Trade :: trade introductuion hong kong pearl asia center finance since early 20th century short history 150 years become source growth nearby economies certain sense even said merchant city founded managed businessmen traditional hongs houses pillars economy jardine matheson hutchison major led & shanghi bank financier today grown one largest world firms critical Essays Papers Trade

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Trade

Introductuion

Hong Kong, the pearl of Asia has been the center of trade and finance in Asia since the early 20th century. In a short history of about 150 years, Hong Kong has become the source of growth for many nearby economies. In a certain sense, it can be even said that it is a merchant city founded and managed by businessmen. Traditional "hongs" or trade houses of Hong Kong were the pillars of the economy. Jardine Matheson and Hutchison were major hongs that led the economy and the Hong Kong & Shanghi Bank were the financier of these hongs and has today grown to become one of the largest bank in the world. These firms were the critical factors of the growth for Hong Kong's economy. Their role however has changed overtime. They are no longer the de facto leaders of Hong Kong as they were in the mid 1800's. Their role has diminished as Hong Kong grew to become more international, and the 1997 handover to the People's Republic of China has further altered their position. Some hongs that adapted well to the changing times prospered while others either went bankrupt or become stagnant. Background on Hong Kong Economy The territory of Hong Kong is located at the mouth of the Pearl River, a little southwest of the Guangdong Province of the PRC. Hong Kong was ceded to the British after the Opium War in 1842. Many believe that the British hongs were behind lobbying the British government into fighting the Chinese Government and the settlement of the island. Kowloon ... [to view the full essay now, purchase below]

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