Chapter

Economic Policy

Wilson Wong and Sabrina Luk

in Contemporary Hong Kong Politics

Published by Hong Kong University Press

Published in print February 2007 | ISBN: 9789622098299
Published online September 2011 | e-ISBN: 9789882206779 | DOI: http://dx.doi.org/10.5790/hongkong/9789622098299.003.0010
Economic Policy

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This chapter first approaches economic policy from a macro perspective to examine the public finance system of Hong Kong, including its monetary policy and fiscal policy, the revenue, and expenditure systems. Attention is drawn to how, and the extent to which, its public finance system is structured and constrained by the power distribution through which political inequality is often translated into fiscal inequity. The chapter then moves to the economic policy from a more micro perspective to explore the policies of the Hong Kong Special Administrative Region (HKSAR) government targeting specific industries and the political difficulties it has faced in restructuring the economy to keep Hong Kong competitive in the global economy. It specifically emphasizes the interaction between politics and economics in which political concerns and factors have exerted a major influence in moulding the economic policy of Hong Kong as well as constraining the pace, content, and extent to which reforms can be taken. It is often argued by both the HKSAR government and the Chinese central government that Hong Kong should be an economic city, not a political city, focusing mainly on economic development in lieu of political development.

Keywords: economic policy; finance; Hong Kong; global economy; politics; reforms; Chinese government

Chapter.  9783 words.  Illustrated.

Subjects: Modern History (1700 to 1945)

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