Hong Kong During the 1950s and 1960s
Hong Kong during the 1950s and 60¡¦s
Hong Kong is often looked upon as the capital of free trade. Located in the center of Southeast Asia, this is no small coincidence as to the region¡¦s success. It is based upon effective governance and the intensive working attitude of the local people. Nevertheless, Hong Kong has had to confront numerous challenges in order to achieve its status in the world market today. In the early 1950s, Hong Kong underwent enormous changes which totally transformed its economy, society and politics. Most particularly was the large influx of Chinese refugees to this region. With effective governance and the hard work of its people, Hong Kong prospered during the 1950¡¦s and 1960¡¦s and ultimately retained its prosperity up until the city¡¦s reunification by China in 1997.
When Hong Kong finally ceded to the Britain in 1943, the region had relied heavily on the entrepot trade. However, Hong Kong, prior to this, was subjected to Japanese occupation for about three and a half years, during the Second World War. They forbid all trade activities in Hong Kong and reassigned most of the region¡¦s resources to support the war effort . The entrepot trade completely collapsed and Hong Kong was subjected to ¡§Three years and Eight months of Hardship¡¨. The population, during this period, dropped from 1.6 million to half a million during the Japanese occupation . There was no economic activities underway in the city during this war-time period. Fortunately, after the British resumed its administrative duties in Hong Kong, after the Japanese surrendered, the economy has restored and even propsered. Its import and export volumes increased steadily shortly after the war and this continued for quite some time. In fact, the total economic output dramatically increased from 1.7 billion Hong Kong Dollars in 1946 to 9.3 billion Hong Kong Dollars in 1951 . At that time, manufacturing remained, however, only a small portion of the total economic output in
Hong Kong is often looked upon as the capital of free trade. Located in the center of Southeast Asia, this is no small coincidence as to the region¡¦s success. It is based upon effective governance and the intensive working attitude of the local people. Nevertheless, Hong Kong has had to confront numerous challenges in order to achieve its status in the world market today. In the early 1950s, Hong Kong underwent enormous changes which totally transformed its economy, society and politics. Most particularly was the large influx of Chinese refugees to this region. With effective governance and the hard work of its people, Hong Kong prospered during the 1950¡¦s and 1960¡¦s and ultimately retained its prosperity up until the city¡¦s reunification by China in 1997.
When Hong Kong finally ceded to the Britain in 1943, the region had relied heavily on the entrepot trade. However, Hong Kong, prior to this, was subjected to Japanese occupation for about three and a half years, during the Second World War. They forbid all trade activities in Hong Kong and reassigned most of the region¡¦s resources to support the war effort . The entrepot trade completely collapsed and Hong Kong was subjected to ¡§Three years and Eight months of Hardship¡¨. The population, during this period, dropped from 1.6 million to half a million during the Japanese occupation . There was no economic activities underway in the city during this war-time period. Fortunately, after the British resumed its administrative duties in Hong Kong, after the Japanese surrendered, the economy has restored and even propsered. Its import and export volumes increased steadily shortly after the war and this continued for quite some time. In fact, the total economic output dramatically increased from 1.7 billion Hong Kong Dollars in 1946 to 9.3 billion Hong Kong Dollars in 1951 . At that time, manufacturing remained, however, only a small portion of the total economic output in
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