Hong Kong and Globalization

This article explores the impact of globalization, broadly defined, on Hong Kong along three dimensions—economic, social and political. The forces of globalization have led to structural, policy and distributional changes in all three areas to various degrees. So far Hong Kong has been remarkably successful in responding to the challenges and opportunities of globalization. Important conditions for Hong Kong’s success include its strategic location as the gateway between China and the world and its institutional strengths, such as its policy independence, adaptive flexibility and robust legal system.