Equal opportunity allows people to engage in self

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Unformatted text preview: le. Equal opportunity allows people to engage in self-centered activities and pursue intra-comparison in income. Other social paradigms often produce absolute, win-orlose, or live-or-die outcomes. Peace & stability can be maintained No matter how a regime is selected/elected, a regime should take a pro-growth approach, giving high priority to economic activities. Stages of Hong Kong’s Growth Industrialization: 1950s-1970s. Development as a financial centre: 1970s-1980s. Revitalization of re-exports: 1980s-1990s. Growth in services: 1990s-2000s. Structural Problems and Limitations of Hong Kong’s Growth before 1997 Higher value-added processes leaving in Hong Kong. Re-export increases. Hong Kong economy restructured to service-oriented. High inflation rate. Hong Kong’s direct investment in China diversified from manufacturing to real estate, finance, hotels, infrastructure, etc. In long run, HK’s lead in skills and infrastructure over the mainland is eroding. Elite fragmentation hampers crisis management and Int...
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