One country, two systems in practice : an analysis of six cases

The resumption of sovereignty over Hong Kong by the People’s Republic of China (PRC) was unique in the decolonization history of the United Kingdom. For the first time a piece of British colony was returned to another sovereign power without becoming an independent country. For the PRC, the resumption of sovereignty was a natural course of event because China had never admitted that Hong Kong was a colony of the United Kingdom. After initial contacts between Britain and China in the late 1970s, Chinese government decided to take back Hong Kong in 1981. In 1982, the fourth constitution since the founding of the PRC promulgated the notion of Special Administrative Region. The principle of “one country, two systems” was devised to solve the issue of sovereignty of Hong Kong in 1997. In recovering Hong Kong, the Chinese Communist Party (CCP) encountered a dilemma: on the one hand, it would like to resume sovereignty over Hong Kong; on the other hand, it would like to maintain the status quo as to preserve prosperity and stability of Hong Kong. Hopefully, the “one country, two systems” could solve the problem. Now fours years after the handover, people would ask the question whether the notion of “one country, two systems” has been successfully implemented. In fact, one could even ask; what is actually the principle of “one country，two systems”? Where is the line between “one country” and “two systems”? The paper attempts to answer these questions by exploring six cases that occurred after the handover. The paper starts with a general discussion on the concept, followed by a delineation of six cases and the implications of these cases for “one country, two systems” would be drawn. In fact, some scholars argued that under “one country, two systems” Hong Kong enjoys a higher degree of autonomy than the local/regional governments under Western federal systems. The paper tries to answer the question by referring to Australian and American federal systems

Country of origin effect on products from Mainland China in Hong Kong

This study examines the effect of the country of origin cue on Hong Kong consumers’ purchasing of products from the two countries—China and Japan. The research findings suggest that the country of origin and brand image are the important evaluative criteria for Hong Kong consumer. There are three main objectives in the report. First is to explore the overall image of Mainland Chinese products in Hong Kong market. The other is to assess the impact of the country of origin on Mainland Chinese products in Hong Kong market. Last, we make some suggestions for improving the image of Mainland Chinese products in Hong Kong market. The literature review and survey give the picture of the image of Mainland Chinese products in other markets. Overall, Mainland Chinese products have a negative image in those markets. The country of origin effect influences the country image so much, there has a negative image towards China. Hong Kong people view Mainland Chinese products as old-fashioned, cheap and unattractive. To alleviate that, the Chinese businesses could improve their marketing strategies in Hong Kong, especially the marketing mix. They could change the product designs and packages with good brand names, put more emphasis on promotions and advertising, and improving the advertisements to adapt to the tastes of Hong Kong consumers. In addition, they could increase the number of retail channels that are more convenient for consumers to get information and easier to find the products. The low price of China brand products in Hong Kong gives people “cheap” and “low-class” impression. So, Mainland Chinese firms should raise the quality of products in order to set a higher price in Hong Kong market

Portfolio recallocation and exchange rate dynamics

This empirical paper aims to review a previous literature entitles “Portfolio Reallocation and Exchange Rate Dynamics”. The literature stated that including financial market structure can provide a micro-foundation to complement other macro-based models for exchange rate dynamics which typically are meaningful for the medium and long terms but not satisfactory for the short run. The model in the literature offers another way to look at exchange rate dynamics that is significant in the short run and more practical in nature. Undoubtedly, many investors in the financial market, such as traders, dealers, fund managers, and speculators who adjust their portfolio components more frequently relative other investors, are interested in their short-run performance and value any strong models in explaining relationships among different financial variables. Reviewing the previous findings done several years ago is to ensure the validity of the proposed model and is needed as the financial market and economic conditions change from time to time, particularly in the current era. Therefore, this paper tries to replicate the approach adopted in the literature and covers the period subsequent to it. As this is a short empirical paper, however, some of the operations will be cut down and simplified with a few assumptions while maintaining the principal concepts as much as possible

How do CDOs and CDSs influence the crisis of 2008

Everybody has heard about the “subprime” crisis but do we really know how it occurred and why this phenomenon had such an impact on our economies. One aspect of the answer to this question lies in the trade of credit default swaps (CDSs). These financial products led to less transparency in the markets and to a very collectively vulnerable financial system. This created a vicious circle that had not been anticipated by our financial regulators. In this paper, we will discuss how it occurred and what could have been done to avoid, or at lease reduce, the impact of these products

Lingnan College Hong Kong : prospectus for advanced level and equivalent courses (2-year programme) 1981-82

https://commons.ln.edu.hk/lingnan_prospectus/1005/thumbnail.jp