Hong Kong: The Fragile Economy of Middlemen

Hong Kong: The Fragile Economy of Middlemen

The paper shows that standard trade models can be adapted to address crucial policy issues in our dynamic, imperfect‐information world. It also shows that intermediated trade is essential to the modernization of the 1.2 billion‐person Chinese economy; yet, notwithstanding sincere intentions in Beiji...

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Veröffentlicht in:Review of international economics 1999-08, Vol.7 (3), p.410-430
Hauptverfasser: Wan, Jr, Henry Y., Weisman, Jason
Format: Artikel
Sprache:eng
Schlagworte:
Economic development
Economic models
Economic theory
Globalization
Hong Kong
Imperfect information
International trade
Middlemen
Modernization
Stagnation
Studies
Technological change
Trade models
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Zusammenfassung:The paper shows that standard trade models can be adapted to address crucial policy issues in our dynamic, imperfect‐information world. It also shows that intermediated trade is essential to the modernization of the 1.2 billion‐person Chinese economy; yet, notwithstanding sincere intentions in Beijing and Hong Kong, subtle changes may deny Hong Kong its irreplaceable catalyst role, leaving China ultimately to technical stagnation.
ISSN:0965-7576
1467-9396
DOI:10.1111/1467-9396.00173