The political economy of Greater China

Asia Pacific Business Review

Volumn 2, Issue 3, 1996, Pages 40-43

  Tsang, Shu Ki ^a  

^a HONG KONG BAPTIST UNIVERSITY   (Hong Kong)

Author keywords

[No Author keywords available]

Indexed keywords

DEVELOPING COUNTRY; ECONOMIC REFORM; INTEGRATION PROCESS; POLITICAL ECONOMY; REGIONAL INTEGRATION;

CHINA; HONG KONG;

EID: 0030483996     PISSN: 13602381     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (56)

1. Statistical Yearbook of China 1994, pp.506 and 527.
2. For a discussion of the economic relations between China and the other Asian economies on the Pacific Rim, particularly the South East Asian ones, see John Wong, 'China in the Dynamic Asia Pacific Region', Keynote Speech in the Nineth Annual Conference of the Chinese Economists Society, Chicago, USA, 21 August 1994.
3. 'Taiwan Economic Statistics', Industry of Free China, Taiwan, various issues.
4. Estimates of GDP; Annual Digest of Hong Kong; Hong Kong, various issues.
5. Vincent C. Siew, 'Taiwan's Economic Development: the Present Situation and the Main Tasks to be Undertaken', Industry of Free China, Taiwan, Vol.83, No.2, March 1995, p.51.
6. Statistical Yearbook of China 1994, p.21.
7. See Tsang Shu-ki, 'So Far So Good for Chinese Economy', Sunday Post, Hong Kong, 7 August 1994.
8. The World Bank, World Development Report 1992, Table 30.
9. See Tsang Shu-ki, 'China the Third Largest Economy in the World?' Ming Pao Daily, Hong Kong, 16 June 1993, p.33.
10. The World Bank, World Development Report 1993, Table 30.
11. See Table 2 above.
12. See Ta Kung Po, Hong Kong, 14 September 1994.
13. Hang Seng Economic Monthly, Hong Kong, June 1993.
14. See Lin Wulong, 'The Development of Mainland China's Economy and Trade and the Relations between the Two Sides of the Strait: Review and Outlook', Industry of Free China, Taiwan, Vol. 83, No.2, pp.7-17.
15. For example, an economist in Taiwan estimated that on top of the indirect exports of US$4667.2 million to China through Hong Kong in 1991 (see Table 3), another amount of US$2880 million was 'transshipped' to the Mainland, making a total of US$7.55 billion of Taiwanese exports across the Strait. It represented 50.3% of Taiwan's exports to Hong Kong in the year. See Lin Yujun, 'Hong Kong's Contribution to Taiwan-Mainland Economic and Trade Exchanges', Economic Outlook, Chung-hua Institution for Economic Research, Taipei, Taiwan, No.29, January 1993.
16. For more detailed analysis of China-Taiwan trade, see Sun Yun-wing, The China-Hong Kong Connection: the Key to China's Open Policy, (Cambridge University Press, 1991);
17. Sung Yun-wing, 'Illegal Trade between mainland China and Taiwan', paper presented at the International Pacific Rim Conference, Western Economic Association, 8-13 January 1994, Hong Kong;
18. Lin Yujun, 'Again on the Statistical Problems of Trade with the Mainland', Economic Outlook, Chung-hua Institution for Economic Research, Taipei, Taiwan, No.25, January 1992.
19. South China Morning Post, 'Business Post', 10 April 1995, p.1.
20. United Daily, Hong Kong, 13 April 1995, p.23.
21. See Table 3 and Lin Wulong, 'The Development of Mainland China's Economy and Trade', United Daily, op.cit.
22. See Table 2.
23. Speech delivered at the 14th Meeting of Science and Technology Advisory Group (STAG), September 8, 1993, Taipei;
24. reprinted in Industry of Free China, Vol. 80, No.4; October 1993.
25. See Tsahg Shu-ki, 'Inflation', in Joseph Y.S. Cheng and Paul C.K. Kwong (eds), The Other Hong Kong Report 1992 (The Chinese University Press, 1992), pp.425-45;
26. Tsang Shu-ki, 'Economic Integration between Hong Kong and Guangdong: Structural and Developmental Problems' (in Chinese), paper presented at the Conference Guangdong-Hongkong Relations: Towards the Twenty-first Century, organized by the Guangdong Academy of Social Sciences and the Economics Department of the Hong Kong Baptist University, Guangzhou, China, 9-10 December 1994.
27. For a more detailed discussion of the political economy of Hong Kong in the run-up to and beyond 1997, see Tsang Shu-ki, 'The Economy', in Donald H. McMillen and Man Si-wai (eds), The Other Hong Kong Report 1994 (The Chinese University Press, 1994), pp.125-48.
28. See Sung Yun-wing, The China-Hong Kong Connection, op.cit.
29. See Tsang Shu-ki, 'Income Distribution', in Choi Po-king and Ho Lok-sang (eds), The Other Hong Kong Report 1993 (The Chinese University Press, 1993), pp.361-68.
30. See Hu Len-kuo, 'Taiwan's Overall Development into the Next Century', paper presented at the International Conference on Chinese Cities and China's Development, organized jointly by the Centre of Urban Planning and Environmental Management and the University Graduates Association of the University of Hong Kong, 8-9 November 1993, Hong Kong.
31. United Daily, Hong Kong, 9 April 1995, p.11.
32. See Table 2 above.
33. Even at US$20 billion, Taiwan's stock of investments in China would equal only 10% of her GNP in 1993. In comparison, Hong Kong's GDP was US$115.1 billion in the same year, while her investments in China totalled US$103.9 billion (see Table 2). The ratio was therefore 90.3%, nine times that of Taiwan!
34. There are also economists who do not see any signs of 'hollowing out' in the Taiwan economy. See for example Lin Wulong, 'Analysis of the Problem of 'Hollowing Out' in Taiwan', Industry of Free China, Vol.80, No.4, October 1993, pp.1-6.
35. See, for example, Gao Chang and Wang Zhicong, 'The Effects of Taiwan Investments in China on Cross-Strait Trade', paper presented in the Conference Economic Development on Both Sides of the Strait and Asian-Pacific Economic Cooperation, organized by the Chinese University of Hong Kong, Hong Kong, 9-10 June 1994.
36. Council for Economic Planning and Development, The Six-year National Development Plan of the Republic of China, January 1991.
37. See Cross-Strait Economics and Trade, Taiwan, No.37, January 1995, pp.5-6.
38. Chi Schive, 'Regional Operations Center and the ROC Economy in the 1990s', Industry of Free China, Vol.81, No.2, February 1994, pp.43-53.
39. The poll was conducted by a Taiwanese newspaper on 27 July 1995, right after the completion of the missile tests. See China Times, Taiwan, 28 July 1995. A poll in mid-July before the tests yielded a support rate of 18% for independence.
40. See Tsang Shu-ki, 'Current Problems in the Chinese Economy' (in Chinese), Wide Angle, Hong Kong, December 1992.
41. Statistical Yearbook of China 1994, Tables 16.2 and 16.3.
42. See Tsang Shu-ki, 'Current Problems in the Chinese Economy', Wide Angle, Hong Kong, December 1992.
43. See Wu Jinglian, 'Some Reflections on the Choice of Reform Strategy', Jingji Yanjiu (Economic Research), February 1987, pp.3-14.
44. See Christine P. Wong, 'Fiscal Reform and Local Industrialization: The Problematic Sequencing of Reform in Post-Mao China', Modern China, Vol.18, No.2, April 1992, pp.197-227;
45. Tsang Shu-ki, 'Towards a System of Modernized Macroeconomic Control in China', paper presented at the 34th ICANAS (International Congress of Asian and North African Studies) Meeting, Hong Kong, August 1993;
46. Tsang Shu-ki and Cheng Yuk-shing, 'China's Tax Reforms of 1994: Breakthrough or Compromise?'. Asian Survey, Vol.34, No.9, September 1994, pp.769-88.
47. Tsang Shu-ki, 'China Faces the Danger of the Loss of Control', Wide Angle, Hong Kong, July 1993.
48. See Tsang Shu-ki and Cheng Yuk-shing, 'China's Tax Reforms of 1994: Breakthrough or Compromise?', Wide Angle, op. cit.;
49. Tsang Shu-ki, 'Towards Full Convertibility? China's Foreign Exchange Reforms', China Information, Vol.9, No.1, Summer 1994, pp.1-41;
50. Tsang Shu-ki, 'Financial Restructuring', in Lo Chi-kin et al. (eds). The China Review 1995, (The Chinese University Press, Hong Kong), Ch.21.
51. The World Bank, China Foreign Trade Reform: Meeting the Challenge of the 1990s, A World Bank Country Report, 1994.
52. For such a possible trap in the case of China-Hong Kong economic links, see Tsang Shu-ki, 'Economic Link-up between Hong Kong and Guangdong: Structural and Developmental Problems', paper presented at the Conference Guangdong-Hongkong Relations: Towards the Twenty-first Century, organized by the Guangdong Academy of Social Sciences and the Economics Department of the Hong Kong Baptist University, Guangzhou, China, 9-10 December 1994.
53. See the World Bank, World Development Report 1993, Table 30.
54. See for example the report by Asian Wall Street Journal, 8-9 April 1995, p.1.
55. I have discussed about the possibility of a 'new Cold War' pitting China against the US, in which the latter might play the 'Taiwan card'. See Tsang Shu-ki, 'Hong Kong Caught in the Midst of a New Cold War?', Ming Pao Daily, Hong Kong, 2 December 1992. Such a 'new Cold War', if it really unfolded, would be very different in nature from the old one, as the integration of China into the world economy contrasts sharply with the isolation of the former Soviet Union.
56. Similar optimism about economics eventually prevailing over politics is shared by another commentary. See Merrill Lynch, 'Beijing-Taipei Relations', The China Monthly, 15 August 1995.