Hong Kong Advantages

Author: Enlight et al
Publisher:
Publish Date: 1999-02-01
Features: The research on Hong Kong's economy consists of three main parts: an analysis of the overall economic performance of Hong Kong, a series of studies on topics that significantly impact Hong Kong's economic performance, and a detailed study of the competitiveness of certain representative industries in Hong Kong. This research project interviewed hundreds of business professionals, government officials, and industry experts. Fieldwork was conducted by Jonathan West (Harvard Business School) for the technology and electronics industry, Winston Leung (Ermington International Limited) for the radio communications industry, and Nicolas Bradbury (Conatus) for cost and efficiency comparisons across various regions in the Asia-Pacific. The research findings were presented at a series of seminars held in Hong Kong during the summer and fall of 1996, with the book being written concurrently. In any national or regional economy, there are key factors that either promote or weaken the competitiveness of local businesses. The "major issues" studied in this program include: the nature of Hong Kong's transforming economy, the requirements for human resources in Hong Kong, the technological development of Hong Kong's industries, Hong Kong as a hub for foreign enterprises, Hong Kong's position in the regional value-added chain, the economic philosophy of the Hong Kong government, and the role of competition in Hong Kong's economy. The cost and efficiency comparison between Hong Kong and other economic centers in the region is part of the research on Hong Kong's regional competitors, aiming to understand the impact of each location on the competitiveness of general enterprises and certain industries in Hong Kong. To provide readers with a typical economic profile of Hong Kong, nine industries were selected as subjects of study, including: light industries such as garment manufacturing and electronics; air and sea freight industries related to Hong Kong's role as a regional transportation and communications center, as well as the radio communications industry; and four service industries: export trade, fund management, civil engineering consulting services, and tourism. These nine sectors are closely interrelated and together employ 25% of Hong Kong's 3.1 million workforce, accounting for approximately 40% of the local gross product. The purpose of this book is not to provide strategies for individual industries or to guess who will be the future "losers and winners." Since competition occurs between nations and their businesses at the level of individual industries, the aim of this book is to identify the specific strengths and weaknesses of Hong Kong's economic system, as well as the key factors. The challenge of any research work lies in the selection of materials. Hong Kong has become and will continue to be the subject of many works. In this book, we have tried to balance issues of interest to both the local and international communities, but as a result, some purely local issues, specific policies, or strategic choices are not elaborated in detail. We hope that readers interested in these issues will look forward to our future research.