To decrease the trade imbalance, the British marketed big quantities of Indian opium to China. Faced with a drug disaster, Qing officials pursued at any time additional intense steps to halt the opium trade.[fifty seven]
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straight away after the transfer, Hong Kong was seriously impacted by various crises. The federal government was compelled to make use of sizeable international-exchange reserves to take care of the Hong Kong dollar's currency peg throughout the 1997 Asian money disaster,[sixty nine] and also the recovery from this was muted by an H5N1 avian-flu outbreak[78] and also a housing surplus.
initially a sparsely populated location of farming and fishing villages,[sixteen] the territory is now among the globe's most important financial centres and professional ports.[21] it truly is the planet's tenth-major exporter and ninth-largest importer.[22][23] Hong Kong has A serious capitalist provider financial state characterised by minimal taxation and no cost trade, and its currency, the Hong Kong greenback, is definitely the eighth most traded forex on the globe.
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Political debates after the transfer of sovereignty have centred across the location's democratic development as well as central federal government's adherence to the "just one place, two units" theory. immediately after reversal of the last colonial era Legislative Council democratic reforms following the handover,[81] the regional govt unsuccessfully tried to enact nationwide safety laws pursuant to post 23 of The essential legislation.[82] The central government choice to apply nominee pre-screening before allowing for Chief government elections induced a number of protests in 2014 which grew to become often known as the Umbrella Revolution.
Although the territory experienced one of Asia's biggest manufacturing economies in the latter fifty percent from the colonial period, Hong Kong's overall economy has become dominated through the service sector. The sector generates ninety two.7 per cent of financial output, with the public sector accounting for around ten for each cent.
Economic and infrastructure integration with China has increased considerably Considering that the 1978 start off of market place liberalisation over the mainland. considering the fact that resumption of cross-boundary practice assistance in 1979, many rail and highway backlinks have already been enhanced and produced (facilitating trade between regions).[210][211] The nearer Partnership Economic Arrangement formalised a policy of free trade amongst The 2 locations, with Each and every jurisdiction pledging to get rid of remaining obstructions to trade and cross-boundary expense.
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it's got little arable land and several all-natural resources, importing a lot of its foodstuff and raw supplies. a lot more than 90 for every cent of Hong Kong's meals is imported, including almost all its meat and rice.
Hong Kong provides a humid subtropical weather (Köppen Cwa), attribute of southern China. summer time is scorching and humid, with occasional showers and thunderstorms and warm air within the southwest. Typhoons come about most often then, at times leading to floods or landslides. Winters are mild and usually sunny at first, turning out to be cloudy to February; an occasional cold entrance brings potent, cooling winds in the north. essentially the most temperate seasons are spring (which may be changeable) and autumn, which is generally sunny and dry.
foodstuff in Hong Kong is principally according to Cantonese cuisine, Regardless of the territory's publicity to overseas influences and its residents' diversified origins. Rice will be the staple food stuff, and is generally served basic with other dishes.[268] Freshness of ingredients is emphasised. Poultry and seafood are commonly offered Are living at moist markets, and ingredients are made use of as immediately as you can.
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