Business Environment?

Question

The People’s Republic of China took over Hong Kong in 1997. China had promised to keep a capitalist economy in Hong Kong for 50 years. Still, many Hong Kong business people (and their families) have migrated to other nations such as Canada and Australia

Discuss the impact of this situation on China’s political and social environment.

(100 marks)

Answer 1

There was a lot of fear arround the transition time that China would not keep their prommis, so a lot of wealthy people left.  However, since that time mainland chinas economy has tended to be a bit more capitolist, while its social environment has not changed.