Economy
The stability, security, and predictability of British law and government enabled Hong Kong to flourish as a centre for international trade. In the colony's first decade, the revenue from the opium trade was a key source of government funds. The importance of opium reduced over time, but the colonial government were dependent on its revenues until the Japanese occupation in 1941. Although the largest businesses in the early colony were operated by British, American, and other expatriates, Chinese workers provided the bulk of the manpower to build a new port city.
By the late 1980s, many ethnic Chinese people had become major business figures in Hong Kong. Amongst these billionaires was Sir Ka-shing Li, who had become one of the colony's wealthiest people by this time.
Read more about this topic: British Hong Kong
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)