Greater China: An Emerging Economic Reality
Since the inauguration of China’s open-door policy in 1979, extremely intense trade and investment flows have developed between Hong Kong and the Mainland, and also between Taiwan and the Mainland. It is well known that Hong Kong and Taiwan are respectively the first and second investors1 in the Chinese Mainland. Trade flows among the three economies are also huge. Since the early years of China’s open-door era, Hong Kong and Taiwan have relocated their labour-intensive, export-oriented industries to the Mainland, and investment from Hong Kong and Taiwan has been crucial to the Mainland’s economic reform and opening.
KeywordsForeign Direct Investment Gross Domestic Product Pearl River Delta Purchase Power Parity Democratic Progressive Party
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