by Rowan Callick - £9.99 Comerford & Miller (1999)
paperback ISBN 13: 9781871204148 | ISBN 10: 1871204143
Much has been written about Hong Kong before the handover. Of more historic importance was the first year under Chinese rule. Nothing turned out as expected. Capitalism, not communism, caused the problems. Hong Kong's sharemarket fell, its impact made worse by its own property speculation led to the collapse of major enterprises. The puppet legislature, dominated by the megawealthy - red entrepreneurs - gave tax concessions to the middle classes and put a cap on the minimum wages paid to domestic servants.
Comrades and Capitalists not only examines the impact of China on Hong Kong but also looks at the effect of the handover on China itself in its own economic reforms, and goes so far as to suggest that Hong Kong could lead China to more democratic institutions.
(Price & availability last checked: April 2018)