This assignment focuses on Hong Kongs special role in the 1997-1998 Essay

This assignment focuses on Hong Kongs additional role in the 1997-1998 Asian fiscal crisis - Essay ExampleNeither scenario was ever re whollyy on the cards. Al elans more likely was what has actually happened since Hong Kong has continued to evolve socially, politically and economically as it steers its way through the uncharted waters f the one and only(a) country, two systems formula enshrined in our constitution, the Basic Law.We form had no shortage f problems since the transition, but interference by Beijing has certainly not been one f them. Beijings hands off policy, other than in its remit over foreign affairs and defence, has been a mainstay f our efforts in dealing with the fall-out from the Asian financial crisis.China has kept her telephone. We certainly dont watch Beijing to be boosting our claims over any other mainland city. We are happy to compete on our protest terms with any rival, anywhere, armed with the autonomy we enjoy under one country, two systems. It g ives us all the freedom we need to do so.Challengers will have to overcome our location, location, location a hinterland bursting with promise and the sophisticated software f the worlds freest economy. That includes a trusted and deeply-rooted legal system, the freest press in Asia and a lucid government accountable to a lively and probing legislature.We are the first to acknowledge that the Asian financial crisis came as a rude shock. Like many others, we, frankly, underestimated its impact. In exposing the problems in some(prenominal) f our neighbouring economies it served as a wake-up call for the entire region. Hong Kong has smelled the coffee.We have embraced further privatisation f public assets, including our profit-making mass-transit railway and even some f our welfare services. We have embarked on a series f ambitious initiatives in the financial-services orbit the merging f the stock and futures markets further reforms f the banking system enhanced but