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Comparing Economies of Hong Kong, Macao and Taiwan Reveals ‘One Country, Two Systems’ Exists in Name Only

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Comparing Economies of Hong Kong, Macao and Taiwan Reveals ‘One Country, Two Systems’ Exists in Name Only
Experts believe that the CCP’s so-called politics above all else is the cause of Hong Kong’s economic decline. As the "One Country, Two Systems" has all but disappeared, Hong Kong has lost its advantage as an independent customs territory and downgraded from an international financial center to a city of international trade. The picture shows the streets in Central on Jan. 4, 2022 Sung Pi-lung/The Epoch Times
David Chu
Updated:
New Analysis

Hong Kong’s exports in November 2022 fell by 24.1 percent compared with the same period in 2021, the biggest drop in 70 years. At the same time, retail sales also fell unexpectedly, the largest drop in eight months, casting more gloom on the prospects for Hong Kong’s economic recovery. Experts believe that the Chinese Communist Party’s (CCP) so-called “politics above all else” is the prime cause of Hong Kong’s economic decline.

David Chu is a London-based journalist who has been working in the financial sector for almost 30 years in major cities in China and abroad, including South Korea, Thailand, and other Southeast Asian countries. He was born in a family specializing in Traditional Chinese Medicine and has a background in ancient Chinese literature.
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