Background
After the transfer of sovereignty, Hong Kong faced a series of problems, both political and economical. The government carried out a series of reforms to adopt a more modern ideology and democracy, but faced many difficulties. Despite a transfer of power to China, the citizens participate in how their government is run, and the region maintains some degree of autonomy. Media in Hong Kong has not come under state control, though many citizens believe the media practices self-censorship. The economy would also begin the period with a rise in unemployment rate from 2.2% in 1997 to 4.4% in 2000, and 7.9% in 2003. The economy had gradually recovered since 2004 and the overall unemployment rate fell to 3.6% in 2008, however the overall figure rose again to 5.4% in 2009 due to the global economic downturn in the last quarter of 2008.
Read more about this topic: 2000s In Hong Kong
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“... every experience in life enriches one’s background and should teach valuable lessons.”
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