Economy
The stability, security, and predictability of British law and government enabled Hong Kong to flourish as a centre for international trade. In the colony's first decade, the revenue from the opium trade was a key source of government funds. The importance of opium reduced over time, but the colonial government were dependent on its revenues until the Japanese occupation in 1941. Although the largest businesses in the early colony were operated by British, American, and other expatriates, Chinese workers provided the bulk of the manpower to build a new port city.
By the late 1980s, many ethnic Chinese people had become major business figures in Hong Kong. Amongst these billionaires was Sir Ka-shing Li, who had become one of the colony's wealthiest people by this time.
Read more about this topic: British Hong Kong
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
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—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)