Hong Kong as a Global Metropolis (Cambridge Studies in Historical Geography, Series Number 30)

Hong Kong has remained the global metropolis for Asia since its founding in the 1840s following the Opium Wars between Britain and China. David Meyer traces its vibrant history from the arrival of the foreign trading firms, when it was established as one of the leading Asian business centres, to its celebrated handover to China in 1997. Throughout this period, Hong Kong has been prominent as a pivotal meeting place of the Chinese and foreign social networks of capital and as such has been China's window on to the world economy, dominating other financial centers such as Singapore and Tokyo. Looking into the future, the author presents an optimistic view of Hong Kong in the twenty-first century, challenging those who predict its decline under Chinese rule. This accessible and broad-ranging look at the story of Hong Kong's success will interest anyone concerned with its past, present and future. Contents......Page 8 List of figures......Page 9 2.1 Intermediary A exerts power over other intermediaries in upper portion, but A has less power in lower portion......Page 28 2.2 Dynamic model of global metropolitan intermediaries......Page 31 2.3 Long-term dynamics of the world system of metropolises......Page 41 3.1 Opium shipments to China, 1800–1838......Page 48 3.2 Value per chest of opium imports at Canton, 1816–1837......Page 54 3.3 Total value of opium imports at Canton, 1816–1837......Page 55 4.1 Opium imports to China and Shanghai, 1837–1860......Page 77 4.2 Total British exports to, and imports from, China and Hong Kong, 1834–1904......Page 78 4.4 British imports of tea and raw silk from China and Hong Kong, 1834–1904, and of tea from India and Ceylon, 1864–1904......Page 79 4.5 Exports of tea and silk from Canton, Foochow, and Shanghai, 1843–1860......Page 82 5.1 Freight rates between Britain and Asia, 1869–1913......Page 95 6.1 Population of Hong Kong, 1841–1931......Page 130 6.2 Tonnage and number of ships and junks entering and leaving Hong Kong, 1844–1936......Page 131 6.4 Hong Kong trade with China, 1869–1938......Page 132 6.5 Population of Shanghai, 1840–1936......Page 144 6.6 Exports of Singapore, 1870–1927......Page 152 6.7 Selective view of the system of metropolises in Asia, circa 1880–1920......Page 157 7.1 Assets of the Hongkong and Shanghai Bank, 1946–1979......Page 163 7.2 Gross national product (GNP) per capita by political unit, 1964–1996......Page 170 7.3 Structure of manufacturing in Hong Kong, 1950–1997......Page 174 7.4 Number of employees by total and selected type of manufacturing in Hong Kong, 1950–1997......Page 177 7.5 Employees/establishment for total and selected type of manufacturing in Hong Kong, 1950–1997......Page 182 8.1 Sectoral change in employment in Hong Kong, 1976–1996......Page 200 8.2 Sectoral change in gross domestic product (GDP) in Hong Kong, 1980–1995......Page 202 8.3 Value of domestic exports and re-exports of Hong Kong, 1918–1997......Page 204 8.4 Domestic exports of Hong Kong to world regions, 1963–1997......Page 205 8.5 Imports of Hong Kong from world regions, 1963–1997......Page 206 8.6 Re-exports of Hong Kong to world regions, 1963–1997......Page 207 8.7 Domestic exports of Hong Kong to Asia, 1963–1997......Page 208 8.8 Imports of Hong Kong from Asia, 1963–1997......Page 209 8.9 Re-exports of Hong Kong to Asia, 1963–1997......Page 210 8.10 Number of licensed banks in Hong Kong, 1955–1997......Page 213 8.11 Balance-sheets of licensed banks in Hong Kong, 1970–1997......Page 217 8.12 Loans and advances of licensed banks in Hong Kong, 1973–1997......Page 219 8.13 Annual foreign direct investment utilized in China by origin, 1985–1995......Page 220 8.14 Number of regional headquarters and regional offices in Hong Kong, 1979–1996......Page 225 8.15 Number of intermediary businesses and their support services in Hong Kong, 1976–1996......Page 231 8.16 Employment in intermediary businesses and their support services in Hong Kong, 1976–1996......Page 232 9.1 Emigration from and immigration to Hong Kong and foreign worker visas, 1985–1997......Page 237 List of maps......Page 11 1 The global triangle of trade, circa 1820......Page 51 2 Hong Kong and the treaty ports, circa 1845......Page 71 3 Hong Kong and the Nanyang trade centers, circa 1870......Page 107 4 Asian political units and metropolitan centers, late twentieth century......Page 159 List of tables......Page 12 3.1 Balance of trade at Canton, 1828 ($’000s)......Page 57 4.1 Number of non-Chinese adult male civilians in ports, 1850–1859......Page 76 5.1 Foreign commodity trade of China, 1867–1934......Page 100 5.2 Investments of Jardine, Matheson & Company, 1885......Page 120 5.3 Earliest branches, agencies, and agents of Hongkong and Shanghai Bank, 1864–1866......Page 124 5.4 Branches and agencies of Hongkong and Shanghai Bank, 1918......Page 125 6.1 Net profits of Hongkong and Shanghai Banking Corporation, July–December, 1887......Page 138 6.2 Trading areas of selected Chinese exporters and importers in Hong Kong, 1915......Page 139 6.3 Foreign population of treaty ports, 1870......Page 142 6.4 Percentage of total imports and exports of China passing through Shanghai, Canton, and Tientsin, 1870–1930......Page 145 6.5 Percentage distributions of annual average exports and imports of Singapore, 1871–1927......Page 153 7.1 Percentage distributions of manufacturing employment by industry in Hong Kong, 1950–1997......Page 175 7.2 Percentage distributions of value of domestic exports by industry in Hong Kong, 1960–1997......Page 176 7.3 Hong Kong manufactures typical of industrial metropolises, 1985–1997......Page 178 7.4 Growth rate of real payroll per person by economic group in Hong Kong, 1981–1996......Page 179 7.5 Foreign direct investment (FDI) by employment and value in Hong Kong, 1990 and 1996......Page 186 8.1 World’s largest 500 banks with licensed bank in Hong Kong, 1986–1997......Page 214 8.2 Number of licensed banks in Hong Kong by political unit of beneficial ownership, 1986–1997......Page 216 8.3 Specialized financial institutions in Hong Kong, 1984–1997......Page 223 8.4 Regional headquarters and offices in Hong Kong and their overseas parent firms by major business line, 1997......Page 227 8.5 Regional headquarters and offices in Hong Kong by political unit of parent, 1997......Page 229 8.6 Region of responsibility for regional headquarters of overseas companies in Hong Kong, 1997......Page 230 8.7 Producer services in Hong Kong, 1984–1997......Page 233 9.1 Selected comparisons of Singapore and Hong Kong......Page 247 Preface......Page 14 1 Enigma......Page 16 2 Intermediaries of capital......Page 20 3 From Canton to Hong Kong......Page 43 4 Hub of the China trade......Page 67 5 Chinese and foreign social networks of capital......Page 93 6 Trade and finance center for Asia......Page 129 7 Industrial metropolis......Page 158 8 Global metropolis for Asia......Page 194 9 Hong Kong, China......Page 234 Bibliography......Page 263 F......Page 285 O......Page 286 T......Page 287 Hong Kong Has Remained The Global Metropolis For Asia Since Its Founding In The 1840s Following The Opium Wars Between Britain And China. David Meyer Traces Its History From The Arrival Of The Foreign Trading Firms, When It Was Established As One Of The Leading Asian Business Centers, To Its Celebrated Handover To China In 1997. Throughout This Period, Hong Kong Has Been Prominent As A Pivotal Meeting-place Of The Chinese And Foreign Social Networks Of Capital, And As Such Has Been China's Window Onto The World Economy, Dominating Other Financial Centers Such As Singapore And Tokyo. Looking Into The Future, The Author Presents An Optimistive View Of Hong Kong In The Twenty-first Century, Challenging Those Who Predict Its Decline Under Chinese Rule. This Accessible And Broad-ranging Look At The Story Of Hong Kong's Success Will Interest Anyone Concerned With Its Past, Present, And Future.--jacket. Enigma -- Intermediaries Of Capital -- From Canton To Hong Kong -- Hub Of The China Trade -- Chinese And Foreign Social Networks Of Capital -- Trade And Finance Center For Asia -- Industrial Metropolis -- Global Metropolis For Asia -- Hong Kong, China. David R. Meyer. Includes Bibliographical References (p. 248-269) And Index. David Meyer traces Hong Kong's vibrant history from the arrival of the foreign trading firms in the 1840s to its celebrated handover to China in 1997. Throughout this period, Hong Kong has been a pivotal meeting place of the Chinese and foreign social networks of capital. The author offers an optimistic view of Hong Kong in the twenty-first century, challenging those who predict its decline under Chinese rule. The story of Hong Kong's success will interest anyone concerned with its past, present and future.