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Hong Kong is widely considered Asia’s
economic and financial powerhouse,
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with one of the most free and
competitive economies in the world.
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And while the city is
technically part of China,
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there's a number of features that
make it stand out from the Mainland.
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Hong Kong is a Special Administrative
Region of the People's Republic of China.
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This means it’s in China, but operates
under its own set of rules and regulations,
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with the exception of defense
and foreign affairs.
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This is laid out in what’s called the Basic Law, Hong
Kong’s constitution and a national law for China.
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The high degree of autonomy that Hong Kong enjoys,
along with its status as an economic powerhouse,
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makes it unique compared
to the rest of the mainland.
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These differences are encapsulated by the
“one country, two systems” principle,
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which means each system has its own set of
government, legal, financial, economic regulations
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and even separate trade
relations with other nations.
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So what are some of the key distinctions
between Hong Kong and mainland China?
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Well, despite sharing multiple air, sea and land links,
like the Hong Kong-Shenzhen border for instance,
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you’ll need to go through passport control when
moving between Hong Kong and the mainland,
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regardless of nationality.
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In fact, sometimes it’s more seamless
crossing between two separate countries.
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Take going between France
and Germany for example.
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They have no controls because they’re
both part of the Schengen Area.
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Hong Kong residents are also issued passports
that are different from their Chinese counterparts.
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And if you have a passport from, say the U.S.,
Germany or more than 100 other countries,
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you can enter Hong
Kong without a visa.
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But visitors from most countries will
need a visa to enter Mainland China.
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China’s well-known internet blocks, which prevent you
from accessing the likes of Google and Facebook,
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aren’t in place here
in Hong Kong.
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Freedom of expression is well protected
by the Hong Kong Bill of Rights.
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No political views can be blocked online, and
government licenses aren’t required to run a website.
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That’s not the case
in most of China.
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Here they use the
Hong Kong dollar.
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While in China,
they use the Yuan.
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And while China’s government is heavily
involved in the running of its economy,
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Hong Kong’s is ranked
as the world’s freest,
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thanks to its government integrity,
and trade and monetary freedom.
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But that could
change in 2047.
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So why the expiration date? And
why is this relationship so unique?
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It all started in 1842.
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Hong Kong was surrendered
to the British “in perpetuity,”
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after the Qing dynasty of
China lost the First Opium War.
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A second territory, a part
of the Kowloon peninsula,
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was ceded by Qing China to the British
in 1860 after the Second Opium War.
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Finally, the New Territories were leased to
the U.K. for 99 years rent-free in 1898.
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In the 1980s, China broke its silence and called
for the “reunification of the Chinese nation.”
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After lengthy negotiations, both countries agreed
Hong Kong would revert to Chinese rule in 1997,
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the same year the 99-year lease
on the New Territories expired.
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British rule of Hong Kong, which
included Hong Kong Island, Kowloon
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and the New Territories,
ended on July 1 1997.
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Despite being handed back to China, the
Sino-British Joint Declaration guarantees
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Hong Kong’s political and economic systems
would remain unchanged for 50 years.
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That includes freedoms such as the
right to assemble and demonstrate,
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the right to free speech
and a free press.
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What will happen in Hong Kong
after 2047 is anyone’s guess.
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As you can imagine, that
could get complicated.
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See, in past decades, Hong Kong thrived and rose
to become one of Asia’s financial powerhouses,
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ultimately becoming a hub for western
companies looking to do business in China.
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China’s opening of its economy in 1978
propelled the country to become the world’s
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second-largest economy behind the U.S., drawing
hundreds of millions out of poverty in the process.
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And while Hong Kong was strategically well-positioned
to benefit from China’s economic boom,
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it was a double-edged sword.
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Hong Kong, which was traditionally
a crown-jewel for China,
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at one point representing 27% of the Chinese
economy back in 1993, now represents less than 3%.
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In fact, Hong Kong’s economy was recently
surpassed by the city of Shenzhen,
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a booming tech city just across
the border in Mainland China.
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So Hong Kong is now much less significant
to China’s overall economy.
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And while Hong Kong is supposed to
remain an autonomous region until 2047,
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some say China doesn’t
want to wait that long.
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In recent years, China has tightened its
embrace of Hong Kong, not just symbolically,
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but through massive
infrastructure projects too.
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For one, there’s the
Greater Bay initiative.
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It hopes to combine the cities of Guangzhou
and Shenzhen in Southern China
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with the likes of Hong
Kong and Macau
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to create one massive area that could rival San
Francisco, New York and Tokyo’s bay areas.
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The Greater Bay Area is home
to more than 65 million people.
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This new $20 billion dollar bridge
is an example of that initiative.
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It’s the longest sea-crossing bridge in the world,
connecting Hong Kong to the Mainland.
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Some critics have actually linked the bridge to an
umbilical cord between Hong Kong and China,
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saying that it’s a symbolic way for China
to exert more influence over Hong Kong.
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And there’s this new controversial high-speed
rail, which allows Mainland Chinese officials
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to exercise jurisdiction in
Hong Kong for the first time.
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The city has seen an influx of mainlanders,
around one million since 1997,
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accounting for 90% of Hong
Kong’s population growth.
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This influx has fueled some resentment,
with some locals blaming them
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for pushing up property prices
and driving down wages.
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In several instances, Hong Kongers
have resisted China’s influence.
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In 2003, hundreds of thousands protested against
proposed national security legislation
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critics said would erode
the coastal city’s freedoms.
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In 2014, tens of thousands of people protested
China’s influence over Hong Kong’s elections.
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This gave birth to the Umbrella Movement,
named after the umbrellas
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protesters used to shield the
pepper spray used by police.
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In 2017, the Chinese Foreign Ministry declared
the Sino-British Joint Declaration no longer
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had any significance, though it was unclear
whether the attack was on British involvement
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in Hong Kong or the core
principles in the document.
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Britain says the document
is still a valid treaty.
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And in 2019, more than half a million protestors
flooded the streets to protest an extradition bill
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that would allow fugitives to be transferred
to places with which the city has
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no extradition arrangements,
including mainland China.
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Recently, Hong Kong fell two spots in the
Economist Intelligence Unit’s Global Democracy Index
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landing at 73rd place on a list of 167,
tying with Senegal and below Mexico.
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China, meanwhile,
rose nine places to 130.
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Hong Kong’s autonomy and economic freedom
have been key to its rise as a global economic hub.
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But being seen as the gateway to
China has also been imperative.
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Keeping that balance between the two is something
Hong Kong will continue to contend with,
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particularly as it
edges closer to 2047.
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Hey guys, thank you for watching.
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Check out more of our videos like that time
I went to explore China's Greater Bay Area.
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