million in 1945 to over two
not much moze than nalt
million by 1951. In order to survive the territory had to
develop its OWN industrial exports, at first in a
rudimentary way with textiles, simple plastic products,
cheap electrical fitments and metal products. Markets were
sought overseas, notably in the United Kingdom and the
Unitea States, through the plethora of commercial
organisations that had grown up over the years to conduct
the entrepot trade and using the already well developed
By these mean s, Hong Kong became the
snipping lines.
pioneer of newly industrialising economies (NIEs).
8.
Then the
It was not until 1963 that Hong Kong's total
exports had
recovered sufficiently to cxcood the 1951 level
before the disruption of the entrepot trade.
contribution of its own manufactured exports was small,
But by 1963 domestic exports accounted for more than three
quarters of total exports, and the figure rose to more than
80% in the early 1970's. In the early 1960's, too, the
first big building boom occurred, beginning a process that
was to transform the whole face of the territory in less
than thirty years.
9.
The
growth of the local manufacturing and
construction industries led to the increasing absorption
into employment of the largely immigrant population, even
though it continued
to expand rapidly, both from natural