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are all looking at the longer term. They do not ignore the
alarms and excursions which may from time and time occur.
But they keep them in perspective, confident that Hong
Kong's dynamic economy will carry it through into the 21st
century.
Hong Kong is of course in an unusual position.
1997 the lease for 92% of the territory runs out.. The
remainder could never by itself have seen a viable city.
It is for this reason that the British Government
negotiated with China that the return of sovereignty in
1997 should be coupled with a clear and binding agreement
on what should happen after 1997. This agreement was
formalised in the Sino- British Joint Declaration on the
Question of Hong Kong, signed in 1984.
It
The Joint Declaration is an unusual document.
lays down that all the key elements of Hong Kong's system
should go on 50 years beyond 1997. It insulates Hong Kong
from China, and China from Hong Kong. It assures Hong Kong
the same high degree of autonomy that it currently enjoys.
To take some examples
Hong Kong is to retain its existing legal,
economic, financial and social systems.