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Access to Asia: Your Multicultural Guide to Building Trust, Inspiring Respect, and Creating Long-Lasting Business Relationships by Sharon Schweitzer, Bob Waisfisz, Liz Alexander

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Chapter 6Hong Kong

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You can leave Hong Kong, but it will never leave you.

Nury Vittachi, Hong Kong: The City of Dreams

Introduction

The sun rises in the east, sets in the west, and meets in Hong Kong, also known as the pearl of the Orient. The island is a harmonious fusion of Eastern and Western cultures, the stepping-stone port of entry into China. Hong Kong's beautiful skyline, new airport, natural harbor, world-renowned shopping centers, and film industry all made it an international hub. There is little doubt that this East-West mindset is reflected in the way Hong Kongers conduct business.

This bicultural mindset has helped to create a flourishing service-oriented economy, representing one of the highest per-capita incomes in the world.1 Hong Kong is ranked first in the world, the top-rated economic freedom according to the Index of Economic Freedom, a spot it has held for 20 consecutive years.2 The economy is bolstered by the fact that it is a free port without customs tariffs or value-added taxes imposed. This market opens its arms wide to foreign investments without undue regulations and is a direct channel for investment in China. All these things have contributed to making Hong Kong a place with the ‘highest level of economic freedom worldwide.’3

Hong Kong is a world financial hub operating under ‘one country, two systems,’ providing autonomy in economic and social ...

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