Cause Analysis of Economic Fluctuation in Hong Kong After 1997

摘要

From 1997 when Asian financial crisis occurred till now, Hong Kong economy operation showed great instability. The percentage of manufacturing industry declined from 5.6% in 1997 to 3.6% in 2004. Some researchers believe the unbalanced industrial structure of Hong Kong hinders its economic growth. Low proportion of manufacture in GDP does not mean unreasonable industrial structure. This paper argues that the innovation of tertiary industry is the key to study Hong Kong economic fluctuation.