Notes
- 1979 four special economic zones were opened for trade and investment with the west
- Foreign firms were allowed to operate here
- Cheap labour was provided
- New technology and management practices were introduced
- Most firms come from Hong Kong to take advantage of the cheap labour
Summary
Special Economic Zones were formed throughout China to increase trade and investment with the western world. The creation of these four zones took place 1979. This allowed for the operation of foreign firms within these sectors. The movement of industry into this part of the world was highly desirable by large corporations, as the labour was cheap. This called for the practices of new technology and management to be introduced. This caused more firms from Hong Kong to come over and take advantage of this newly formed and quickly growing market.
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Subjunctive Question
Had these economic zones not been formed, would Hong Kong still be the massive business place that it is today?