Hong Kong and the knowledge‐based economy: developments and prospects

Abstract

Purpose

The purpose of this paper is to examine Hong Kong's future economic diversification prospects to become a high value‐added knowledge‐based economy.

Design/methodology/approach

This paper is a view of the knowledge‐based economic development of Hong Kong and its potential future prospects since its re‐unification with China. It is important to have a good understanding of the past before trying to predict the future.

Findings

The key message is that Hong Kong now needs a “horizontal” support structure, a good understanding of how things work in a globalized knowledge economy, continuation of the “free market” structure and a lightweight facilitation system that supports all high‐value added economic activities in Hong Kong.

Originality/value

The papers provides an original viewpoint on the potential for Hong Kong's knowledge‐based economic development, in line with the rise of China as a global economic power.

Citation

Lung Ka‐Lun, A. (2012), "Hong Kong and the knowledge‐based economy: developments and prospects", Asian Education and Development Studies, Vol. 1 No. 3, pp. 294-300. https://doi.org/10.1108/20463161211270509