Bacher, Brigitte; Lorz, Oliver; Schuknecht, Ludger - Fachbereich Wirtschaftswissenschaften, Universität Konstanz - 1991
It is argued in this paper that China has invested heavily in the Hong Kong economy to build trust in its intentions to maintain the present course of economic policy. The investments have the character of hostages because their payoffs depend on a functioning Hong Kong economy. This increases...
