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The Dragon and the CrownHong Kong Memoirs$
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Stanley S.K. Kwan and Nicole Kwan

Print publication date: 2008

Print ISBN-13: 9789622099555

Published to Hong Kong Scholarship Online: September 2011

DOI: 10.5790/hongkong/9789622099555.001.0001

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PRINTED FROM HONG KONG SCHOLARSHIP ONLINE (www.hongkong.universitypressscholarship.com). (c) Copyright Hong Kong University Press, 2022. An individual user may print out a PDF of a single chapter of a monograph in HKSO for personal use.date: 23 May 2022

Hong Kong after the War

Hong Kong after the War

(p.64) (p.65) 3 Hong Kong after the War
The Dragon and the Crown

Stanley S.K. Kwan

Nicole Kwan

Hong Kong University Press

This chapter discusses Hong Kong after its liberation from Japanese rule. After the surrender of Japanese rule, Hong Kong was once again reclaimed by Britain. Although China was hoping to reclaim Hong Kong for itself, the Nationalist government of China offered no protest to British advances as it was highly dependent on the U.S. for its armament against Chinese Communist groups and the U.S. was a staunched ally of Britain. Although Hong Kong once again found itself under the rule of Britain, the economic conditions of Hong Kong did not reclaim their former glory to start with. In addition to the wavering economic conditions, Hong Kong became a home for fleeing Chinese liberals and intellectuals who felt they had a confusing stand regarding China's civil war. With the increasing call for the socialist reformation of China, Stanley Kwan's family found itself caught and engulfed within the workings of the Chinese Communist Party (CCP) as Stanley's two brothers found themselves campaigning for the reformation. In addition to the radical shift in the governance in China, Hong Kong's Chinese-based traditions, such as extended families, began to dwindle. Among other changes in Hong Kong included its gradual recovery from economic stagnation. Hong Kong became an important trading post and while the U.S. embargo had caused a temporary stagnation, Hong Kong nevertheless benefited from it by forcing businessmen to look overseas for business opportunities and for ways to jumpstart manufacturing for export. From this point, Hong Kong changed its economic focus from entrepôt trade with the Mainland to manufacturing for export. Hong Kong in the latter half of the 1950s saw rapid industrialization. With the economy booming, Stanley Kwan decided to follow his father's footsteps and found himself within the world of banking.

Keywords:   Hong Kong, Britain, Nationalist government, Communist groups, civil war, socialist reformation, Chinese Communist Party, economic stagnation, trading post, entrepôt trade

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