In lieu of an abstract, the first paragraph of the essay follows:

In July 1997, Hong Kong will be handed over to the control o{the People's Republic of China (or "mainland China," as is the customary phrase) after more than a century of British rule. The Cantonese, who populate Hong Kong and a good deal of southern China, have tolerated the foreign presence fairly amicably and have benefited from the territory's low taxation and trade freedoms. Today, Hong Kong is one of the world's most dynamic financial centers. In most banks there are video monitors displaying the latest share prices on the Hang Seng lndex; at underground stations large screens trail live foreign currency exchange rates. Pocket pagers bringing instant financial news are commonplace; portable telephones are ubiquitous. By and large, Hong Kong is a vibrant, financially-oriented, sophisticated, and informed society.