Thursday, March 17, 2016

Declining Hong Kong Port Heralds a Grim Future

From the Salad Days

Shipping has played a singular role in the modern history of Hong Kong, dating back to 1841 when British naval officers claimed the large, placid harbor with the idea that it would serve as a perfect gateway to China's internal markets. The port's period of greatest prosperity was the latter half of the 20th century, following China's economic opening to the outside world. Between 1972 and 2012, the volume of cargo moving through the port increased almost 18 times over, with the fastest growth between 1990 and 2000.
Two types of business propelled that growth — and both are now under serious threat.

No comments: