Hong Kong SAR, China and BRI’s Globalization: A Review

Abstract

This article looks at the differences and similarities between globalization and the role of China on globalization in particular for the Hong Kong Special Administrative Region of China (HKSAR). This article is based on research, reading, interviews on globalization during many years and the author published a book on the BRI in 2020. In comparison with the BRI, Hong Kong is a limited space which was rather prestigious financially; but the Shanghai Financial Center, opened lately on 28 August 2008 is a unique place in Mainland China able to be compared at present to Hong Kong which as a major financial since 1970 emerged as one of the main global financial centers located in East Asia. At present after New York and London comes Shanghai Financial Center before Hong Kong. China’s Globalization called OBOR in 2013, was replaced by the BRI (Belt and Road Initiative) in 2017. This is a key global new Silk Road not only for China and Asia, but also for Hong Kong Special Administrative Region (China), Macau (China), Australia, Africa, South-East Asia in particular, and countries in Latin America such as Bolivia and Venezuela. The new globalization of the century called Belt and Road Initiative (BRI) is a unique and global way to boost the economy of China and reinvent the Maritime and Land Silk Road of China which is 2000 years old. The HKSAR's involvement in the Greater Bay Area is not fully understood. Macau is particularly significant since it was the first point of globalization in the sixteenth century. China, the world's second largest economy, is truly a global country, with Chinese people living on all continents. The role of the Chinese Internet is also significant. Hong Kong Special Administrative Region is a part of the Greater Bay Area. China is now creating BRI, the century's new globalization.