Changes

===Economic boom===

===Economic boom===

[[File:Collage Hong Kong.jpg|right|120px]]

[[File:Collage Hong Kong.jpg|right|120px]]

In the 1950s, Hong Kong viewed Guangdong on the mainland as its economic past: an underdeveloped hinterland of cottage industries and peasant agriculture. Guangdong, meanwhile, looked on Hong Kong as its political past: a territory oppressed by colonialism. That is, Hong Kong leaders saw Guangdong as socialist=planned=unfree=poor. Meanwhile the Commuist leaders in Guangdong saw Hong Kong as colonial=exploitative=class stratified=dehumanizing.<ref> Seth Harter, "'Time Is Moving Forward, but We Are Moving Faster': Racing towards Modernity in Hong Kong and Guangdong, 1945-1962."  (2006). </ref>

In the 1950s, Hong Kong viewed Guangdong on the mainland as its economic past: an underdeveloped hinterland of cottage industries and peasant agriculture. Guangdong, meanwhile, looked on Hong Kong as its political past: a territory oppressed by colonialism. That is, Hong Kong leaders saw Guangdong as socialist, planned, unfree, and poor. Meanwhile the Commuist leaders in Guangdong saw Hong Kong as colonial, exploitative,class stratified, and dehumanizing.<ref> Seth Harter, "'Time Is Moving Forward, but We Are Moving Faster': Racing towards Modernity in Hong Kong and Guangdong, 1945-1962."  (2006). </ref>

The colony experienced some of the highest economic growth rates in world history during the last half of the 20th century. In the 1960s its average annual rate of growth was 13.2%, setting a world record. New factories opened, especially textiles and plastics. A major construction boom continued almost non-stop. In the 1960s the port became as a major center for world trade, exceeding all of China by 30%.  It became a major international financial center. Low taxation, a strong currency, and a free currency exchange attracted international banks and foreign investment, although uncertainty regarding the 1997 takeover sent some investors to Canada.  In the 1970s the growth rate slowed to a very high 8% annually. Per capita income soared, despite the fast growing population, and was the third highest in Asia by 1980, albeit less than half that of Japan.   

The colony experienced some of the highest economic growth rates in world history during the last half of the 20th century. In the 1960s its average annual rate of growth was 13.2%, setting a world record. New factories opened, especially textiles and plastics. A major construction boom continued almost non-stop. In the 1960s the port became as a major center for world trade, exceeding all of China by 30%.  It became a major international financial center. Low taxation, a strong currency, and a free currency exchange attracted international banks and foreign investment, although uncertainty regarding the 1997 takeover sent some investors to Canada.  In the 1970s the growth rate slowed to a very high 8% annually. Per capita income soared, despite the fast growing population, and was the third highest in Asia by 1980, albeit less than half that of Japan.