Question

what is The Return of Hong Kong and Macao, explain.

what is Opening-up and Reform explain that

Answer 1

The Return of Hong Kong and Macao

The Hong-Kong and Macau were returned to the People's Republic of China in the 1990s by the British and Portuguese authorities resp. These two are considered as the Special Administrative Regions (SAR) of China. However, some of the laws such as that of the currency, judiciary, official language, and the passport are different in Hong-Kong and Macau from the rest of the China. When these regions were reunified with China, it was decided that for the next 50 years the previous capitalist system of governance will be active with a view of maintaining a stability instead of adopting the Chinese socialist system. The local people of Hong Kong are unhappy and are facing injustice from the mainlanders with this return, however, the people of Macau have experienced some major improvement in tourism and economy since the return to China.

Opening-up and Reform

With an aim of attracting the foreign investments, the China adopted Opening-up to the world and the social and economic Reform policies in 1978 under the leadership of Deng Xiaoping in the Third Plenary Session of CPC. This finally led to the reunification of Hong-Kong and Macau with China. A majority of new businesses were initiated after this leading to industrialization and a growth of GDP. As a result, the living standards have increased drastically. However, a major drawback of this reform is the increasing inequality in the wealth of people.