Symposium studies Hong Kong's future

The future of Hong Kong -- long the subject of mass speculation among Chinese, British and the business world -- drew people from around the world to the Law School last week for a two-day symposium. The symposium -- sponsored by the University's Journal of International and Economic Law -- was entitled "From British Colony to Chinese Special Administrative Region: Implications for Hong Kong's Economy and the Rule of Law." Because Hong Kong will end 99 years of colonization -- and indirect rule -- by the United Kingdom and revert to rule from mainland communist China in July, its situation is unique and complex. "There simply is no precedent," explained John Shinkle, a representative from the Hong Kong division of Salomon Brothers and one of the 13 speakers at the symposium. The speakers, who will submit papers on similar topics to the Journal, discussed the imminent changes in Hong Kong's government and economy, and its role as an economic center. And while few who attended the event were completely unfamiliar with the issue, speakers dispelled some of the rumors and common perceptions surrounding July 1. "Our ignorance of Hong Kong and Asia in general is so enormous it's mind-boggling," said William Dowell, former Hong Kong bureau chief for Time magazine. "When I've gone out and talked to people, they don't care? they want to do business and get on with it." Certain roadblocks to the transition remain, but the Chinese and British governments have been working in tandem since 1982 to make the process smooth and well-planned. Daniel Fung, Hong Kong's solicitor-general who spoke at the symposium's Thursday evening banquet, explained how the policy towards the hand-over -- dubbed "one country, two systems" -- assures that Hong Kong will remain fairly autonomous despite the power transaction. Hong Kong will be designated a Special Administration Region of the People's Republic of China, whose government has promised that little -- especially Hong Kong's economy -- will change. Other speakers -- such as Kerry Dumbaugh, a specialist in Asian affairs at the Congressional Research Service -- urged the United States to "reinforce Hong Kong's separateness from the PRC" and protect human rights. Dumbaugh added that the U.S. government needs to be especially attentive during the "divisive" month starting June 4 -- the eighth anniversary of the Tiananmen Square massacre -- when demonstrations are most likely to occur. But Benjamin Fishburne, a partner for for the law firm Winston and Strawn, said the transition should not change people's feelings. "You've got good investment bankers, good lawyers, good accountants, and they all want to stay despite the fact that it's more expensive [to live there] than just about anywhere," he said.