Protecting Free Trade: The Hong Kong Paradox, 1947-1997

Protecting Free Trade traces the story of a paradox that both limited and stimulated Hong Kong's post-war economy. In order to preserve its commitment to open markets, Hong Kong was obligated by international agreements to accept restraints on its exports; and in order to sustain its growth and development, Hong Kong had to subject its largest industry—textiles—to a massive network of restrictions. The focus is on how Hong Kong handled, through negotiation, attempts by developed economies to limit international trade through protective measures.