By Maria Weber
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Extra info for After the Asian Crises: Perspectives on Global Politics and Economics
In this scenario, growing social and political unrest would provide the more conservative elements in the CCP with the justiﬁcation to seize power, supported by part of the Army and usher in the return of an oligarchic and totalitarian system. We must always consider the fact that, while a degree of critical discussion has been tolerated in the nineties, President Jiang Zemin recently reminded the world that: ‘Any factor of instability, as soon as it appears, shall be resolutely nipped in the bud’ (CCP Conference, 23 December 1998).
Internationalising China’s countryside: the political economy of exports from rural industry’, The China Quarterly, 128, December (1991), 716– 41. 2 The Crisis in Northeast Asia: the Cases of Japan and South Korea Corrado Molteni Japan and South Korea, the powerful economic engines that used to push and pull the Asian economies, have been severely hit by the crisis affecting the region. Growth rates have fallen, the basis of their ﬁnancial systems are shaken and well-established economic institutions like the Japanese keiretsu and the Korean chaebols have to restructure, downsize and change time-honoured customs and practices.
The Basic Law (BL) of the SAR, which was promulgated by the NPC in 1990 under Article 31 of the PRC Constitution but actually came into force on 1 July 1997, upon re-uniﬁcation, provides that the former British colony will retain its present socio-economic and legal system for at least 50 years. Many have expressed their doubts as to whether Beijing intends or is capable of respecting the autonomy granted on paper to Hong Kong fearing, on the contrary, that Chinese rule would lead, in the long term, to authoritarian control of the former colony and a gradual decline in the independence of the judiciary.