Hong Kong: Let's Make a 1997 Deal

The experiment will be unique in the annals of Communism's relations with capitalism. After nearly two years of negotiations, the governments of Britain and China last week completed a draft agreement that will end British rule in Hong Kong and launch a local government that, while being part of Communist China, will be based on private enterprise. Under the terms of the accord, to be initialed in Peking this week, Britain will continue to administer the thriving capitalist enclave until 1997. But in 1988 a 13-year transition period will begin during which a "joint liaison committee," selected by Britain and...

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