Word: deng
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...share pride in the reunification of China, and they harbor some misgivings about their new landlords, but they're ready to give their new system a chance. The awkward title of Special Administrative Region, HKSAR as it will be known, signals just how hard it will be to implement Deng Xiaoping's promise of "one country, two systems" with a "high degree of autonomy." At issue for Chinese on both sides of the new internal border is not only whether Hong Kong's system of advanced capitalism under the rule of law can be grafted onto the stunted system...
Guangzhou was the first city to open for business after Deng launched his economic reforms in 1979, and its vibrant populace threw itself headlong into the pursuit of cold cash. Taking advice and investment from Hong Kong, Guangzhou hustled to become China's third biggest consumer market, second most important transport hub, third best attractor of foreign investment. Today Guangzhou's tycoons worry about competition from Hong Kong, and Beijing worries about the example Guangzhou sets for China...
DIED. PENG ZHEN, 95, oldest of China's "Eight Immortals" whose longevity was equaled only by his authoritarian influence; in Beijing. Purged from his position as Beijing's mayor during the Cultural Revolution, he returned in 1978 as head of parliament under Deng Xiaoping. Peng later supported hard-line policies like cracking down on protesters in Tiananmen Square...
What really deserves to be questioned, though, is Deng Xiaoping's "one country, two systems" plan for the the co-existence of China's socialism and Hong Kong's capitalism within one national boundary. "One country, two systems" has set the tone of China's policy toward Hong Kong for a long time. China has had to assure Hong Kong of its own future. It has felt it necessary to give confidence to the millions of Hong Kong residents to whom Deng gave his famous guarantee that Hong Kong's autonomy would remain for 50 years after 1997. This promise...
Economic reform accelerated through the early '90s with Deng's re-affirmation of China's open door policy, which suffered setbacks after 1989. The optimistic atmosphere led to a large flow of foreign investment into China from Hong Kong and other parts of Asia, as well as from the U.S. and Europe...