Louis Augustin-Jean is Research Fellow in the Centre for Economic Research, the University of Paris-North (CEPN). Anthea H.Y. Cheung is Visiting Lecturer in the Department of Chinese and Bilingual Studies at Hong Kong Polytechnic University, Hong Kong.

• 1. The Institutional Context: The Main Principles of "One Country, Two Systems" and the National People’s Congress Standing Committee Decision 2. The Bumpy Road of Hong Kong Economy between China and Globalization, and the Disenchantment of the Youth 3. China and Globalization Forces in the Rise of Inequality and the Prospects for Educated Youth 4. Closing the Loop: Oligopolistic Hong Kong – the Local Economy in the Shadow of the Competition Ordinance and Taxation Policies Conclusion

Louis Augustin-Jean is Research Fellow in the Centre for Economic Research, the University of Paris-North (CEPN). Anthea H.Y. Cheung is Visiting Lecturer in the Department of Chinese and Bilingual Studies at Hong Kong Polytechnic University, Hong Kong.

• 1. The Institutional Context: The Main Principles of "One Country, Two Systems" and the National People’s Congress Standing Committee Decision 2. The Bumpy Road of Hong Kong Economy between China and Globalization, and the Disenchantment of the Youth 3. China and Globalization Forces in the Rise of Inequality and the Prospects for Educated Youth 4. Closing the Loop: Oligopolistic Hong Kong – the Local Economy in the Shadow of the Competition Ordinance and Taxation Policies Conclusion

Louis Augustin-Jean is Research Fellow in the Centre for Economic Research, the University of Paris-North (CEPN). Anthea H.Y. Cheung is Visiting Lecturer in the Department of Chinese and Bilingual Studies at Hong Kong Polytechnic University, Hong Kong.

• 1. The Institutional Context: The Main Principles of "One Country, Two Systems" and the National People’s Congress Standing Committee Decision 2. The Bumpy Road of Hong Kong Economy between China and Globalization, and the Disenchantment of the Youth 3. China and Globalization Forces in the Rise of Inequality and the Prospects for Educated Youth 4. Closing the Loop: Oligopolistic Hong Kong – the Local Economy in the Shadow of the Competition Ordinance and Taxation Policies Conclusion