Foreword — vii

Preface — ix

I An Outline 1 The Riddle of Growth Acceleration — 3

II The Entrepot Economy 2 The Institutional Framework — 11

3 Population Pressure — 25

4 The Bottleneck of Primary Industries — 32

5 Decline in the Traditional Source of Income — 45

III The Industrial Revolution 6 Nature and Mechanism of the Industrial Revolution 7 The Adaptation of the Infrastructure — 77

8 The Impact of the Housing Boom — 91

9 The Expansion of Clothing and Food Manufacture — 106

10 The Application of Inventions and the Effects of Cultural Progress — 109

IV Dynamic Balance-sheet 11 Hong Kong's Political Arithmetic — 133