Hong Kong is not a sovereign nation but a special administrative region of China. It was a British colony until 1997 when it was handed back to China under the ...
Jul 31,2023 | Jodie
Hong Kong is not a sovereign nation but a special administrative region of China. It was a British colony until 1997 when it was handed back to China under the "one country, two systems" framework, which allows Hong Kong to maintain a high degree of autonomy, except in foreign affairs and defense, for 50 years. While Hong Kong has its own legal system, currency, and immigration policies, it is not recognized as an independent actor by the international community due to its status as part of China.
A sovereign nation is a state that administers its own government and is not subject to or dependent on another sovereign for all or most prerogatives. This includes the right to determine its currency, political and fiscal frameworks, and other key aspects of governance.
On the other hand, a sub-sovereign nation, also known as a subnational government, refers to regional and local governments (RLGs) that are entrusted with the provision of some level of public services and have their own resources recognized by law, such as taxes, fees, and transfers received from the sovereign government. However, they are not considered sovereign entities and are not independent from the central or national government. Sub-sovereign governments are subject to the authority and oversight of the sovereign or central government, and their credit risk is generally higher than that of the sovereign government.
the main difference between a sovereign nation and a sub-sovereign nation lies in their level of independence and authority. A sovereign nation has full autonomy and is not subject to another higher authority, while a sub-sovereign nation operates at a regional or local level within the framework of a larger sovereign state.
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