Fate has always been crucial to the success of individuals, and even to that of territories and nations.

Hong Kong was founded as a "pirate island" and transshipment point for opium. By the time it was turned over to the British on 26 June 1843, the British merchants in China had already seen its future--Hong Kong would forever be a deepwater harbor and free port.

Hong Kong developed slowly during the first century of British rule. In Hong Kong: Epilogue to an Empire, Jan Morris writes that the 1949 success of the Communist revolution in China marked a turning point for Hong Kong. Fleeing disaster, the mainland's business titans poured into the territory, bringing with them their families, money, personal networks and business acumen.

In 1950, the Chinese Communists involved themselves in the Korean War, initiating a long standoff between China and the West and bringing trade between the two to a standstill. Without access to the Chinese economy on which it had depended, Hong Kong was forced to stand on its own. Turning its attention to the rest of the world, the British colony underwent an economic transformation.

Hong Kong built its economic success on its own. By the 1980s, it was the brightest jewel in the crown of the fading British empire. It was also the largest--its population of 6 million exceeded that of the rest of Britain's remaining overseas possessions combined.

Hong Kong was justly proud of its achievements. But, on the eve of the 1997 handover to China, this same pride prompted a worried and resigned Hong Kong friend to remark that the disparities in Hong Kong and China's levels of development were sure to drag Hong Kong down. In his view, Hong Kong's only hope was that its decline would be slow and China's rise would be quick, allowing them to come together at a level still acceptable to the people of Hong Kong.

The East Asian Financial Crisis that soon followed was completely unexpected, and it battered Hong Kong. The ineptitude of Hong Kong's Beijing-selected leader likely played a role in the territory's subsequent difficulties, but needing to turn to China for help in extricating itself from its troubles not even five years after the handover was a blow to Hong Kong's pride. The city that had so successfully grown its economy after cutting its umbilical cord with China now depends upon China for its economic well being. Most of its traditional manufacturing has moved to the mainland, leaving its economy polarized and hollowed out, and contributing to a sense of unease.

With much of the world's media busily analyzing the decade since the handover, Taiwan Panorama was initially not interested in addressing the topic. Upon consideration, however, we decided that there were enough similarities between Hong Kong's and Taiwan's histories to warrant discussion. After all, both were once ruled by colonial powers and both were integrated into the capitalist system in the wake of World War II after having escaped Red China's grasp. There were also similarities between British colonial rule and the martial law of the Nationalist government: people saw making money as their only outlet under both systems. This accustomed them to battling for personal gain while ignoring public concerns.

But Taiwan is different. Here, the 1980s rise of Nativist literature led people to reflect on local culture. A string of popular political movements followed once martial law was lifted. The island then underwent a democratic transformation as direct elections for the presidency were instituted. In more recent years, we've seen renewed interest in reclaiming Taiwan's cultural and historical memories, efforts to promote both traditional and high-tech industries, the growth of a sense of nationhood, and recognition of the right to self-determination. Over the last 20 years, Taiwan has moved from being seen merely as an "economic entity" toward a more comprehensive and deeper exploration of what it means to be Taiwanese. Will Hong Kong take a similar path to a consciousness of itself as a society in its own right? Or will its people decide that there is no need?

This issue of Taiwan Panorama also features stories on a number of successful Taiwanese from a variety of fields, including ultramarathoner Kevin Lin, allergy researcher Chang Tse-wen, industrial designer Duck Hsieh, and the Taiwan-born founder of YouTube, Steve Chen. We applaud their achievements.