...Economic Growth Analysis-Hong Kong and Singapore Student Name American InterContinental University Abstract The purpose of this paper is to analyze and present 2-3 methods presently being utilized to spur economic growth for the typical firm in Hong Kong and for the typical firm in Singapore. The author will recommend the most advantageous method for each firm, and discuss reasons the approach was chosen. Economic Growth Analysis-Hong Kong and Singapore Every country desires to attain economic growth. Hong Kong and Singapore, both former colonies of England are no exception. Historically, both were known for their strong trade presence in Asia. Recently, however, both their economies have been struggling to grow (HKDC.com 2014). The first method being used to encourage economic growth is the introduction of new technologies. Openness to all that the technological age brings can only lead to many more opportunities for economic growth. Developed nations are always at the ready to introduce new products and ways to improve living standards. The second method being used to encourage economic growth is investing in human capital. Training domestic workers to learn new skills will open the way to employment for domestic workers which in turn allows capital to flow into the economy for goods and services. The third method to spur economic growth is outward orientation. Working with other countries in a partnership to export as many products as possible...
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...introduction Hong Kong is one of the fastest growing economies in the world. It is also one the four Asian Tigers. Aim of this paper is to find out how Hong Kong’s “positive non-intervention” policy and rules-based approach applied in the practice and how it helps Hong Kong achieve enormously success. The factors account for the success of Hong Kong economy are that openness and freedom from foreign exchange rate and fiscal policy, reasonable economic policies, and non-interventional approaches to economic policymaking, and high trade volume. Even though government plays a minor role during the structural transformation and economic growth, it does not mean that government’s role is not important. In fact, government’s approaches help Hong Kong succeed in many ways. The first part of the essay will review brief background when Hong Kong was under British governance in 1950s and 1990s. Second part of this paper will investigate the rise of manufacturing in Hong Kong and during 1950s and 1960s. Third part of this paper will focus on the change in type of manufacturing during 1970s. Fourth part of this paper will examine the rise of financial sector in Hong Kong during 1980s to 1990s. In each of the periods, government’s impact on the economy will also be discussed. Hong Kong’s economy miracle between 1950s and 1990s is an excellent economic model to learn from for the rest of the world. Hong Kong government’s hands-off approach would also give guidance of economic development for...
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...Economic Growth Strategies for Hong Kong and Singapore Christopher S. Veler May 1, 2013 Macroeconomics 224 Economic Growth for Hong Kong and Singapore Hong Kong and Singapore were both considered newly industrialized countries during the 1970’s and 1980’s. A newly industrialized country can be classified as a country that falls between a developing country and a first world country, economically. Both Hong Kong and Singapore were British colonies that once served the region with distinguished trading ports. Both countries also attracted talent world wide and capital that turned into international financial centers. Unfortunately, in recent years, both of these countries have seen their growth rates fall. In 2012, Hong Kong and Singapore saw a growth of 1.5% and 1.3%. In 2013, their growth improved, but they faced both increasing costs and weak growth among some major export markets, which attributed to their struggles in economic growth. Both of these countries are still growing and trying to find their place in the global economy today. One change they have made is that they have moved away from an economy based on agriculture and focused more on industry. The remaining portion of this paper will discuss strategies that these countries may want to consider implementing to help further encourage economic growth in their country. One strategy that both Singapore and Hong Kong should implement to improve economic growth is to join organizations such as the Association...
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...DSME 5011 - Economics Clara Tak-Wai LAW EXECUTIVE SUMMARY 1 2 INTROUDCTION BACKGROUND OF EXPORT TRADING 2.1 China 2.2 Hong Kong 3 TYPES OF EXPORT GOODS AND SERVICES 3.1 China 3.2 Hong Kong 4 ECONOMIC DEVELOPMENT 4.1 China 4.1.1 4.1.2 4.1.3 4.1.4 4.2.1 4.2.2 4.2.3 5 5.1 Participation of Global Trade Association Foreign Direct Investment Currency Valuation Structural Changes Free Trade Policy Close Economic Partnership Arrangement with Mainland China Availability of Venture Capital 4.2 Hong Kong MARKET CHALLENGES AND TRENDS China’s Challenges 5.1.1 Inflation 5.1.2 Government Interference 5.1.3 Social Unrest 5.1.4 Unbalanced Regional Development 5.1.5 Low Domestic Consumption 5.1.6 Poor Technology & Substandard Products 5.2 Hong Kong’s Challenges 5.2.1 Global Markets 5.2.2 Emerging Markets in Asia 5.2.3 Increasing Competition 5.2.4 Change of Export Business 6 HONG KONG SUSTINAED COMPETITION POSITION 6.1 6.2 6.3 6.4 6.5 Better Trading Cooperation Doing-Business Climate Better Transportation Means Advanced Info-Communication Network Skillful and Technical Manpower 7 CONCLUSION REFERENCES & APPENDIX Macroeconomics Individual Paper 2 DSME 5011 - Economics Clara Tak-Wai LAW EXECUTIVE SUMMARY China becomes the 1st exporter in the world after 25% rise in 2009 and export is the major contribution of its economic development in the past decades. Accelerated growth of the world export share was to 40% from 8% in 5-years time. The combined factors driving...
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...Shark Finning in Hong Kong: What are the social and economic factors of shark finning in Hong Kong and how will it have an affect on the remaining population of sharks? Victoria Abstract The rapid economic growth in Hong Kong over the past few decades has had an immense effect on the amount of shark finning taking place. With GDP steadily increasing the recent change in the spending patters has only contributed to an overuse of this resource. The pricing patters of this product show that as long as fishing remains economically viable sharks will continue to be at risk of extinction. There has been a lack of motivation to raise awareness on this topic and as long as fishing remains economically viable it will just continue to occur. To reduce the amount of shark finning in Hong Kong we need to enact more ant-finning regulations. Keywords: finning, Hong Kong, disposable income What are the social and economic factors of shark finning in Hong Kong and how will it have an affect on the remaining population of sharks? Shark fins are a valuable product and a delicacy to people in Hong Kong and many other surrounding populations that are heavily Chinese, but this overfishing has led to a major depletion of the shark species. Although several countries have made the effort to ban shark fishing, if it continues to happen at the current rate there will be a risk of extinction. Hong Kong has only increased their amount of shark fishing because of the recent growth and expansion...
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...Executive Summary Hong Kong is believed the world best location in the world to startup a foreign business. Due to Hong Kong provide a clean business-friendly environment, a stable government fiscal and the advantage of its location. In addition, with the sustainable growth of the GDP and the simple tax system with its low tax rate which made it an attractive place for investment. However, the highly polluted environment and the over-heated real estate would be a big concern for Hong Kong government. In addition, the dependence on land sales revenue should have to reduce if Hong Kong government wants to achieve a long- term fiscal sustainability. The table below clarifies that different level and different type of risk shown from this evaluation and analysis report, reveals that overall risk are in the low level of risk, except for the real-estate and environment risk. Therefore, Australian investor should expected the business operate in Hong Kong would be fairly and equally treated. However, due to the culture difference, that although Hong Kong is a mixed in high and low context culture compare to China and Japan, the minor culture barrier still remain. | |Type of risk |Level of risk | |Factors |- Political system |Low | | |- Legal system...
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...Hong Kong is a financial center with low taxation and enjoys free trade from all around the world. However, there are a plenty of people who cannot own or even rent an apartment because of the high housing prices. According to the Hong Kong Audit Commission(2014), there are 22.8 million peoples who are in a waiting list of public rental housing and most of them are from lowincome families, singletons, elderly and unemployed people. Most of them are living in urban slums known as "cage home" because they cannot afford the payment of rent or buy house. Therefore, It is demonstrated that the housing boom of Hong Kong not only had the positive impact, but negative. This essay will describe two of the factors influence the demand for housing in Hong Kong, including lowinterest rate and intensive population, as well as analyze the benefits and disadvantages impact of the housing boom. "A runup in housing prices fueled by demand, speculation and the belief that recent history is an infallible forecast of the future"(Investopedia, 2014). The meaning of the housing boom is that housing prices continue to increase, because of the consumer would like to make a profits through sale of real estate. Hong Kong has a very lowinterest rate compared to other neighboring countries such as China, India and Korea. According to the Trading Economics(2014), the benchmark interest rate in Hong Kong was last recorded at 0.50 percent compared with other countries 6 percent, 8 percent...
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...| Hong Kong and Shenzhen’s Coopetition in Logistics Industry | Assignment 2 – LGT5013 Transport Logistics in China | | | CHAN PUI YUK, SIMON 10670562GFUNG MEI SHAN, JO 10670090GLEUNG TING CHEUNG, VINCE 10609081GLO WING LING, WINNIE 10634888GYIP KIM HUNG, CURTIS 09608879GYUEN MAY YEE, ELSA 10670039G | Executive Summary Hong Kong Port, being the world busiest port for 12 years from 1992 to 2004, is globally well known and this container port industry became one of its vital economic pillars. Such a prosperous development began in 1970s with the boom of manufacturing business activities. The effect on the end of ‘close-door policy’ of China was reflected in early 1990s due to the launching and the rapid development of ports among Pearl River Delta. Hong Kong started to face severe challenges from the neighboring ports, its market share drops significantly since 1997; whereas that of Shenzhen grows rapidly. The goal of this paper is to analysis the current situations of Hong Kong Port and its relationship with neighboring ports in Shenzhen; and to derive possible strategies for Hong Kong to maintain and sustain its competitiveness under these circumstances. Table of Contents Chapter 1: Introduction 1 Chapter 2: Analysis 3 2.1 Hardware 3 2.2 Software 6 2.3. SWOT Analysis 10 2.4 Logistics Synergy (Co-opetition) of Hong Kong Plus Shenzhen 11 Chapter 3: Solutions 12 3.1 Framework Agreement 12 3.2 CEPA 12 3.3 PRD A5 Group 13 3.4 National 12th Five-Year...
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...associated with gaming amounted to almost 75% of government revenue. The relaxation of travel restrictions coupled with the growth in the gaming segment resulted in nearly 27 million travelers visiting China in 2007, an increase of almost 62% over the preceding three years. Macau’s traditional textile industry has gradually shifted base to China due to termination of the Multi-Fiber Agreement in 2005. The Closer Economic Partnership Agreement (CEPA) signed between Macau and China allows tariff free movement of goods from Macau to mainland China. Pataca, the currency of Macau is closely connected with Hong Kong dollar and is freely accepted in Honk Kong. Economic activities of Macau Services activities dominated by tourism and gambling contribute nearly 96% towards its GDP (gross domestic product). Wholesale and retail trade, financial services, construction, and transport and communications are the other tertiary sector activities. The industrial sector is dominated by electronics, footwear, textiles and toy manufacturing facilities. Industries or secondary economic activities constitute almost 4% of GDP. The contribution of agriculture to Macau’s economy is negligible. With only 2% of total area of Macau under agricultural use, the contribution of this sector towards GDP is around 0.1%. Apart from vegetable farming, fishing is a vital primary economic activity. Textiles, toys, electronic goods, footwear, and machinery items are the main exports of Macau. The imports include...
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...Asian Economic Miracle: The Wisely Chosen Economic Policies and The Economic Trend of 20th Century Van Nguyen Keystone College Abstract: Asian economic miracle refers to three groups of East Asian countries making miracle in transforming their economies from the third world to the first world ranking. There are three generations of Asian miracle. Starting with Japan, the first generation of what called Asian miracle, following with the second generation including South Korea, Hong Kong, Singapore, and Taiwan, and final generation consists of some Southeast Asian countries such as Thailand, Malaysia. This paper is going to talk about the second generation of Asian economic miracle. By showing their economic achievement, illustrating their economic policies, and analyzing how the economic trend of 20th century reflected on those policies, this paper will argue that Asian miracle was the result of the wise choices of how to manage an economy. Furthermore, developing countries should learn the lessons of how to choose the right economic policies to make economic miracle. Asian Economic Miracle: The Wisely Chosen Economic Policies and The Economic Trend of 20th Century Introduction According to the East Asian Miracle (EAM, World Bank, 1993), “East Asia has a remarkable record of high and sustained economic growth. From 1965 to 1990 the twenty-three economies of East Asia grew faster...
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...Product Launch Plan MKT 571 February 25, 2013 Meraj Khan Product Launch Plan General Electric (GE) is building the world by providing capital, expertise, and infrastructure for a global economy (G.E., 2013). The corporation is preparing for the launch of the Smart Helmet in Japan and Hong Kong markets, respectively. The Smart Helmet offers improved safety and modern technological capabilities through Bluetooth synchronization and Global Positioning System (GPS) with a heads-up visor display. This paper considers components of the product launch plan for Japan’s domestic market and Hong Kong’s international market. The plan includes a description of the product and positioning, targeting, market needs and growth, SWOTT analysis, the competition, objectives and strategy, pricing and financial information, communication plan, distribution strategy, and market research for the plan. GE anticipates the detailed plan will result in a successful product launch. Product Description The Smart Helmet is designed primarily as a protective covering for the head of any cyclist who desires a full-face helmet. As a product of innovative thought, the Smart Helmet increases safety and convenience by offering a standard voice-activated global positioning system and Bluetooth synchronization with a heads-up projection at forward sky-level. Such features allow the rider to enjoy an uninterrupted journey with music, verbal companionship, and navigation without taking his or her eyes off...
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...Product Launch Plan General Electric (GE) is building the world by providing capital, expertise, and infrastructure for a global economy (G.E., 2013). The corporation is preparing for the launch of the Smart Helmet in Japan and Hong Kong markets, respectively. The Smart Helmet offers improved safety and modern technological capabilities through Bluetooth synchronization and Global Positioning System (GPS) with a heads-up visor display. This paper considers components of the product launch plan for Japan’s domestic market and Hong Kong’s international market. The plan includes a description of the product and positioning, targeting, market needs and growth, SWOTT analysis, the competition, objectives and strategy, pricing and financial information, communication plan, distribution strategy, and market research for the plan. GE anticipates the detailed plan will result in a successful product launch. Product Description The Smart Helmet is designed primarily as a protective covering for the head of any cyclist who desires a full-face helmet. As a product of innovative thought, the Smart Helmet increases safety and convenience by offering a standard voice-activated global positioning system and Bluetooth synchronization with a heads-up projection at forward sky-level. Such features allow the rider to enjoy an uninterrupted journey with music, verbal companionship, and navigation without taking his or her eyes off the road. GE’s new product is differentiated from competitors...
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...of multinational corporations from Hong Kong Introduction Although the origins of Hong Kong-based MNCs can be traced(ditelusuri) to the British colonial period and Hong Kong’s position as an entrepôt(gudang) for trade in South East Asia and China, indigenous (adat) Chinese firms(perusahaan) based in Hong Kong emerged(munculnya) as MNCs in the early 1950s, thus reflecting(mencerminkan) a longer history by comparison to MNCs from Taiwan and South Korea whose emergence(muncul) can be traced(ditelusuri) to the early 1960s. Hong Kong has grown to become a significant home country(negara asal) of FDI(foreign direct investment) with an outward FDI stock of ,$154.9 billion in 1998, or some 3.8 per cent of the global stock of outward FDI. Indeed, it had become the world’s tenth-largest source of FDI in that year based on the size of outward FDI stock after the United States (with a share of 24.1 per cent of the global stock of outward FDI), United Kingdom (12.1 per cent), Germany (9.5 per cent), Japan (7.2 per cent), the Netherlands (6.4 per cent), France (5.9 per cent), Switzerland (4.3 per cent), Italy (4.1 per cent) and Canada (3.8 per cent). In fact, Hong Kong is almost as important as Canada whose outward FDI stock was $156.6 billion in that year. Thus, Hong Kong had become a significant source of FDI in the world economy, particularly more so in relation to the stock of outward FDI from developing countries where Hong Kong is the single largest home country with...
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...associated with gaming amounted to almost 75% of government revenue. The relaxation of travel restrictions coupled with the growth in the gaming segment resulted in nearly 27 million travelers visiting China in 2007, an increase of almost 62% over the preceding three years. Macau’s traditional textile industry has gradually shifted base to China due to termination of the Multi-Fiber Agreement in 2005. The Closer Economic Partnership Agreement (CEPA) signed between Macau and China allows tariff free movement of goods from Macau to mainland China. Pataca, the currency of Macau is closely connected with Hong Kong dollar and is freely accepted in Honk Kong. Economic activities of Macau Services activities dominated by tourism and gambling contribute nearly 96% towards its GDP (gross domestic product). Wholesale and retail trade, financial services, construction, and transport and communications are the other tertiary sector activities. The industrial sector is dominated by electronics, footwear, textiles and toy manufacturing facilities. Industries or secondary economic activities constitute almost 4% of GDP. The contribution of agriculture to Macau’s economy is negligible. With only 2% of total area of Macau under agricultural use, the contribution of this sector towards GDP is around 0.1%. Apart from vegetable farming, fishing is a vital primary economic activity. Textiles, toys, electronic goods, footwear, and machinery items are the main exports of Macau. The imports include...
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...these two kinds of bank (CityA.M., 2015). The 11 criteria are used by HSBC to estimate which city to stay (Reuters, 2015). “Economic importance and future growth” between these three countries are obvious that Hong Kong is enjoying the benefits of rapid development of Asian countries ($14.9 trillion between 2014 and 2025). From the map, we can see Hong Kong and London has the advantages on “scale of existing HSBC presence” nearly at the same level (figure1, 2, 3). Figure1: Hong Kong Figure2: London Figure3: Toronto Hong Kong rank highest at 7th when UK and Canada is relatively 10th and 13th in the factor of “highly competitive economy” (figure4) (The Heritage Foundation, 2016). Figure4 Long-term stability includes aspects of political, public security and the financial that should be weighted heavier as economics aspect are also be easily affected by a city’s stability. In Hong Kong, “one country, two systems” has obviously weakened these few year. Lee Bo case shows that China government has more control on Hong Kong’s legal systems. London now has the possibility of leaving European Union (EU) by 2017. This might arouse the retreat of capital...
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