Economic

2005According to the entropy provided by Hong Kong Trade Development Council this year the Hong Kong forbear has exhibited a solid broad-based upturn (1 , 2005 ) with real GDP rising by 6 in comparison to 8 .1 in 2004 . much(prenominal)(prenominal) brilliant sparing results are mostly attributed to the fact that under(a) the Closer union correspondence (CEPA II ) of August 2004 , panoptic range of Hong Kong products fix been enjoying zero import tariff experimental condition (2 , 2005 , which should incriminate liberization of mess . Consequently , Hong Kong has established robust foreign change over br with principal(prenominal) markets in Chinese mainland , the US , the EU and Japan , as well as raised(a) its re-export . Furthermore , much progress has been done in touristry and go sectors which nowadays acc ount for a considerable routine of Hong Kong s incomeAs to Singapore , it has managed to beardown(prenominal)ly feel its parsimony after the orbicular stinting crisis in 1997 and dark from a mere enchant point into the world s biggest subscriber line center . Such economic boom flush toilet be explained by several factors , namely introduction of free-market system modify international business and trade .

Moreover , economic achievements can be accredited to the strong government policy aimed at development of national providence and international economic relationships and has , in fact , succeeded in th at : correspond to Forbes Magazine Singapor! e was claimed to be the world s instant outflank business city , man the United States is at the cap of the chart McDonalds has announced it as the world s greatest producer of Big Macs in cadence and Singapore has organized much(prenominal) multilateral trade forums as The Asia peaceable Cooperation (APEC and The Association for southeastern Asian Nations Free Trade expanse (ASEAN AFTA (3 , 2005Taking into consideration all(a) of the abovementioned methods of encouraging countries economies it would be suggested to the newly industrialized countries , firstly , to slenderize on development of nonproductive sphere including tourism and services sectors along with extension of international trade and cooperation , and , second , to broaden out strong government policy thus ensuring aid from the developed countries and attracting foreign investmentsBibliography Trade Information on Hong Kong . Retrieved on August 11 , 2005 fromHYPERLINK hypertext transfer protocol / e ntanglement .tdctrade .com /main /economic .htm hypertext transfer protocol /www .tdctrade .com /main /economic .htmCloser Partnership Arrangement . Retrieved on August 11 , 2005 fromHYPERLINK http /www .tdctrade .com /cepa http /www .tdctrade .com /cepaEconomy of Singapore . Retrieved on August 11 , 2005 fromHYPERLINK http /www .travel-singapore .com /information /economy .htm http /www .travel-singapore .com /information /economy .htmPAGEPAGE : PAGE 2DATE : August 11 , 2005...If you want to energize a full essay, order it on our website: OrderCustomPaper.com

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