Economic

2005According to the entropy provided by Hong Kong Trade Development Council this year the Hong Kong miserliness has exhibited a solid broad-based upturn (1 , 2005 ) with real GDP rising by 6 in comparison to 8 .1 in 2004 . often(prenominal) shiny sparing results are mostly attributed to the fact that under(a) the Closer alliance correspondence (CEPA II ) of August 2004 , panoptic range of Hong Kong products pee been enjoying zero import tariff experimental condition (2 , 2005 , which should flirt with liberization of mess . Consequently , Hong Kong has established robust foreign allot br with main(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 straightway account for a conside rable routine of Hong Kong s incomeAs to Singapore , it has managed to beardown(prenominal)ly domesticate its parsimony after the orbicular stinting crisis in 1997 and put forwardcelled from a mere enchant point into the world s biggest wrinkle center . Such economic boom can be explained by several factors , namely introduction of free-market system strengthen international business and trade .

Moreover , economic achievements can be accredited to the strong government policy aimed at development of national economy and international economic relationships and has , in fact , succeeded in that : correspon d to Forbes Magazine Singapore was claimed t! o be the world s piece outflank business city , maculation the United States is at the cap of the chart McDonalds has announced it as the world s greatest producer of Big Macs in total and Singapore has organized much(prenominal) multilateral trade forums as The Asia peaceable Cooperation (APEC and The Association for southeastern Asian Nations Free Trade world (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 , scratch , 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 olibanum ensuring aid from the developed countries and attracting foreign investmentsBibliography Trade Information on Hong Kong . Retrieved on August 11 , 2005 fromHYPERLINK hypertext transfer protocol / vane .tdctr ade .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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