Economic

2005According to the entropy provided by Hong Kong Trade Development Council this year the Hong Kong thrift has exhibited a solid broad-based upturn (1 , 2005 ) with real GDP rising by 6 in comparison to 8 .1 in 2004 . often(prenominal) hopeful sparing results are mostly attributed to the fact that under(a) the Closer federation correspondence (CEPA II ) of August 2004 , panoptic range of Hong Kong products break been enjoying zero import tariff experimental condition (2 , 2005 , which should loaded liberization of mess . Consequently , Hong Kong has established robust foreign great deal br with important 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 without delay account for a considerab le routine of Hong Kong s incomeAs to Singapore , it has managed to beardown(prenominal)ly discover its parsimony after the orbicular stinting crisis in 1997 and off from a mere enchant point into the world s biggest championship center . Such economic boom shag be explained by several factors , namely introduction of free-market system change international business and trade .

Moreover , economic achievements can be accredited to the strong government policy aimed at development of national scrimping and international economic relationships and has , in fact , succeeded in that : correspond to Forbes Magazine Singapore was claimed to be the world s sec outflank business city , date the United States is at the cap of t! he chart McDonalds has announced it as the world s greatest producer of Big Macs in measure 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 , runner , 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 consequently ensuring aid from the developed countries and attracting foreign investmentsBibliography Trade Information on Hong Kong . Retrieved on August 11 , 2005 fromHYPERLINK hypertext transfer protocol / web .tdctrade .com /main /economic .htm hypertext transfer protocol /www .tdctrade .com /main /economic .h tmCloser 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: OrderEssay.net

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