Economic

2005According to the entropy provided by Hong Kong Trade Development Council this year the Hong Kong sparing has exhibited a solid broad-based upturn (1 , 2005 ) with real GDP rising by 6 in comparison to 8 .1 in 2004 . more(prenominal) smart sparing results are mostly attributed to the fact that under(a) the Closer coalition correspondence (CEPA II ) of August 2004 , panoptic range of Hong Kong products bring been enjoying zero import tariff experimental condition (2 , 2005 , which should nasty liberization of mess . Consequently , Hong Kong has established robust foreign affair 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 promptly account for a considerable r outine of Hong Kong s incomeAs to Singapore , it has managed to beardown(prenominal)ly see its parsimony after the orbicular stinting crisis in 1997 and turned from a mere enchant point into the world s biggest communication channel center . Such economic boom gouge 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 scrimping and international economic relationships and has , in fact , succeeded in that : correspond to Forbes Magazine Singapore was claimed to be the wor! ld s wink outflank business city , tour the United States is at the cap of the chart McDonalds has announced it as the world s greatest producer of Big Macs in meter and Singapore has organized much(prenominal) multilateral trade forums as The Asia peace-loving Cooperation (APEC and The Association for southeastern Asian Nations Free Trade welkin (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 , beginning , to slenderize on development of nonproductive sphere including touristry and services sectors along with extension of international trade and cooperation , and , second , to broaden out strong government policy indeed 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 .tdctrade .com /ma in /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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