China Sea And Pearl River Delta

These effective strategies helped Hong Kong overcome the financial crisis. All these facts fully demonstrated that China is a responsible big country. After the Asia financial crisis, the importance of China's economy has been brought into focus; China's neighboring countries have begun to recognize the influence of the Renminbi.

many goods and services targeted to the mainland Chinese market was traded via Hong Kong

During the 1980’s, Hong Kong was known for its wealth, and it was recognized for its politics, expensive real estate prices, as well as their entertainment. During that time, the manufacturing industry fell, as other economic aspects like foreign trade and personal and general community services increased. Since manufacturing

China economy experienced an incredible growth in the last few decades that made the country the 2nd largest economy in the world. When China started the program of economic reforms in 1978, it ranked 9th in nominal GDP but 35 years later it’s now ranked 2nd in the nominal GDP and been the world’s manufacturing hub. In recent years, China’s modernization propelled the tertiary sector and in 2013, it became the largest category of GDP with a share of 46.1%, while the secondary sector still accounted for a sizeable, 45% of the country’s total output. Meanwhile, the primary sector's weight in GDP has shrunk dramatically since the country opened up to the world.

The technology level of the production is quite high compared to the many other cities in the world. The port increases the importance of the city among the other developed cities in the North America. Subsequently, Vancouver has reached a peak in the social and economic development. The Vancouver city could develop an elastic production structure, and it is possible to create new industries as well as the transformation of the old industries into new modern versions. This is important for the sustainability of the economic and social development because, after the most recent global financial crisis, the global economy has entered a new era and a high level of transformation has become necessary for tackling the adverse influences of the financial crises in the new era. Vancouver economy can transform its economy easily because it has economic structure elastic enough for the transformation if it becomes necessary (Vancouver Board of Trade,

To start off, a historical context will be given with regards to the events leading up to the colonization of Hong Kong. China had been exporting vast quantities of goods, such as porcelain, silk, and tea, to nations in Europe, with Britain taking up most of the exports. However, Britain was dissatisfied with the rate of their export to China. When a country has imports coming in and relatively less exports back to the respective country, the country (Britain, in this case) with imports coming in will lose money to the exporting country (China). As a result of this, Britain attempts to negotiate open trade with China and allow for more imports into

Although the total size of China’s economy has grown at an astonishing pace, being the second largest economy in the world by now, its real GDP per capita does not tell the same story. China is still quite far behind most developed countries by this measure. The other problem facing both countries now is growing income

The successes are named as South Korea, Japan, and Taiwan. Malaysia and Thailand are considered to be moderately performing, but lagging behind. Finally, he classifies the Philippines and Indonesia as failures. The final section of the book is solely dedicated to China as it presents a unique case. China has developmental characteristics that are similar to both the successful countries of Northeast Asia as well as the poorer Southeastern Asian countries. China has made great progresses and overcome great disasters. It has worked closely alongside the World Bank and even receives technical support from it when needed. But not without paranoia, which has actually caused China to prosper. Unlike the northeastern countries, Chinese peasants do not own their own land as it is collectively owned and is not allowed to be sold under law. In modern times, China’s developmental plan is based off of recognizing the past failures associated with state-led growth, while allowing state companies to play an important role in its economy. Also, foreign owned companies play a large role because other countries outsource their labor needs to China because it is much cheaper. Overall, Studwell states that China’s government has set the stage for the enablement of rapid economic development. The author

. In the contemporary scheme of things China makes up for roughly 11% of the world’s exports, an amazing feat for a country that practiced an isolation policy and communism only forty years prior. Additionally, China with a large-scale allocation of funds to improve poverty ratings has successfully brought four hundred million people out of poverty, into a lower-middle class. Now, while still competing with Japan for Asian hegemony, China enjoys a great deal more security and prosperity through its transformation from a failing communist state to a wealthy hyper-capitalist state. Through capitalistic economic reforms, an export led economy, and efficient one-party, authoritarian politics China has been able to bounce back from three decades

“I believe that the only plausible explanation for the different rates of growth is socialism in Britain, free enterprise and free markets in Hong Kong. Has anybody got a better explanation? I’d be grateful for any suggestions.” Milton Friedman asks us this in his 1998 essay: The Hong Kong Experiment. Milton Friedman was part and founder of a school of economic thinkers called the Chicago School. This group believed strongly in the power of Capitalism, and although there are many definitions for this form of economic policy, Friedman and this paper us the following definition: “the organization of the bulk of economic activity through private enterprise operating in a free market”. Friedman in the aforementioned essay attempts to show us the benefits which a capitalist nation has over a socialist one. He uses, specifically, the case studies of the United Kingdom, Hong Kong, and Israel. Through these examples he postulates that it was Hong Kong’s capitalist policies which allowed it to succeed economically. There is no debating that Hong Kong is something of an economic miracle. The island began as small rock covered with a few fishing villages, and ended up being a world economic power. Friedman, however, makes the error of oversimplifying the situation of Hong Kong in the thesis of his essay. Hong Kong, by its very nature, does not exist in isolation. It is greatly affected by world politics, long history, and its own geography. We must understand Hong Kong’s success as a

From 1980 to 2010, China relied on a uniquely successful investment- and export-led development model for its 30-year miracle of double digit GDP growth. However, to make rapid industrialization possible, China directed most of its investments to the cities, financed massive urban infrastructure and development projects. In result of

The economy of China can be difficult to understand and follow; here is an overview on the Nation’s economy. In 1820 China was the largest economy in the world, today it is the second largest. China lifted more people out of poverty than any other country, to where urban areas in China, poverty is eliminated (Project Specialist, Economic Growth and Social Inclusion Initiative, World Economic Forum). China is the world’s manufacturing hub due to the fact that it specializes in labor-intensive and export led production of cheap goods. Many US companies prefer to manufacture in China because the work is fast and cheap. “China is the world’s largest exporter and the second largest importer of merchandise goods” (Project Specialist, Economic Growth and Social Inclusion Initiative, World Economic Forum). By 2030, it is expected that China will once again be the world largest economy.

Hong Kong is a region of China that has a tumultuous past. It was colonized by the British, captured by Japan, given back to the British, and eventually losing its sovereignty to China. The people of Hong Kong are an interesting mixture of economic classes, races, religions, and opinion. Recently, they’ve been in the news due to their protests for the hope of democracy in the region. This paper is an examination of how globalization is affecting the people of Hong Kong, and how they are reacting to the changes that are presenting themselves to them. I’ll look at aspects such as immigration, environmental changes, and the importance of the global economy to the region.

The Singapore economy had proved its resilience during the worst post-war recession and experience exceptionally high economic growth during the 42 years since its independence. For the period 1966-1973, the economy expanded consistently at a double-digit growth rate in real terms (Kum Poh, 1982, p.1). Gross Domestic Product (GDP) at constant prices continues to rise at an annual rate of 8 percent till 2005. With population growth at 2.1 percent, per capita GDP increased by 5.8 percent on average each year (Gesquiere, 2007, p. 12).

Hong Kong,as one of the world's leading international financial centres,it has a major capitalist service economy characterized by low taxation and free trade. It is known of the world's most services-oriented economy, with services sectors accounting for more than 90% of GDP.