Economics In A Global Environment

Similar factors that have contributed to the scotch growth of capital of capital of capital of Singapore and Hong Kong atomic number 18 their strategic location as portals to markets such as mainland china , Indonesia and Malaysia . They are both post-colonial economies , although Hong Kong made the transition back to China in 1997 . The colonial inheritance of efficient and structured governing of the countries is on par with each other . The two economies develop large export-dependent domestic manufacturing sectors following the same transitional lines from textiles with to electronics , emerging as centres within Asia for Banking and Financial Services . twain economies are limited in their agricultural and primary intersection output , due to both nation density and easy land This leaves the economies to rely on manufactured goods and services for frugal growth . The following table illustrates the growth of the two economies from 1960 to 1985 (Young , A . 1992. 15The key differences between the two economies were the skill set of the prod markets and the level of governing body intervention . Hong Kong s labour force had high levels of education mainly due to post-war immigration from mainland China , than Singapore who had an accumulated mix of cultures including Chinese , Malay and Indian . The government in Hong Kong took a more laid-back approach to instituting regulatory factors on market forces and to capital developmentHowever , Singapore s government intervened tout ensemble within the market through regulation , sought contrary investing , developed long capital investment strategies and oblige the capital savings of its population . The following table demonstrates the speciality between the Singaporean and Hong Kong educational levels from 1947 through to 1971 (Young , A , 1992. 17For a newly industrialized nation , the ideal model for economic growth combines a mixture of the two economic models of Singapore and Hong Kong . Investment in educating their population and encouraging the immigration of dexterous workers creates a base for expansion of entrepreneurial activities and investment opportunities .

spot it is important to embolden the long-term savings culture of the population this must be balanced with available capital to encourage immediate growth . Over-regulation , as in the case of Singapore spate stifle entrepreneurial ventures . Whilst Singapore has excellent long-term planning and infrastructure , the majority of capital ventures have been owned and driven by the Government . To develop growth , investment and entrepreneurial activities need to happen within an encouraging and sincere economy . This mixed-type model creates a balanced economy that can diversify and adapt to changing economic environments and the evolving needs of the marketReferencesRichards , A (1994 . Hong Kong , Singapore , Malaysia and the Fruits of Free Trade . OECD Observer , a (185 , 29-33 . Retrieved may 4 , 2007 , from Questia database : http /www .questia .com /PM .qst ?a o dWilliamson , J . G (2001 . 5 Demographic variegate , economical Growth , and Inequality . In Population Matters : Demographic Change , Economic Growth and Poverty in the Developing being , Birdsall , N , Kelley , A . C Sinding , S (Eds (pp . 106-132 . New York : Oxford University conspire Retrieved May 4 , 2007 , from Questia database http /www .questia .com /PM .qst ?a o d 4...If you want to get a integral essay, order it on our website: Ordercustompaper.com

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