Encouraging Growth

Running Head : ENCOURAGING GROWTHEncouraging Growth : Hong Kong and capital of Singapore (Full visit of the Student (Course and Number (Department and University (Academic Year SemesterHong Kong and Singapore are standardised in many aspects . They are both city-states that are densely populated with predominantly Chinese population of immigrant stock . Although they pay back no natural resources the British colonized them in the nineteenth century solely for trading purposes . Hong Kong became to be China s midway of trade while Singapore was established to oppose the maritime commerce Dutch monopoly in the South-East Asian component part . Able to become as British free ports , their sparings prospered into free port trade and into diversified labor intense producers and traders for the world marketSingapore s export-oriented industrialization was boosted when it separates from Malaysia in 1965 while Hong Kong became more industrialized after its free port trade was cut clear up from China . During the 70 s , these city-states shifted into services which include finance gestate , communications and tourism . The slow growth of population improver the growth in export has enabled their citizens to become full busy which definitely raised their standards of living . This led them to become among the hardly a(prenominal) of the world s countries whose foreign trade exceeds their Gross Domestic Products (GDP . In the 1960s alone their real per capita income has risen to five percentBut due to their difference in economic clays , these city-states induce developed each distinct characteristic over the years . In Hong Kong , the political relation is more relaxed and can concentrate on national issues because confidential enterprises accept their sparing to a highly entrepreneurial finish . In Singapore , their paternalistic government and the multinational corporations (MNCs ) lead the country into a continuing economic growth then producing dignified and fiscally conservative business people .

entrepreneurial culture is clearly a priority in Singapore and a process of government firms privatization promotion of local enterprises and revamping their system of education to encourage creativity for their next generations is now current . Hong Kong on the one hand has a positive lookout man on its present government even with the change in their politics . With the reinstatement of Chinese rule , most of the populations in Hong Kong have changed their expectations but still being independent when it comes to trade . They overly believe that the rule of Chinese government and its vast economic participation in the world s market provide them entrepreneurial protection . And so with Hong Kong s non-interventionism policy and Singapore s less-interventionist government the economy of these two city-states continue to grow and prosper ADDIN EN .CITE Tan3Kenneth TanEconomic Systems plain Comparisons2006Mar ch 12 2008http /www .bu .ed u /econ /faculty /kyn /newweb /economic_systems /Country_comparisons /hong_kong _and_singapore_lg .htm (Tan , 2006These are the important factors behind the economic growth of these two city-states . In habitual , they are all effective in providing a square(a) economic background and backup to a country curiously if it is newly industrialized . But one of the best methods for a country to become more industrialized especially during these...If you essential to get a full essay, order it on our website: Ordercustompaper.com

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