Economic Conditions in Hong Kong Unemployment went from 2.5% in 1997 to over 6% in 1999 GDP fell to historic low of minus 5.1% in 1998‚ with slight improvement to 0.7% in 2nd qtr. of 1999. Property sector was dominant growth driver in Hong Kong‚ over 65% of stock market valuation and 50% of bank lending. Tourism was only 4% of economy activity in 1998 and 1999. Gov’t. hoped to diversify with a tourist attraction. $104B to territory from tourism in 1996‚ dropped to $55B in mid-1997. The Walt
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Economies of Hong Kong and the Pan-PRD Why the Heritage Foundation ranked Hong Kong as the first “free economy” in the world? Hong Kong has been ranked the freest economy in the world by the Heritage Foundation for the 19th consecutive year since the index was first published in 1995. We will see the criteria of a free economy according to the Heritage foundation. Then we will explain why and how Hong Kong is ranked as the first free economy in the world. Criteria of “free economy” according
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Singapore‚ a past British colony that became independent in 1960s‚ are very similar to Hong Kong in several aspects: 1. They have a shared history of colonial pasts; with British rule extending up to hundred years‚ setting the foundation of their political systems. Both Singapore and Hong Kong inherited British democracy and integrated it with the society. 2. They’re both global financial centers and used to be Asian tiger economies. With similar size of the economy‚ two cities perched at the top
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Disneyland in Hong Kong- Good or Bad? The aim of this essay is to discuss the advantages and disadvantages in having Disneyland coming into Hong Kong. Disneyland is a famous theme part‚ with outlets all around the world‚ including Japan‚ America and France. And now‚ Disney decided that the next theme part it is going to locate itself is Hong Kong- is how beneficial will it be to Hong Kong? The diagram on the left shows the proposed location of Disney land in Hong Kong. It will be situated at the
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I agree that Hong Kong is an attractive place for tourists. In this essay‚ I will give reasons why I think so. First of all‚ Hong Kong is a shopping and eating paradise. There are a rich variety of shops and cuisine in this small city. Tourists can buy high quality products from other countries such as digital cameras‚ beauty products and electronic appliances. In addition‚ tourists can also sample different kinds of food from different countries for example Japan and India. Korean food is also
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favorite restaurant on campus? For me‚ Hong Kong Noodle is my favorite restaurant. They have really authentic food and make me feel like home. For example‚ the minced beef and scramble egg with rice‚ fried squid‚ and Wonton Soup are something I always order. However‚ these are only tip of the iceberg. Known as the “Food Paradise”‚ Hong Kong cuisine is almost influenced by all over the world due to the fact that it has a long history of being an international city. Therefore‚ you can choose from a
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Government should consider abolish the linked exchange rate system or pegged Hong Kong dollars with China Yuen (RMB) rather than the U.S dollars. The main reason is for this is it will help the future development of Hong Kong economy. Exchange rate is how much a currency worth in terms of other currency. If currency is free floating‚ which allows the exchange rate vary against other currencies determined by the market forces of supply and demand. Some countries may use fixed/pegged exchange rate
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between Hong Kong and mainland using concepts introduced in this course. Introduction Hong Kong‚ located at the southern coastal of China‚ fully shows the diversification of culture‚ with a mix characteristics of different backgrounds. Hong Kong is currently under the rule of the PRC as a special administrative region‚ with the practice of ‘One country‚ two system’. Hong Kong exercises capitalism under the rule of the British government and thus continues its practice after the handover. Hong Kong
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1. The main attraction within Hong Kong Disneyland is the park called Adventureland. It is the biggest of all the parks within Hong Kong Disneyland. It has many attractions‚ it features a large island area home to Tarzan’s tree house‚ which compares to the Rivers of America in the Magic Kingdom. It also has a popular “Festival of the Lion King” show. The park is made up of four themed parks which consist of Main Street‚ U.S.A‚ Adventureland‚ Fantasyland and Tomorrowland. The park also plans to expand
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Hong Kong during the 1950s and 60¡¦s Hong Kong is often looked upon as the capital of free trade. Located in the center of Southeast Asia‚ this is no small coincidence as to the region¡¦s success. It is based upon effective governance and the intensive working attitude of the local people. Nevertheless‚ Hong Kong has had to confront numerous challenges in order to achieve its status in the world market today. In the early 1950s‚ Hong Kong underwent enormous changes which totally transformed its
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