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The Procedures Motivating Hong Kong And Singapore’s Economic Business

611 words - 3 pages

Abstract

The procedures motivating Hong Kong and Singapore’s economic business achievements through government involvement are moderately explained in this paper on how these two country’s businesses are presently being run.
Macroeconomics

Hong Kong is valued as a first-class business platform. Their success comes from a “one country, two systems” agreement that has been arranged by means of the Chinese mainland (export.gov, 2012). This agreement assures all the major strong points continue to be unaffected while allowing Hong Kong to propose innumerable economic benefits not established on the mainland (export.gov, 2012).
Hong Kong is devoted to open streams of exports, assets ...view middle of the document...

This groundbreaking and exceedingly prosperous economy where together the open market and the state have evenly resilient parts in the government is named the Singapore Model (economywatch.co, 2012).
The Singapore Model was established out of necessity. In order for businesses to function successfully in the market, an important requirement needs to be present. The right administrative procedures for businesses must be present (Teng, 2011). Singapore possesses a rather small domestic market, and therefore engages the economy to outside markets, which will in turn help the economy and businesses to succeed. Nevertheless, the fundamental weakness in relying on outside markets forced the government to legislate economic guidelines that would safeguard the country from distresses in the global market (Teng, 2011).

Singapore economic system produced amazing strength in the 2008 International Economic Crisis. When referring to the 2011 Index of Economic Freedom (heritage.org, 2012), they say that the 2nd freest economy in the world is Singapore. Singapore’s industry...

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