Encouraging Economic Growth in Hong Kong and Singapore

Encouraging Economic Growth in Hong Kong and Singapore

American InterContinental University

Abstract

Variables that have motivated economic growth have been land, low personal and corporate taxes, and investments in infrastructure. The government owning all the land or even the majority of it is inefficient and can lead to economic problems. The ability to go into a large conglomeration, for example, the ASAN would be an enormous bonus whether that nation is trying to move forward or not. Presently, with lower taxes there will be lower cost, which would imply that there is a higher interest to employ in the country. Individuals and organizations need to recognize that they have guaranteed ownership of something in a land to feel comfortable having their business or home there.

Encouraging Economic Growth in Hong Kong and Singapore

Individuals have regularly pondered what components has permitted smaller states, for example, Hong Kong and Singapore to add to a diverse economy and proceed with successfully advertising their assets to urge multinational associations to take part in business with them. Variables that have allowed for economic growth and development have been land, low individual and corporate expenses, and interests in infrastructure. In order for Hong Kong and Singapore to flourish they need to advance their economic growth somehow.

A recently industrialized nation is one that has fallen into a category that is in between a first world and a developing nation. Usually these are nations that have moved quite a distance away from a traditional agriculture based economy and has instead become more of an industrialized economy. This describes the nations of both Hong Kong and Singapore well throughout the 1970’s-1980's (Investopedia, 2011). These nation both continue to grow even today, and there are many ways for them to create a stable position within the global economy. With the goal to help and encourage growth within the Hong Kong and...