Wednesday 14 October 2009

Economic system of Hong Kong and Singapore


Well, at first glance Hong Kong and Singapoure are undeniably similar, because both they are small, with small population,they haven't got any important resources on their land, but these countries are on of the richest and highest GDP in the world. Hong Kong controls big and very important economic system in the world, for example, Hong Kong's very famous bank HSBC make a lot of finance operations in many modern and third world countries. They cooperate with famous banks such as RBS, Unicredit, Swiss bank. In spite of Hong Kong spent lots of money on resources such as oil, water,etc but they can make a really good profit on it and maintain their economics. And the most important part of economic system is that Hong Kong has included in group of Four tigers, with Singapore,South Korea and Taiwan and they have a special deal between each other. They have skilled workforce and have specialised in areas where they have competitive advantage. Singapore and Hong Kong became the world leading international finance centres and that's a big success while other big finance cities drop behind. Also Singapoure is very famous in electronic technologies, they make a massive amount of electronic things and they have a huge sea port, which maintain a big production with other big ports and improve their economic system. And one several years ago, Singapoure's government signed a deal with other countries of Four tigers group that Singapore will improve their education system because it will improve their productivity more and more. So, stability and one of the best economic system and biggest and modern financial centre attract many foreign companies and other biggest corporations to cooperate with each other.

1 comment:

  1. 1. please be careful with your English. Show this to Peter for corrections and THEN edit your post and make it perfect!

    2. You need paragraphs!

    3. Maybe have a picture of the logo of one of the banks and/or links to a few sites?

    4. Data on the HK economy - is it doing well?

    ReplyDelete