2) Provide two examples of Global Influence in Hong Kong?
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Answers
Answer:
The Hong Kong Special Administrative Region (SAR) has quickly ... The city of Shanghai offers the best example of this ... The drop in global exports also has a large impact.
Explanation:
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Answer:
SUMMARY
• The Hong Kong Special Administrative Region (SAR) has quickly
bounced back from the effects of the global economic recession
in 2008/09. Economic indicators for the first half of 2010 are
strong and attention is turning to the medium- to long-term
outlook and Hong Kong’s position in the region.
• The SAR’s links with the Mainland economy are still special,
though they are evolving and changing. While previously Hong
Kong has been seen as the gateway into China, in the future it is
also increasingly likely to be the gateway out of the People’s
Republic of China (PRC). It now needs to focus on how it can
best exploit this for its international positioning as others become
interested in directly attracting PRC funds and investment.
• Hong Kong currently stands in a unique position to exploit the
attractiveness of its stock market for the Mainland, and also to be
an RMB (renminbi) market. There are likely to be changes in all
these areas in the years ahead, and the SAR cannot be
complacent. Government and business policy-makers are now
engaging with a Mainland Chinese economy which in terms of
size and importance is growing increasingly important globally.
• Shanghai will continue to press its claims to be a major financial
centre. It is a policy goal of the government to make it an
international centre in the next decade. It will inevitably develop
an international role. However, the scale of development needed
to serve the Mainland’s burgeoning domestic financial
requirements is likely to absorb much of Shanghai’s energy and
resources. The issue for Hong Kong is how to adapt its historic
attributes to preserve key advantages, without being
overwhelmed by the demands, and indeed the risks, that the
Mainland presents: working with Shanghai, rather than against it.
• Hong Kong’s advantages are still clear – rule of law, a highly
transparent and efficient administration and a free press. Its
continued role as a leading international centre for finance and for
commerce more broadly depends on strengthening rather than
weakening such factors in the years ahead.