Question

2) Provide two examples of Global Influence in Hong Kong?
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Answer 1

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 2

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.