Comparison Of Economic Growth Methods In Hong Kong And Singapore
Hong Kong and Singapore have distanced themselves from traditional culture based on the economy issues and have become more involved in industrialized concerns. To encourage growth and productivity in Hong Kong and Singapore, the World Bank has step in to help stabilized the economic issues. The World Bank is an important part of the financial and technical cooperation around the world that continue to help promote success in countries.
The way Hong Kong and Singapore have chosen to achieve their goals as newly industrializing economies is still a topic of many discussions throughout the world. Their shared economic fundamentals account for their achievements. Both of their governance has proved to be successful for transition to the newly industrialized status in economies in respectable sociopolitical contexts. It’s very difficult highlight differences among Hong Kong and Singapore; it should be noted the similarities they share. Both countries are still rapidly growing today, and there many ways they can continue to maintain their success throughout the global economy.
The World Bank is a vital source …show more content…
According to GuideMeHongKong.com (2010), Hong Kong is the world’s second best country for business openings. Singapore is ranked fourth in the world and top in Asia for having the best IP protection in the World Economic Forum’s Global Competitiveness Report. (ipos.gov.sg). In all businesses it is vital to know that the company solely owns their property rather than the being owned by the government. It is unlikely that someone would start a business if there is reason to believe that there could be expense factors or could risk being taken over by the government due to an unforeseen law or any conflict that could take