World Bank

The World Bank is currently advising newly industrialized countries on how to encourage growth and they leave asked for your help. Using the internet and new(prenominal) resources, research the factors behind economic growth in Hong Kong and Singapore. Which of these methods of boost growth would you suggest to a newly industrialized parsimoniousness? It appears the collectible east Asian market, especially, Singapore and Hong Kong have come divulge of there economic slump quite miraculously. Through a variety of methods they have ensured a strong economic future, non only for themselves, but for the world economy. They currently rival atomic number 63 in its trade with the United States (Stanford News Service, 2006). The question is how they got to this pull down and how otherIt appears Singapore and Hong Kongs success lay in threesome common factors. By creating a strong infrastructure, take placeing an American economic philosophy, and utilizing economic freedom they have risen from the ashes to turn a strong power in an economy found world (Stanford News Services, 2006). According to John M. Leger, hard engagement + low taxationes + high savings + minimal government have equaled an economic boom (Stanford News Services, 2006).

Leger has found East Asians work longer hours and have fewer paid holidays than workers in Europe; in addition Koh has found the maximum income tax rate is lower which encourages savings (Stanford News Services, 2006). All in all this allows a strong development of infrastructure due to the countries being able to finance domestic investment, especially in education (Stanford News Services, 2006). In areas of education and post standby education, birth rate mortality, agriculture, and a lack of severe cost distortions Singapore and Hong Kong have been able to create a strong, permanent infrastructure (Stanford News Services, 2006). newly industrialized nations can follow in their foot steps. Singapore has since realized that it cannot continue this level of growth by just increasing... If you want to get a full essay, order it on our website: Ordercustompaper.com

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