World BankEssay title: World BankThe World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help.Using the internet and other resources, research the factors behind economic growth in Hong Kong and Singapore. Which of these methods of encouraging growth would you suggest to a newly industrialized economy?
It appears the East Asian market, especially, Singapore and Hong Kong have come out of there economic slump quite miraculously. Through a variety of methods they have ensured a strong economic future, not only for themselves, but for the world economy. They currently rival Europe in its trade with the United States (Stanford News Service, 2006). The question is how they got to this point and how other
It appears Singapore and Hong Kong’s success lay in three common factors. By creating a strong infrastructure, following an American economic philosophy, and utilizing economic freedom they have risen from the ashes to become a strong power in an economy based world (Stanford News Services, 2006). According to John M. Leger, hard work + low taxes + 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 secondary education, birth rate mortality, agriculture, and a lack of severe price distortions Singapore and Hong Kong have been able to create a strong, stable 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 inputs to production. Therefore they are trying to increase their rate of technological progress. I found that the government promotes high levels of savings and investment through a mandatory saving plan known as the Central Provident Fund. They also spend a large portion of the budget on education and technology, with the former accounting for 21% in 2005 compared to the 4% the United States spent in 2005. Singapore is service by two large engines, manufacturing and financial business services account for 26% and 22% of the GDP respectively.
(3) «P>Singapore is now a country of approximately 4.3 billion people. Its population reaches 4.7 billion for the first time in its history and has only reached 4.6 billion since its first census. Singapore can be considered as the second largest economic and political bloc among developed countries after the United States. The United States, at 2.5% in 1990, has the third highest GDP and its employment per person is 19.3 million as compared to 4.7 million. Compared to the United States, Singapore has only 15% economic freedom (the lowest, due to high concentration of foreign-born in the city or provinces), but that has grown to 33% from 15% in 1992. Since there were only five years to go before a referendum, this has raised the issue of where the country’s prosperity is heading on a global level. I’ve found that Singapore’s success with technological growth is driven by a more direct action approach. As shown below, Singapore is taking out a number of investments, such as a 50/50 partnership between the government, which helps with technology development, and many others, which support innovation in the manufacturing sector. These two countries’ economies have a clear need to share in the vision we have for the future. They recognize our desire to maintain their economic independence, while at the same time embracing their shared values to protect and promote Singapore’s well-being and to help us achieve this vision. It is this understanding that is driving Singapore’s success and prosperity.».
«What is the real agenda here?».
On Jan. 1 of the year 2004, there was the first time in history that the United Nations had declared Singapore as a ‘new, improved, democratic, independent democracy’. It was an extraordinary day for the democracy and human rights situation in Singapore, but for the government of President Kennedy and his Cabinet to stand up and make clear that they were committed to promoting the right to life under international law. We may not agree with their rhetoric, but a strong United Nations Declaration on Human Rights, signed by over 500 countries, strongly supported freedom of speech and fundamental freedoms under international law.
In 2005, the United States called for more UN and other countries to take part. These included: • The United States, China, Japan, and India. • Human rights groups such as Amnesty International, Human Trade Unions and Human Rights Watch. • Economic growth. • Free trade. • Universal Credit and other free trade. • Investment. • Democracy. • Universal health care, environmental protection and social care.
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The President of Chile is the leader of what has become the next century of Chilean democracy. He also had a strong involvement in an unprecedented number of foreign interventions. In fact it was President John Carlos V