potential for future growth.
advantage and provides tremendous potential
attained remarkable
remarkable
China's reform and open door policy has attained
results over the past ten years, with the
the most
achievements being in the Southern part of the country.
Since World War II, Hong Kong has achieved a high economic
growth rate rarely seen anywhere in the world. The Territory has
succeeded in pursuing export orientated industrialisation by
exporting labour intensive industrial products to the interna-
tional market. During the process of its industrialisation, Hong
Kong has not only created many distinguished business talents of
international standard, but has at the same time created an
of ports, airport and
and communications that is
infrastructure of
amongst the most advanced in the world.
Hong Kong's rapid growth however, has produced some set-
backs. Wages have increased substantially along with average
income rises, whilst Hong Kong has suffered from having a compar-
atively small labour force, and from the rising cost of industri-
al sites due to the lack of available land. All these factors
have contributed to higher production costs, and as an inevitable
result, Hong Kong's comparative economic advantage is diminish-
ing.
7
No comments yet.
Private notes are available after approval.