An analysis of the future of hong kongs economy

Despite a slight decrease due to the increased imbalance in the trade balance, the current balance will remain largely in surplus. Since the company launched its ginseng-based pain-killer in Januarythe product is so popular that demand has far exceeded supply.

Apart from co-operation in marketing and commercialisation, Hong Kong can also collaborate with the mainland in modern Chinese medicine development.

Economy of Hong Kong

It is a core value that sustains our very existence as an international business hub. CVLs are insolvent liquidations. Other companies, such as handbag retailer Coach and watchmaker Jaeger-LeCoultre, which viewed Hong Kong as a cash cow, have been closing stores.

My family is very proud that my brother William served as a Chairman of the Chamber. Retailers in China are embracing digital technologies faster than many of their counterparts in the US or Europe. Enforcement of a legal decision A domestic judgment is enforceable once it becomes final if no appeal is lodged within 28 days.

The value of retail sales, in nominal terms, increased by 7. If that happens and relations with Beijing remain tense, it will be very difficult for Hong Kong to mitigate the impact of its structural and cyclical problems.

Its sales in Hong Kong and Macau fell on an annualised basis by 22 per cent in the three months to the end of June. These strengths are lacking in the western region, hence providing a basis for co-operation.

There are many but, in particular, I would focus on the rule of law. It is an independent statutory body responsible for implementing regulatory measures on Chinese medicine. Mr Tsang and Li Ka-shingthe billionaire whose interests in Hong Kong stretch from ports to property and retail to telecoms, have both warned that the economic outlook is worse than that faced during the Sars epidemic inwhich killed people and prompted the last sharp slowdown.

Considering Chinese medicine consumption is already strong in the mainland market and has become increasingly popular overseas, the market potential of Chinese medicine is substantial.

Locally, the Chinese Medicine Council of Hong Kong has set local standards for regulation and registration of Chinese medicine.

TCM is generally accepted as curing rather than merely relieving the symptoms, and at the same time low in toxicity and other side effects. The courts are not involved and the process is entirely voluntary.

The Hong Kong dollar will remain anchored to the US dollar. More than countries have established special organisations for research into and development of traditional Chinese medicine. Among many positive outcomes has been the entry of developing countries and small-and-medium-sized enterprises SMEs to the global economy; a long period of low inflation, and a favourable environment for technological innovation.

It is possible that elections for the partially democratically elected legislative council in September could alter the balance of power in Hong Kong, if only slightly. The number of cities on the Chinese Mainland has more than trebled sinceto more than We have the ability to manoeuvre and to jump onto opportunities quickly.

I mention retailing not just because we have had a lot of experience there but because I believe it is a bellwether of profound changes taking place within the Chinese economy and the economy worldwide. The latter, will remain a significant risk factor indespite measures to contain prices and prevent the bursting of a housing bubble.

The Second Wave of Globalization With the confluence of these trends we are seeing what I would call the second wave of globalisation. In the choppy waters between the first wave of globalisation and what I am calling the second wave, Hong Kong is not alone in experiencing a widening wealth gap and shrinking job prospects in certain sectors, especially for the young.

However, the low unemployment rate — 3. Importantly, a rising share of business transactions are now denominated in Renminbi rather than Hong Kong Dollars or US Dollars, such is the growing Chinese influence in region.

The creditor is also required to file a notarised Statement of Claim. Not that the globalisation of production will just stop.

Hong Kong's Future in the New Global Economy

For instance, significant achievements have been made in the compilation of an herb monograph9 that can be used as identification data analysis of characteristic components and effectiveness of traditional Chinese medicine formulations and research on new medicine with special curative effects.

Liquidation Liquidation can be voluntary or compulsory. A scheme of Arrangement is a statutory, binding compromise reached between a debtor and its creditors. Meanwhile, numerous pharmaceutical enterprises in the Chinese mainland are also eager to break into the world market through co-operating with Hong Kong.

She intends to integrate young people into civic life and introduce educational reforms. At present, two local universities provide full-time degree courses on Chinese Medicine in Hong Kong.

Product development also requires less investment, in terms of research and development costs, and the markets for these products are buoyant.Access the latest politics analysis and economic growth summary through for Hong Kong from The Economist Intelligence Unit Hong Kong Economy, Politics and GDP Growth Summary -.

An analysis of Hong Kong’s Traditional Chinese Medicine market and it’s future - Assignment Example On In Assignment Sample As a colony of UK, Hong Kong joined WTO on 1st January of future growth of Hong Kong.

In Section 2, we will present a brief discussion of the previous growth of Hong To abstract our analysis from intra-economy resource allocation, let us assume that the economy of Hong Kong can be represented by a single sector producing a homogeneous product.

This sector consists of competitive. Learn more about Hong Kong's economy in the Index of Economic Freedom. The report contains Hong Kong facts, including Hong Kong's population, GDP, business, trade, inflation and more.

Under the British scheme of things, manufacturing was the mainstay of the economy of Hong Kong, thanks to its buzzing port which facilitated the movement of goods.

Geographically, Hong Kong stands at the center of the Greater Pearl River Delta region, which also includes Macau and a part of Guangdong. Prices and wages in Hong Kong are relatively flexible, depending on the performance and stability of the economy of Hong Kong.

Hong Kong's economic future became far more exposed to the challenges of economic globalisation and the direct competition from cities in mainland China. In particular, Shanghai claimed to have a geographical advantage.

An analysis of the future of hong kongs economy
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