Scarce Land in Hong KongLand, capital, labour and entrepreneurship constitute the four factors of production. These are referred to as factors of production because people need them in their economic production ventures. Hong Kong, like many fast growing cities with vast population, is running short of land. In fact, it is already, a scarce resource. Problems such as insufficient housing are all due partly to the scarcity of land. Land is also required for public infrastructure and commercial structures. When land is scarce as it is in Hong Kong, it is the people who bear the brunt of high prices for housing. This is an indirect tax on land. Businesses face high costs of operation. It also becomes hard to put up critical infrastructure (So, 2014).
The land matter has been sensitive since the colonial days. Laurence Wong, the president and founder of Many Wells Property Agent Ltd. says as much. Wong is privileged to be an eye witness to the changes in land dynamics from the colonial time until when Hong Kong was handed over to the Chinese authorities. He observes that the land problem is here for a lot longer (Wong, 2014). The restrictions on supply of land courtesy of the topography and the regulations that govern it, Hong Kong now has the smallest ratio of land supply per capita among 10 comparable metropolises of Asia, America and Europe. Thus, the government has an urgent challenge on its hands to solve the land scarcity problem (Bertaud, 1997).
Causes of Land Scarcity
Land use restrictions and the topography including the steep hills, sea and island inlets are a stumbling block to resolving the problem. One may argue, though, that even though the latter aspects of land constraint are genuine, they also happen to be an attraction and make up a beautiful natural scene in Hong Kong. Regulation, were intended to ration land. This was justifiable given...
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International Marketing -- South Korea Country Study The primordial question at the basis of this study revolves around the attractiveness of South Korea to American investors. Otherwise put, is this country able to determine the American investor to launch business operations in this global part? In order to answer the posed question, a series of analyses will be conducted. Some of these will refer to the general context, whilst others will
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