While Hong Kong has done the same in the past, its policy has diverged at this point. Faced with an influx of labour from the PRC, Hong Kong now faces a situation where it needs to focus on bringing in high-end labour, rather than the unskilled labour that is currently flooding in. Singapore shares a similar need, but has less space for new arrivals. A more open border with Johor Bahru on the mainland gives Singapore the ability to house labour out of the country that Hong Kong does not enjoy, but could encourage businesses to relocate there as well, to Malaysia's benefit. Singapore has also focused on trade more than Hong Kong has. Traditionally, Singapore has adopted a role as a trade hub, where Hong Kong was a finance and insurance hub. As both economies have diversified, they have taken different paths. Singapore today remains committed to labour growth and strong government intervention in the economy, while Hong Kong seems to prefer stemming labour growth and uses government to encourage private investment. The result is that despite the surface similarities, there are significant differences between Hong Kong and Singapore with respect to how they promote economic growth....
Thus, while Hong Kong emphasizes trade policy, Singapore emphasizes macroeconomic policy.
Singapore has long built its economy on its strategic positioning for trade. The country is now home to the world's second-largest container port according to the World Shipping Council (2013). The country's position as a leading trade makes it a natural place to find solutions to global supply chain issues, and has also encouraged a significant amount of foreign direct investment in the country. Foreign companies have set up shop
Human Resources Management: How to Improve Minimum Wage Policy Management in Hong Kong The objective of this research is to analyze the advantages and disadvantages of minimum wage legislation in Hong Kong. When hike minimum wage can help lower skilled worker. This study will conduct an evaluation of the minimum wage hiking and how it can help the lower skilled workers and will additionally compare benchmarking minimum wage legislation with other
Economic Growth in Hong Kong and Singapore: The main goal of the World Bank is to assist developing countries and their citizens to achieve objectives through partnership with its allies to alleviate poverty. As a result, this financial organization has currently been advising newly industrialized countries on methods for encouraging economic growth. Notably, various methods can be used to encourage economic growth for typical companies in Hong Kong and Singapore. Economic Growth in
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This shift in Hong Kong's economy as a response to a more open Chinese economy has been explored in detail by economists and academics. This relationship is reciprocal and not one-sided, as China benefits from increased numbers of jobs and industry that are imported from Hong Kong, and Hong Kong benefits from the increase in service jobs and a higher quality of life and income provided by the move to away
Leadership Hong Kong Leadership Developments in Hong Kong Hong Kong is one of the great business centers of the world. As such, its business and leadership cultures have been subject to many of the paradigm shifts and economic trends that are attendant to the globalizing world economy. This makes this a useful context within which to examine some of the more important recent developments in leadership theory. Included among them, the discussion
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