Can the Guangdong-Hong Kong-Macao Greater Bay Area Become the No. 1 Regional Economy in the World?

Can the Guangdong-Hong Kong-Macao Greater Bay Area Become the No. 1 Regional Economy in the world?
Table of Contents Abstract 4 CHAPTER ONE: INTRODUCTION.. 5 1.1 Introduction. 5 1.2 Purpose and benefits of study. 6 1.3 Research questions. 7 1.4 Significance of the study. 8 1.5 Implications of research. 8 CHAPTER TWO: LITERATURE REVIEW... 10 2.0 Introduction. 10 2.1 Overview of the Greater Bay Area. 10 2.2 The impact of globalization on China. 12 2.3. How the GBA compares to other major Bays. 13 2.4 The impact of the COVID-19 pandemic on the GBA.. 15 2.5 The GBA’s competitive advantages. 17 2.6 Implications of the GBA.. 17 2.7 Measures to enhance performance. 19 2.8 Challenges facing the Great Bay Area. 21 2.9 Theoretical Frameworks. 23 2.9.1 Regional integration theory. 24 2.9.2 Comparative regionalism theory. 25 2.10 Conclusion. 26 CHAPTER THREE: METHODOLOGY. 28 3.1 Methodological Approach. 28 3.2 Data Collection. 28 3.3 Data Analysis. 29 3.4. Methodological Limitations. 29 3.5 Problems Encountered and Solutions. 30 CHAPTER FOUR: ANALYSIS AND DISCUSSION.. 31 4.1 Infrastructure Development 32 4.2 How Infrastructural Development Aids the GBA.. 37 4.3 Business Environment 38 4.4 Political and Economic Environment 41 4.5 Competition from other Global Economic Regions. 45 4.6 Government Policies. 48 4.7 Application of Theoretical Frameworks. 49 4.8 Conclusion. 50 CHAPTER FIVE: CONCLUSION AND RECOMMENDATIONS. 51
Abstract
Background:
Countries continue to put measures to become more competitive in the global market. Regional integration is essential for increasing the interconnection of the global economy. China’s GBA is a strategic region for the country’s economic development. Understanding how the region can be developed and managed sustainably is essential in outlining what the GBA needs to achieve economic development.
Method:
The methodology for the study is a review of the extant literature. The study utilizes secondary research or studies to collect data.
Key Implications:
Analyzing the GBA's economic, social, and political aspects is critical in highlighting its development and identifying ways of addressing any negative implications. The study will assist the Chinese government in identifying ways of enhancing the economic development of the GBA.
The Purpose:
The purpose of this study is to determine whether it is possible and, if so, what it would take for the GBA to become the world's Number 1 regional economy in the world.
Keywords:
Economic development, regional economy, economic powerhouse, Covid-19 pandemic, trade barriers, and competitive advantages.
CHAPTER ONE: INTRODUCTION
1.1 Introduction
The world has become more competitive, with countries worldwide putting measures in place to enhance their competitiveness on the global stage. For instance, Aiginger, Bärenthaler-Sieber, and Vogel (2013) reported that the European Union has been working on new policies that enhance competitiveness by promoting new industrial and service industries. Given the global world and economy we live in today, gone are the days when countries could protect their economies using previous tools and policies. As a re...