Hong Kong's Development in the Global Economic Environment

HONG KONG'S DEVELOPMENT IN THE GLOBAL ECONOMIC ENVIRONMENT
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Abstract
This report looks at the economic development of Hong Kong over the past two decades, zeroing in on its role in a global setting. It delves into the effect of globalization, international trade theory, trade strategies, foreign direct investment (FDI), balance of payments, exchange rates, and competitiveness. Hong Kong's engagement with emerging economies, particularly the BRIC countries, is also explored in the report. Moreover, the city's diverse economic roles as a global financial center, investment center, and arising technology and innovation center are examined. The report also addresses the challenges of globalization, evolving environmental policies, and evolving management methods for resource allocation and decision-making in the city's dynamic business environment. The report covers Hong Kong's journey to be the best in the modern world.

Contents

Introduction. 1

2. Global economies. 1

2.1 Globalization and the Changing Global Business Environment 1

2.2 International Trade Theory and Policy. 2

2.2.1Trade Theory. 2

2.3 Trade Policy. 4

2.3.1 Low Taxes: 4

2.3.2 Trade Help: 4

2.3.3 Investment Promotion: 4

2.3.4 Free Trade Agreements: 4

2.5 Foreign Direct Investment (FDI) in Hong Kong. 5

2.5.1 Strategic location: 5

2.5.2 Favorable environment for business: 5

2.5.3 Monetary Center: 5

2.5.4 Regional headquarters: 5

2.5.5 Investment Promotion: 5

2.6 Balance of Payments, Exchange Rates, and Measures of Competitiveness in Hong Kong. 6

2.6.1 Balance of Payments: 6

2.6.2 Exchange Rates: 6

2.6.3 Measures of Competitiveness: 6

2.7 Economic Growth and Development in Hong Kong and the Influence of Emerging Economies  7

2.7.1 Economic growth: 7

2.7.2 Development: 7

2.7.3 Influence of Emerging Economies: 7

2.8 Regional Economic Activity: Global Financial Center, Investment Hub, Innovation, and Technology Capability in Hong Kong. 8

2.8.1 Global Monetary Center: 8

2.8.1 Investment Hub: 8

2.8.2 Innovation and Technology Capability: 9

3. part 2. 9

3.1 Globalization in Hong Kong. 9

3.2 Environmental Policy in Hong Kong. 10

3.3 Hong Kong practices to maneuver in business; Management Methods for Resource Allocation and Decision-Making in Organizations. 11

3.3.1 Data-Driven Decision-Making: 11

3.3.2 Lean Management Standards: 11

3.3.3 Risk management: 12

3.3.4 Strategic Planning: 12

3.3.5 Corporate Social responsibilities (CSR) integration: 12

3.3.6 Technology Adoption:&n...