{"id":7959,"date":"2024-10-27T12:42:54","date_gmt":"2024-10-27T12:42:54","guid":{"rendered":"https:\/\/essayshark.com\/blog\/?p=7959"},"modified":"2024-10-27T12:43:32","modified_gmt":"2024-10-27T12:43:32","slug":"economics-essay-hong-kong-and-china-future","status":"publish","type":"post","link":"https:\/\/essayshark.com\/examples\/economics-essay-hong-kong-and-china-future\/","title":{"rendered":"Economics Essay: Hong Kong and China Future"},"content":{"rendered":"\n<p><div class=\"es-post-paper\"><br>\nThe economics of Hong Kong and the Chinese mainland are quite different in scope and the presence of economic freedom. Hong Kong\u2019s economy is considered as one of the most liberal because of low taxation and free markets.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Today China is the largest producer of most industrial products and the world\u2019s largest exporter. For many years China is known as the largest supplier of textiles, clothing, and footwear, watches, bicycles, and other labor-intensive products.<\/p>\n\n\n\n<p>Nowadays, Hong Kong and the Chinese mainland are in the framework of \u201cone country, two systems.\u201d According to this approach, the Central People\u2019s Government of China is responsible for foreign policy and defense of the territory of Hong Kong, and Hong Kong has all the powers of legislative self-control, monetary system, taxes, duties.<\/p>\n\n\n\n<p>Meanwhile, the Chinese mainland also contributes to a variety of integrative processes between it and Hong Kong. Till today the most significant achievement in this area was the signing of CEPA parties in 2003, which became the main instrument of intensification of the integration process between Hong Kong and mainland China.<\/p>\n\n\n\n<p>CEPA\u2019s policy of applying zero tariffs reduces the costs of goods import from Hong Kong to the mainland, thereby enhancing the competitiveness of these products and stimulating the growth of exports of Hong Kong to the mainland.<\/p>\n\n\n\n<p>CEPA also contributes to the process of the production division between Hong Kong and mainland China. CEPA will support the development of high-tech industries in Hong Kong, while mainland China will use its advantage in labor-intensive manufacturing. The Parties will cooperate in the fields of labor-intensive production, especially in those that are subject to market changes. For example, if some enterprises of Mainland China will transfer part of its manufacturing process to Hong Kong, they can avoid the policy of discrimination and safeguard the West against Chinese goods.<\/p>\n\n\n\n<p>Both sides can combine their advantages, so that Hong Kong companies will provide high-quality services for the manufacturing sector in mainland China, thereby enhancing the overall competitiveness of the Chinese economy.<\/p>\n\n\n<\/div>\n\n\n\n\n\n\n<p class=\"has-text-align-left\"><div class=\"es-post-quote\">We at EssayShark do hope you enjoyed reading our essay and now understand at least a bit how papers of similar kind should be written, or where to address your \u201c<a href=\"https:\/\/essayshark.com\/our-writers\/economics.html\">write my economics essay<\/a>\u201d request. The presented piece of writing can&#8217;t be used, but you can request one of our writers to help you with your unique topic and paper type. Don&#8217;t worry if you haven&#8217;t found the needed discipline in the order form &#8211; write it yourself and we&#8217;ll help you with any paper of any difficulty level!<\/div><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The economics of Hong Kong and the Chinese mainland are quite different in scope and the presence of economic freedom. Hong Kong\u2019s economy is considered as one of the most liberal because of low taxation and free markets.<\/p>\n","protected":false},"author":1,"featured_media":15256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-7959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-essay-samples","category-samples"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hong Kong and China Future Essay Example<\/title>\n<meta name=\"description\" content=\"The economics of Hong Kong and Chinese mainland are quite different in scope and in the presence of economic freedom. 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