Homework: Economic system of Hong Kong and Singapore.

So,I will start to explain Singapore Economic system: It has market economic system. The main thing,wich helps a lot to economic situation is World corporations. The GDP is one of the highest on the Earth. The main production is aimed on electronics industry, ship-building and financial services. Also it is imports lots of goods from other countries,because Singapore doesn't have its own products such as water(imports water from Malaysya). And Along with Hong Kong, South Korea and Taiwan, Singapore is one of the four asian tigers. The economy heavily depended on exports and refining imported goods, especially in manufacturing. The manufacturing industry is well- diversified with electronics, petroleum refining, chemicals and biometrical sciences.Also it has the one of the busisest ports in the world, and the world's fourht largest foreign exange trading centre after London,New York and Tokyo. it is also considered to be one of the top centres of finance in the region and the world. Singapore has been rated as the most business-friendly economy in the world with thousands of foreign expatriates working in multi-national corporations.

Hong Kong is one of the world's leading financial centres. It is highly developed capitalist economy. It is an important centre of finance and trade and also it is known as one of the four asian tigers for its high growth rates and rapid industrialisation between the 1960s and 1990s.
The Hong Kong stock exange is the sixth largest in the world with a market capitalisation of US$ 2.97 trillion as of October 2007, The currency used in Hong Kong is the Hong Kong dollar, wich was connected to US dollar in 1983. The government plays a passive role in the financial industry, mostly giving the power to market forces and the private sector.The territory has little arable land and few natural resources, so it must import most of its food and raw materials.