The potential costs of tourism brought to Hong Kong socially may be the extra pressure put on transportation services. In Hong Kong, even though over 90% of the population makes use of well-developed public transportation (Lam and Hsu, 2006), with the incoming of tourisms, the number of public transportations on the road would increase intensively which may result in the traffic jam and accidents. Since Hong Kong has a small territory area with large population size, the influx of tourists would definitely exert pressure on the usage of public
International trade is also knows as a globe trade which give the country opportunity to expands their markets for both good and services that otherwise may not have been available in other countries. This type of trade also give advantages for world to rise the economy in term of prices, supply and customer demands, affect and are affected by global events. All of the good and services can be found on international market. International trade will involve two types of process which be export and import. Export is a function of international trade in which the goods produced in a country will be sent to another country for future sale or trade.
International trade is a notion that involves an exchange of goods, service and capital across borders of territories that engage the activities of the nations, private companies or individuals. A country involving in international trade may either sell its goods and/or services to another country which is referred to as exporting; or buy goods and/or services from another country which is referred to as importing. Goods that are traded in the international market can include industrial machines, cloth, food, spare parts etc. The services that are involved in trade include transport and distribution, tourism, financial services etc. Export and import data are contained in the balance of trade which is one of the components of the current account.
This report mainly focuses on consequences that were brought to tourism in Hong Kong by the latter crisis. Table 1 shows that the USA, UK, North Asia and South East Asia are among the source markets that generate most tourists to Hong Kong. The high market share of long-haul markets indicates that Hong Kong tourism is vulnerable to world economy and thus would be negatively influenced if something went wrong. In 2008, tourists from long-haul markets such as the USA and European countries declined by 10% and hotel rooms were less occupied than ever before (Song, Lin, Witt, & Zhang, 2011). If the tourists increasing rate before the crisis is taken into consideration, conclusions could be drawn that the financial crisis really affected tourism in Hong Kong to a great extent.
This means that countries have to work together more closely and rely on each other for prosperity. International trade occurs because individuals, businesses and governments in one country want to buy goods and services produced in another country. Trade provides people with greater selection of goods and services to chose from and often these goods are available at prices lower than those in the domestic economy. International trade is the system by which countries exchange goods and services. Countries trade with each other to obtain things that are better quality, less expensive or simply different from what is produced at home.
International trade, also known as free trade refers to the exchange of goods and services across international bounders. In order to foster and facilitate the flow of trade and investment between trading partners with the intention of achieving economic growth and development. Historically, Economists have long faced a conundrum on the significance of the benefits and downsides of free trade. Moreover, whether free trade would benefit the country more or if other measures such as protectionism can make a better case and should be implemented instead. This is important as trade not only moulds our economy but determines the kind of world we live in.
In addition to that, free trade also improves the efficiency of resources as countries can allocate or trade in resources with each other freely. That being the case, countries can exchange and buy raw materials or resources they need easily, which improve production rate as they can focus on making products of their best. Moreover, the high production rate would also improve countries economy and lead to economic development. Economic growth can happen easily as free trade allows people to trade internationally, which means people would have more opportunities to engage in trade rather than solely relies on trade in their domestic area. Lastly, free trade strengthens international relation, making countries cooperate more through common benefit.
Multilingualism in the Hong Kong banking & financial sector Introduction The following literature review aims to provide a review of the scientific literature on multilingualism in the Hong Kong financial sector since the handover of Hong Kong from British rule to Chinese rule on 1 July 1997. In other words, this literature review attempts to answer the questions: How multilingual is the workplace in the Hong Kong financial sector since July 1997 and which languages (English, Standard Written Chinese, Cantonese, Putonghua) are employed for which task on the work floor in this sector? To answer these questions, it might be useful to introduce the notion of multilingualism and to present the ‘bi-literacy and trilingual policy’ which accounts
LITERATURE REVIEW 1. Gevit Duca points out in his paper “THE RELATIONSHIP BETWEEN THE STOCK MARKET AND THE ECONOMY: EXPERIENCE FROM INTERNATIONAL FINANCIAL MARKETS” that stock prices and GDP in developed market economies shows that these two variables tend to move in the same direction over time. He focused on long-term trends and the evidence he presented is garnered from five of the top ten stock markets of the world in terms of market capitalization. 2. Annika Alexius and Daniel Spång in their paper “Stock prices and GDP in the long run” have tried to show that stock prices are dependent on output (domestic and foreign) in the G7 countries, which according to them is a more viable relationship than that between consumption and dividends.