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While Singapore and Hong Kong maintain their distinct identities, and are poles apart in their appearances, they are similar in several aspects: 1. They have a shared history of colonial pasts; with British rule extending up to hundred years, setting the foundation of their political systems. Both of Singapore and Hong Kong inherited British democracy and somehow integrated it with the society 2. They’re both Asian financial giants with tiger economies and sit comfortably perched at the top of the economic freedom scale. Both two places are labelled with global financial center and enjoys the fastest economic growth among developed regions 3. Though cosmopolitan in outlook and embodying a spirit of east meets west, they’re both ethnically Chinese societies and affected heavily by Chinese cultures 4. Both cities have limited natures resources, life-essential consumptions heavily rely on import, but both cities utilized their geographical advantages serving as prominent harbors and major trading ports. Singapore and Hong Kong started both from labor-intensive industries in 1950s and achieved the capital accumulation. But limited natural resources and scarce supply of labor signified the maturity this development model. As a result, Singapore government pushed corporates to transform towards higher value-added service and began three-year wage correction policy to induce efficient use of labors. Key industries in this period were oil refining, oil exploration equipment
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