Write 4 page essay on the topic Macroeconomics- methods of Economic growth for Singapore and Hong Kong.
The prices of goods offered by the economy have determination in a free price system (McEachern, 2012). The nations should look for the products and services that people are interested and focus on building them. Today, large nations that control the world’s trade depend on market economy since it is where they control and participate in both exports and exports. Singapore and Hong Kong are some of the new nations that have come of age and adopting the market economy to not only increase their competitiveness but also give it an economic advantage. Additionally, taxation laws are another way both Hong Kong and Singapore can use to encourage economic growth. If the economies do not give enough tax, they will not be able to supply the infrastructure and services they need to keep existing businesses or attract new ones.