Econ11.8.10 - A. Henry Wan reading Chapter 9, Hong Kong, p....

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A. Henry Wan reading Chapter 9, Hong Kong, p. 271, Questions 1 and 3 1. In the theory of international trade, factor price equalization is a trend among economies sharing the same technology. Both Hong Kong and part of the PRC across the border have produced textiles for export. Explain why it is that (a) there was no sign of wage convergence before 1978, (b) Hong Kong faced little competitive pressure in the 1980s, and (c) currently an exodus of industry poses a serious threat to Hong Kong employment. (d) Does trade play any role in the transition from b to c? 3. In Taiwan, there has been some opposition to allowing electronics firms to invest in the PRC, but no one has made such an argument for the textile industry. Can you explain these differences in terms of the role of Hong Kong within the mutual interaction of these three economies? B. Henry Wan reading Chapter 10, Singapore, p. 296, Questions 3 and 4 3. If ‘success attracts imitation, and competition from imitators threatens decline,’ how would one plan for the future development of Singapore in the face of the industrialization of Malaysia, Thailand, the PRC, etc.? Consider the interaction between the United States, Japan and Korea in the last dozen years and then comment on the validity of the quoted statement. 4. Compare the implementation of industrial policy between Korea and Singapore (one using directed credit, the other via Central Providence Fund stipulations). Discuss.
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This note was uploaded on 04/06/2011 for the course ECON 343 taught by Professor Miyao during the Fall '08 term at USC.

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Econ11.8.10 - A. Henry Wan reading Chapter 9, Hong Kong, p....

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