Abstracts » Business, international

Good news for now

Article Abstract:

The Singapore government is anticipating a domestic economic growth rate of 7% for 1997, and its third quarter figures show a 10.1% year-on-year growth rate. However, the government fears worsening news for 1998. It expects that growth will slow to 5-7% due to external events. Singapore believes that the Southeast Asian financial crisis will affect its financial and manufacturing sectors, and any US slowdown would also have a significant effect on demand for Singapore exports. Changing consumer preferences may also affect Singapore's electronic industry which is a high export earner.

Gross Domestic Product, Singapore, Economic indicators

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Rezoning permit

Article Abstract:

The Hong Kong government has since Feb 1998 announced three large economic stimulus packages for 1998 worth a total of $7.2 billion. More than half of this will go to the small group of wealthy businessmen who control the property sector. Some observers believe that the government's economic policy may be assisting property developers at the expense of wider economic revival. The developers themselves reject the allegation that their political influence has increased during the current economic crisis.

Economic policy, Hong Kong

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