Methods Used for Economic Growth In Singapore and Hong Kong - 94045

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Hong and Singapore are those developed Asian countries that are no more agricultural based economies and have evolved into industrial zones. As World bank has always played a pivotal role in providing financial and technical assistance to the developing countries, the financial institution has also played an important role in shaping up the economies of Singapore and Hong Kong by providing financial assistance and support. The main role of World Bank has been to share knowledge, build capacity and establish partnerships in the private and public sectors. However; three main strategies to encourage growth for typical firms in Hong Kong and Singapore have been proposed by the World Bank. These strategies are improving the system of taxation, forming trade alliances, and introducing and strengthening property rights. (The World Bank. (2011)

According to World Bank, Singapore and Hong Kong firms must become part of world’s largest free grou