For this assignment, you will

(1) Find a chart showing the economic growth of an economy in long run.

(2) Briefly discuss the history of economic growth of that economy.

(3) Finally talk about the factors driving economic growth.

Please find below the sample assignment.

Hong Kong GDP per capita (1961 - 2018)

In general, we observed the rising trend of GDP per capita of Hong Kong from 1961 to 2018. Modern history of economic growth of Hong Kong can be broadly divided into 3 phases.

1940s to early 1990s - Rapid industrialization

industrialization accelerated after 1945 with the inflow of money from Mainland China. Immigrants from Mainland China developed textile industry of Hong Kong. Hong Kong’s industry was founded in the textile sector in the 1950s and gradually diversified to clothing, electronics, plastics and other labor-intensive production mainly for exports.

Textile sector was the prominent industry of Hong Kong in 1950s

Early 1990s to early 2000s – Surge in service sector and reintegration into Mainland China

Manufacturing moved out of Hong Kong during the 1980s and 1990s, there was a surge in the service sector. Hong Kong’s economy transformed from manufacturing to services. Furthermore, Hong Kong’s integration with the mainland accelerated and Hong Kong became the main provider of commercial and financial services. From 1978 to 1997, trades between Hong Kong and the PRC grew at an average rate of 28% per annum.

Handover of Hong Kong from UK to China in 1997. This highlights the integration of the economy of Hong Kong with Mainland China.

Early 2000s to 2010s - Deepened reliance on China

Over the recent 20 years, Hong Kong economy has transformed from enhanced integration with China to deepened reliance on China. The four key industries, including financial services, tourism, trading and logistics heavily depend on the businesses with Mainland China. Hong Kong can maintain its economic growth during the global financial crisis primarily due to the help from Mainland China.

Is the economy of Hong Kong nowadays too reliant on the help from Mainland China?

Key factors driving economic growth:

Institutions: Low taxes, lax employment laws, absence of government debt, and free trade are all pillars of the Hong Kong experience of economic development.

Education: The government also pursued an ambitious public education program. By 1966, 99.8% of school-age children were attending primary school, and free universal primary school was provided after 1971. Secondary school provision was expanded in the 1970s, and from 1978 the government offered compulsory free education for all children up to the age of 15.

Summarize the following articles: ( Don't need to be too long)

1) What kind of a power Is China? Especially under Xi, the so-called perpetual president after the constitutional change on March 11, this question becomes particularly important — even more so given China’s substantial rises in military expenditure over recent years, and the announcement last year at the 19th Party Congress that China now regards itself as offering a different kind of model of diplomatic and political behavior for others to follow. Everywhere we see signs of intent from China. It would be like burying our heads in the sand to ignore the country’s hunger for a more central role in global affairs and not to prepare a response.

Part of what is happening now derives naturally enough from the trajectory of any rising power – or a power that after years of investment and work is feeling like its time has come. It would be odd if China, as the world’s second largest economy, were not speaking in the ambitious ways it has adopted recently. History does not record many self-effacing super-economies. It certainly has no experience of powers who just sit on their hands and do nothing when granted massive opportunity because of the poor decisions of others.

A second characteristic of the current situation derives from confusion of the outside world. The political turmoil of the Trump administration in the United States; events in Europe like the almost impossibly perverse electoral outcome in Italy in early March where no one ended up winning; the festival of self-harm that is proving to be Brexit in the U.K.; a Middle East in perpetual turmoil; a Russia seemingly existentially predisposed to undertake mean, hoodlum acts like the attempted assassination of a former spy in the United Kingdom under the cloak of being a functioning major nation. Against this background, China looks like the final house on the hill, at least able to function with an outward appearance of coherence and purpose — unlike everywhere else.

2) China has outlined its plans to become the world’s biggest superpower within the next 30 years. President Xi Jinping opened the five-yearly National Congress and set out his plan for the country to become a “global leader” by 2050. Speaking in the Great Hall of the People for 3-and-a-half-hours, the President laid out his vision for the Communist ruling party. He said it was time for China to become “a mighty force” that would lead the world on political, economic, military and environmental issues. “This is a new historic juncture in China’s development,” he added. “The Chinese nation…has stood up, grown rich, and become strong – and it now embraces the brilliant prospects of rejuvenation. It will be an era that sees China moving closer to centre stage and making greater contributions to mankind.” Mr Xi said China was "a great nation", adding: it has been through hardships and adversity but remains indomitable. "The Chinese people are a great people; they are industrious and brave, and they never pause in pursuit of progress." Mr Xi became the chairman of the Communist party and therefore the leader of the nation in 2012. Since Donald Trump has taken office, Mr Xi has sought to portray himself as a statesman and demonstrate that China is a responsible global power.

Thanks.

You were hired by a private local airline company. The company is planning to initiate a few new routes in the south of the United States. As the project manager you have been tasked with conducting a feasibility study, and to make a recommendation to the CEO about whether or not to undertake this project. You commissioned a market research firm to study the demand for your new offering. The market study cost $750,000 and was very promising. You were also in negotiations with local airports about landing fees and terminal access. As a condition for these negotiations the airports demanded a payment of $2,500,000 that can be applied towards your airport and landing fees if the negotiations are successful.

In order to initiate the new services you would need to acquire two additional airplanes for $40,000,000 each. The expected life of the planes is 20 years, and their salvage value is about $5,000,000. Your analysis for the project includes the following estimates:

Sales in the first three years will be $44 million, $67 million and $91 million. Sales are expected to grow at a rate of 3.5% thereafter. The direct costs of operating the aircraft are estimated at 65% of sales, and the landing and airport fees are 5% of sales. The general administrative costs for the company as a whole currently are about $70 million and based on prior experience grow at a rate of 3% a year. The project will require an additional $15 million in administrative costs for the first year. The new lines constitute about 15% of the current business, and the company plans to allocate the administrative costs on a prorated basis.

The new lines would require about $1,000,000 in cash initially, and the amount would grow to $1,500,000 at the end of the year. The cash required would remain at the same fraction of sales thereafter. The project would also require an initial investment in fuel and other supplies of about $3,000,000 that will grow at a 3% rate. Accounts receivable and accounts payable are initially $1 million each but are typically 7% and 8% of sales respectively.

Assume a marginal tax rate of 34% for all tax calculations.

Given that your company is private, you look at competitors to calculate the discount rate. You decide that the main competitors are Delta Airlines, United Airlines, and Southwest Airlines. You believe that your equity cost of capital is equivalent to the average of the three airlines. Your company bonds with a coupon of 6% and 8 years to maturity are trading at $104.83. Your company has a debt-to-assets ratio of 0.25, and you plan on maintaining this leverage ratio for the foreseeable future. You can use the average return on the S&P 500 index over the past 20 years as the expected market return and the current T-bill rate as the risk free rate (Note that rates are reported monthly not annually).

You only plan to operate for 10 years and you estimate that the planes will only be worth $10 million each at that point. But you estimate that you can sell the rights of operating these lines at that time for $15 million, and you expect to liquidate all other assets at book value. What is your recommendation regarding the project? Show all intermediate steps.

Flatbread goes round the world Gruma S.A.B. de C.V is located near Monterrey, Mexico, and produces corn flour and other flour products, which it processes into tortillas and related snacks for markets worldwide. Its brand names include Maseca, Mission, and Guerrero. Its customers include supermarkets, mass merchandisers, smaller independent stores, restaurant chains, food service distributors and schools. The company began operations in 1949. In the early 1970s, Gruma launched its product on the Central American markets, specifically in Costa Rica. In 1976 it expanded to the United States and in 1987 it began expanding its operations across the globe, opening plants in Honduras, El Salvador, Guatemala and Venezuela. It now has plants in Europe and most recently China. The Asian market presents a very exciting development for Gruma. The company established their presence on continental China in the first instance and then gradually expanded their penetration of markets across Asia to the Middle East. It has already established distributorships in Japan, Korea, Singapore, Hong Kong, Thailand, the Philippines, Taiwan and India. How has a Mexican company with a niche food product like corn flour succeeded so well in international markets? According to Martinez and Haddock, the answer lies in the fact that many of the markets they have focused on are emerging markets which tend to follow the same path of development. These emerging markets exhibit a natural life cycle – a predictable pattern of consumer demand that is evident in steel, wheat, consumer products, and every other major economic sector. What Gruma are following in their international expansion is the tried and tested method of leveraging the similarities across from market to market and growing their company accordingly. The root of the success of Gruma has been their ability to observe the life cycle of emerging markets around the world and expertly time their entry into these markets. However, the other key factor has been their ability to adapt their products to local market tastes. Their key competitive advantage in international markets is based not on their product but the ability to roll any kind of flour, from corn to wheat to rice, into saleable flatbread. Most people from India do not eat corn tortillas, but they do eat a flatbread called naan, made from wheat, which Gruma sells in the United Kingdom and plans to sell in India. The Chinese don’t eat many corn tortillas, but they buy wraps made by Gruma for Peking duck. Gruma also follow a policy of deploying a senior ‘beachhead’ team to enter the new market in which they are building a presence. In China, the beachhead team had skills honed through many years of experience in Latin America and was already primed to develop the necessary market insights to feed into their marketing campaign. Thus, observed trends in China such as a decrease in home cooking among dual-career professionals, increasing penetration of fast food chains, an increase in cold storage in supermarkets and rapid improvements in the logistics and distribution channels were all utilized in thinking through the Gruma market-building strategy in China.

In connection with the given case study, develop a list of environmental factors which can be monitored to help decision makers recognize when it is the optimum time to enter a market.

Which of the following processes are endothermic? Which of the following processes are endothermic? the reaction associated with the ionization energy of potassium. the reaction associated with the heat of formation of CaS. the formation of F2 from its elements in their standard states. the reaction associated with the lattice energy of LiCl. None of the above are endothermic.

A client is to receive 10 milliUnits per minute of oxytocin IV infusion via a pump. If the order states: oxytocin 30 Units mixed in 500 mL Lactated Ringers, at how many milliliters per hour should the infusion run? Inlcude a label with your answer.

Suppose the European Commission is    considering an EU-wide policy mandating that workers be entitled to a one-month vacation every year. To promote a common market, is it necessary that all EU members have the same policies toward annual vacations? Or should this decision be left to the member states?

There has been a substantial increase in recent years of the number of lawsuits over negligence. Do you think many of these truly pass the “Reasonable Person” doctrine or not? Is this a positive direction for the Unites States to be heading? Please provide examples from your own experience and/or current events.

Write the balanced complete ionic equations and net ionic equations for the reactions that occur when each of the following pairs of solution are mixed. (Use the lowest possible coefficients. Include states-of-matter under SATP conditions in your answer.)

A) (NH₄)₃PO₄(aq) and CaCl₂(aq)

Explain the following terms:

Absorption vs Scattering of radiation

Stark Effect

Relationship between nuclear statistics and rotational states

Anharmonicity

Centrifugal distortion

D_?e vs D_?o

P,Q, and R branches; O and S Branches

Stokes vs Antistokes