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Ch 2: Hong Kong’s Economy and Industrial Structure
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Learning Objectives
• Analyze the economic transformations of Hong Kong.
• Identify the characteristics of Hong Kong’s economy.
• Describe the development of the manufacturing sector of Hong Kong.
• Analyze various sectors of tertiary production in Hong Kong.
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Entrepot
• A port where goods are received for
distribution.
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Entrepreneur
• A person who starts and operates a
business.
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Trade embargo
• A ban on trading with a country or region.
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Export-oriented
• The majority of the products are sold in overseas markets and the industries produce what the consumers in overseas markets want.
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Primary production
• It comprises agriculture, fisheries, mining
and quarrying.
Secondary production
• It comprises manufacturing, construction and
the supply of electricity, gas and water.
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Tertiary production
• Tertiary production comprises the service sector:– Wholesale, retail and import/export trades,
restaurants and hotels– Transport, storage and communications– Financing, insurance, real estate and business
services– Community, social and personal services, and
ownership of premises
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Import
• Imports include goods brought into a region
for domestic use or for subsequent re-
exportation.
Domestic exports
• They refer to the goods transmitted abroad.
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Re-export
• They refer to goods which have been previously imported into a region which are then transmitted abroad without undergoing any manufacturing process.