Hong-Kong et Singapour : deux modèles non exemplaires

In: Revue de l'OFCE, Band 17, Heft 1, S. 97-126

Abstract

The cities of Hong-Kong and Singapore, of british origin and Chinese population, enjoy a standard of living comparable to that of southern Europe. They have both experimented an exceptionally fast growth over the past twenty years within opposite social and political frames : liberalism in Hong- Kong, interventionism in Singapore.
The manufacturing sector, differing in strategy an sectorial structure, is in both cases almost wholly export-oriented. It accounts for only a third of Gdp. Economic activity mainly relies on international trade and services and therefore cannot be imitated by neighbour economies. Recent macro-economic difficulties are worse in Singapore, linked with Asean countries, than in Hong-Kong, linked with OECD countries and mainland China. They do not mean the end of a miracle. Their growth was no miracle, and is likely to pick up in the near future, although at a slower pace.