search query: @indexterm Macao / total: 33
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| Author: | Liang, Huashan |
| Title: | The influence of financial turmoil on Macao's economy (original in Chinese) |
| Journal: | China Market (c)
1998 : 2, p.50-51 |
| Index terms: | FINANCIAL CRISES ECONOMIC GROWTH MACAO |
| Language: | chn |
| Abstract: | Because every effort has been made to preserve the Hong kong's currency value, Macao's currency is not influenced greatly by the south eastern financial crisis. But the financial turmoil has exerted some influence on Macao's economy. It has caused a drop in the business of partial catering trade and retail trading and made the number of visitors from other places reduced by 10% in July and August, 1997. On the other hand, it would help stimulate the resident of Macao to go to southeast Asia for travel. The currency devaluation of south eastern countries is both challenge and chance to the manufacturing industry of Macao and possibly favorable to export of high-tech and high added value products. Because of the increased interest rate for supplying buildings, many real estate companies went out of business one after another. |
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