In addition, the articles point out how important is a government’s participation on Globalization. For instance, as mentioned in the articles, Hong Kong’s government spent billions of dollars to build the Science Park. The billions of dollars’ investment from the government are not a single company could afford it and is willing to pay that huge money to a risk. In addition, Hong Kong’s government has a strong legal system on intellectual property right, so the foreign companies could invest on Hong Kong’s chip design industry without the worry of being copied.

Article Critique and Additional Insight:

Hong Kong was known as the Oriental Pearl. Beginning from 19^th century when Hong Kong still ruled by British, Hong Kong depended on it transit trade industries with China and other countries, remanufacturing industries, and stock market. However, the worlds economic is changing all the time. Nowadays, China is opening its door to foreign country and it is going to join the WTO, foreign companies no longer need Hong Kong to be their transit trade center, and the factories are moving north to mainland because of the lower wages in China. Shortly after Hong Kong came back to China in 1997, the financial crisis hart the economy hardly. Now, Hong Kong government is trying to bring Hong Kong out of the recession, by reconstructing Hong Kong’s to be a high technology industry.

However, it is not an easy task to move Hong Kong to a High technology industry. A few decades before, Hong Kong government did not have enough support on the high technology industry; therefore, foreign companies did not want to invest high technology research and development in Hong Kong. To be able to attract more foreign companies to invest in Hong Kong is not just simply build up the Science Park or buying some advance facilities. Many foreign companies may not want to set up their shop or laboratory in Hong Kong. One of the reasons is that they though the technique was not matured enough. It may be risky to set up a laboratory in Hong Kong. Reputation needs a long time to build up. Not a few weeks or a few months but a few years or few decades.

In addition, Hong Kong is facing a lot of competition around its location. For example, China, Taiwan, Japan, and Korea, they all have a longer experiences and more matured technique on high technology support. Especially, Japan has been working on it for a long time. If Hong Kong wants to compete again its competitors, it should work much harder in order to catch up the time loosed in the past decade.

Although, Hong Kong may started out too late, but the implement of the government were well performed. Science Park was build; in collaborate with the University, more people were well trained; stronger legal system was imposed. However, we can not say Hong Kong is successful or not now. It need time to prove it. If Hong Kong is in a marathon competition, it still in the first few hundred meters and still have a long way to go.

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