Economic fundamentals in a state of flux

Article Abstract:

Individual Eastern European countries are undertaking the transition from command economies and one party rule to market economies and democracies in their own way. The major question confronting Eastern European governments is whether the economic transformation should be a radical, immediate 'Big Bang' liberalization or a more piecemeal process. The problem with a Big Bang transformation is that its success requires a sophisticated economic infrastructure, something most Eastern European countries lack. Eastern European countries need elements of an economic and social infrastructure, including monetary and fiscal policy, social security, and financial and legal systems, in place before economic reforms such as free markets and privatization are introduced, but that would require time, a luxury many of the governments do not enjoy.

Eastern Europe, Europe, Eastern

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Hong Kong: still a land of opportunity

Article Abstract:

Hong Kong's hand-over to China is not likely to have significant adverse economic effects on the former British colony. The process of transition is expected to proceed smoothly since the needed changes in the Hong Kong economy have long been implemented, particularly the establishment of closer economic interdependence between the the city and mainland China. Political uncertainty continues to be a cause for concern, with the Chinese government likely to interfere in Hong Kong's political and legal systems, but this is foreseen to be only as a short term issue. In the long run, it is highly probable that the Beijing government will stick to the principle of 'one country, two systems' to continue attracting foreign investors and stimulating economic growth in the region.

China, Foreign investments, Economic development, Hong Kong, Chinese foreign relations, Hong Kong foreign relations, Hong Kong-China reunification question

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A slaughtered economy

Article Abstract:

Issues concerning the economic effects of the foot and mouth crisis in the United Kingdom 2000 and 2001 are discussed. Particular attention is given to the financial help obtained by the British agriculture industry from the European budget and to business forecasts for the sector.

United Kingdom, Foot-and-mouth disease, Foot and mouth disease

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