International Growth and Income

International Growth and Income

Background and Scenario: Consider chapter 17 of your text and how it relates to countries’ economic freedom. Hong Kong and Singapore have consistently ranked as the top two countries in the world in Economic Freedom. You will be discussing the reasons for this in this essay. Outside research will be required beyond your text. Resources: https://www.fraserinstitute.org/studies/economic-freedom https://www.scmp.com/news/hong-kong/economy/article/2131789/hong-kong-trumps-singapore-again-be-worldsfreest-economy Discussion Points:  What is economic freedom?  What are the top two reasons shared by Hong Kong and Singapore as to why they have such a high degree of economic freedom? Explain. State how this compares to other counties.  How has this high degree of economic freedom helped the citizens of Hong Kong and Singapore? Explain.  Consider Hong Kong’s and Singapore’s rule of law, government size, regulatory efficiency, and open markets. Select one of these and discuss how the United States, if adopted similar measures, could result in American businesses and American citizens benefiting from this institutional change.  Note: Where applicable, use quantitative data to support your positions above. Consider using graphs/charts/tables in the Appendix of your essay to illustrate your points, as needed. Requirements: