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Macau economy and politics is a byproduct of the interface between the Macau society,
the south Asian region and the larger global economy and politics. Macau has enjoyed
a favorable position and served as a flourishing trading port for the Portuguese
during and after the era of colonialism. The consequent migrations to Macau and
its long separation from the mainland communist China created a free society of
diverse races conditioning the growth of an independent economy and politics in
Macau.
A careful scrutiny of economy and politics in Macau reveals how the economy
in Macau has been watchfully built on time-honored potency of transshipment
center for trade and shipping. The economy in Macau has now been diversified
into banking and financial services and tourism industry. The essential features
of economy in Macau are - export oriented economy with greater governmental
role, reliance on international trade, sale of services, least foreign liability,
balance of payments excess etc. The foremost industries in Macau incorporate
the tourism, textile, hospitality, gambling, and shipbuilding and ship refurbishment.
Macau economy and politics is moving rapidly in the era of globalization. The
tiny region continues to swell on its established potency as well as looking
to build up new economic strengths. Stable prices, open business environment,
foreign investment and high per capita income add to the success of economy
in Macau. With the shifting scenario in the world economic stage the politics
in Macau clearly harps on the emerging service sector.
Macau economy and politics is very much influenced by the Chinese main land
and the isles of Taiwan. The region is governed under Article 31 of the Constitution
of the People's Republic of China. Macau has been granted the status of Special
Administrative Region under the policy of "one country, two systems".
Directly administered by the central government from Beijing, the control extends
only in matters of foreign affairs and defense of Macau. The arrangement is
to be continued till 2049 under the transfer deed between China and Lisbon.
The Cabinet headed by the Governor represent the executive wing. The executive
head has vast powers and is a representative from Beijing. The Legislative Council
consisting of 29 members (14 directly elected, 8 appointed representing functional
constituencies and 7 nominated) is the only legislative wing. The legal arrangement
is largely Portuguese. The Court of Final Appeal is the highest court of appeal
in the Macau Special Administrative Region.
Asiarooms provides information on Macau travel. For further information, explore
the relevant links on Asiarooms.
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