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Population, Social Development and Poverty, Urban

Housing policies for the PRC and Hong Kong, China: One nation, two systems

Housing policies for the PRC and Hong Kong, China One nation, two systems
It has been reiterated that the People’s Republic of China (PRC) and Hong Kong, China are under different economic systems. The PRC is basically socialism with more planned economy features, while Hong Kong, China is basically capitalism with more free market features. Read more.

Population

The role of foreign migrant workers in several economic successes in Asia and the Middle East

Foreign Migrant Workers
Seven of the world’s ten richest economies by real gross domestic product (RGDP) per capita are in Asia and the Middle East, and all have sizeable populations of foreign migrant workers (FMWs) that have contributed greatly to growth. The proper handling of FMW involvement in an economy is crucial for continued prosperity. Despite the widespread reliance of many economies on FMWs, much of the related research has focused on the narrower issue of the impact of foreign labor on local employment and the resultant downward pressure on local wages (e.g., Borjas et al. 1996. Goto 1998). In comparison, very little evaluation has been done on the extent of their contribution to economic growth across countries. Read more.

Population

Migration matters: the race to ensure a future supply of workers in Asia

Migration-Matters
While there has been strong promotion of free global trade in goods and services as well as in capital inputs, the case has not been made so forcefully for increasing the international mobility of the other factor of production, labor. A recent article in The Economist, Free Exchange—Border Follies, surveys the latest research on the potential benefits of increasing international labor migration (The Economist 17 November 2012). The estimates are staggering, with possible increases in world output and income ranging from 30% to 100% (amounting to an additional $20 trillion to $70 trillion) depending on the level of migration assumed. These calculations swamp the potential benefits of increasing international trade, which is estimated to be less than 3% of global output. The research shows that the gains come from migration-induced productivity increases in the host country and the additional incomes are more than sufficient to compensate for any adverse effects, for example, if wages for some host country workers fall in the short term. Remittances (worth around $300 billion a year) are also sent to the migrant source countries to compensate those who stay behind. Read more.

Population

Singapore’s population conundrum

Chart-1-Singapore-Live-Births

Singapore’s resident total fertility rate (TFR), or the average number of births a hypothetical woman can expect to have by the end of her childbearing years if she experiences the age-specific rates in a given year, has been well below the replacement level (generally considered to be 2.1) since 1976. Singapore has one of the lowest fertility rates in the world, together with Hong Kong, China; Japan; Republic of Korea; and Taipei,China (United Nations 2009). Our projections (Institute of Policy Studies May 2012) show that if the TFR remains constant at 1.24 births per woman from 2005, Singapore’s citizen and permanent resident population (known collectively as the “resident population”) will decline from 2020. Read more.