Question

Choose one of the following social/economic factors and to write a short essay (500 to 800 words) about the relation between the selected factor and Hong Kong economy:

1. Government-business relation

2. Social and human capital

3. Institutions for conflict management and social insurances

4. Labour market flexibility/rigidity

5. Income distribution

6. Demographic structure

In the essay, you should discuss the following aspects of the selected factors:

(a) The importance of the factor for an economy.

(b) The ways to which the factor affects the competitiveness of Hong Kong.

(c) The prediction of the future development, challenges or difficulties Hong Kong economy facing over the relevant issue discussed in (b).

(d) Your proposed solutions/recommendations for the relevant issue.

Answer 1

2 = Social and human capital -

As a developed cosmopolitan city in a fast -changing globally - connected knowledge economy with a rapidly aging population, human resources and human capital development is core to Hong Kong 's social and economic well-being. Among Hong kong's social concern are social equity in catering for the learning needs of citizens with diverse socio-economic, physical, phycho -social and cognitive development needs, the wellbeing of its aging population and the re silence of its people in combating crisis situation such as epidemics and natural disasters. The human capacity to address persistent or novel situation to everyday practices to requires learning that is productive in nature, simultaneously building new knowledge and solving real problem. This kind of learning can not be achieved through individual isolated efforts. It requires cross-sector , multilevel learnig that connects individuals, families, grass-root support groups, care communities, NGOs government services and international agencies, coordinated through self organising networks that critically depend on access to effective communication and feedback channel with formal and informal information network, including secure official database and social media. This kind of learning needs appropriately designed learning environments that integrate learning resources, data network with related social architectures to support dynamic , just in time , fit for purpose and goal -directed learning interactions. Our economic well-being rests increasingly on our ability to faster innovation industries and entrepreneurship. This again requires multilevel , multisector learning at a societal scale to faster both a culture of innovation and entrepreneurship and the development of social networks and communication channels for innovation industries by connecting government initiatives , higher education, professional societies, businesses and venture capitalists . Inter-disciplinary research themes that leverage cutting -edge knowledge on collaborative, self -organising, inter-professional learning, complexity and network science, information systems,data-minning ,learning analytics and transmedia endearing environments are essential. Hong Kong can build a world class system of human resources and human capital underpinned by e-learning. It can bring its global standard research strength in large-scale , international studies of learning and e-learning to bear on addressing current and future economic and social concern.