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  3. Answer questions by referring to the comments on the economy of three different countries/region in the following magazine artic

Answer questions by referring to the comments on the economy of three different countries/region in the following magazine artic

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问题     Answer questions by referring to the comments on the economy of three different countries/region in the following magazine article.
    A=Indonesia
    B=Hong Kong
    C=Canada
    Which country/region…
Indonesia
    The period under review (1994—98) has been one of great contrast for Indonesian. After three decades of continuous growth fostered by political, social and macro-economic stability, the Asian economic crisis of 1997 has sown the seeds of major change in Indonesia’s economic and financial structures, which prompted calls for reform.
    Trade and foreign direct investment have been at the heart of Indonesia’s economic policy. In the face of the recent economic crisis, the Government undertook to accelerate the pace of reforms and to remove many remaining restrictions on domestic and international trade. From 1994 to 1996, real GDP grew on average by 8% annually. Although economic activity started to decelerate in the second half of 1996, the financial crisis of 1997 transformed a soft landing of the Indonesian economic into a serious recession.
    Indonesia’s international trade has also been severely affected by the recession in the country and elsewhere in Asia. Imports, which increased by nearly 27% in 1995, declined by 3% in U.S. dollar value in 1997 before failing by 30% in the first quarter of 1998. Exports a major element that could have stimulated activity in current circumstances, have fallen (in value terms) as a result of the slump in demand elsewhere in Asia.
    The causes of the financial and currency turmoil are multiple and complex. External factors, such as the withdrawal of international investors from Asia in the wake of the Thai, Philippines and Korean Crisis, were compounded by internal developments, particularly growing uncertainty about economic, social and political stability in Indonesia.
Hong Kong
    The period under review (1994—95) was marked by two main events. The first was Hong Kong’s reversion to the People’s Republic of China, on 1 July 1997, and its designation as a Special Administrative Region (SAR) with a high degree of autonomy with regard to economic (and most other) policies under the "one country, two systems" framework established in accordance with the Basic Law. Hong Kong is one of, if not the most liberal among WTO members. There is no indication that Hong Kong’s traditional openness to trade and foreign investment has been affected by reunification, and as such, the present economic regime may be broadly characterized as "business as usual".
    The second main event during the review period was the outbreak of the economic crisis in Thailand in July 1997 and its spread to other countries in and beyond South East Asia. The crisis, and the associated drop in demand throughout the region, has seriously impaired Hong Kong’s economic performance since the third quarter of 1997, causing a dramatic slow-down in economic activity.
    Nor, it would appear, has the Government attempted to influence the long-run structural evolution of Hong Kong’s economy during the period under review. One of the main features of this evolution has been the increasingly closer links with the fast-developing adjacent region of South China.
    In response to domestic calls for the Government to take action in order to alleviate, if not reverse, the recent slow-down in economic growth and the consequent rise in unemployment, in June 1998 the Government introduced a package of relief measures. Apart from the implementation of a few "emergency" measures, the authorities have largely refrained from interfering with the normal functioning of the free-market system.
Canada
    Canada has continued to pursue an outward-oriented strategy that, combined with prudent macroeconomic policies, has been integral to a recent strong growth performance. Over the last two years, Canada has participated in regional and multilateral initiatives that have further liberalized its generally open economy. It has also demonstrated its commitment to a strong multilateral trading system through an active and constructive participation in all aspects of work in the WTO. Domestic initiatives to lower interprovincial trade barriers, and move forward internal deregulation, enhance transparency, and rationalize the import regime have helped Canadian producers to adapt to the challenges, and to take advantage of the opportunities resulting from greater market access both at home and abroad. Economic activity has reflected strong private consumption and investment.
    Developments in the past two years have confirmed trade as a major determinant of Canada’s economic performance. Exports continued to benefit from the United States’ cyclical lead, supported by efficiency gains in the Canadian economy. The U.S. share in Canadian trade has risen further, to some 83% of merchandise exports and 67% of imports. Canada’s aggregate output thus remains exposed to slower growth in the United States.
    The financial crisis in Asia has had so far a limited impact on Canada’s overall economic growth, as only 8% of Canadian exports are destined for that region. Nevertheless, the crisis has been felt distinctively in western Canada and, if protracted, could have significant indirect effects on the economy as a whole.
选项 A、 
B、 
C、 
答案B
解析
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