Asia and Pacific > Macao Special Administrative Region, People's Republic of China

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Yongzheng Yang
Improving market access in industrial countries and retaining preferences have been Africa's two key objectives in the Doha Round trade negotiations. This paper argues that African negotiators may have overlooked the potential market access gains in developing countries, where trade barriers remain relatively high and demand for African imports has expanded substantially over the past decades. As reductions in most-favored-nation tariffs in industrial countries will inevitably lead to preference erosion, African countries need to ensure that the Doha Round leads to liberalization in all sectors by all World Trade Organization (WTO) members, so that the resulting gains will offset any losses. Such an outcome is more likely if African countries also offer to liberalize their own trade regimes and focus on reciprocal liberalization as a negotiation strategy rather on preferential and differential treatment.
International Monetary Fund
This paper reviews economic developments in Portugal—Macau during 1997–99. It highlights the way in which Macau’s economic development evolved over the years. The paper discusses developments in prices, wages, and employment, and sheds light on how the product and labor markets adjusted to external shocks—in particular to the Asian crisis as well as the increased competition faced by the economy in recent years (1997–99). The paper also reviews the budgetary process and budgetary developments and highlights structural problems that are inherent in the fiscal system.