This represents a time when Hong Kong is slowly pulling its influence away from China. Due to its insulation from China that ran a communist government, Hong Kong was able to flourish as an international financial center under a free market economy. It unified China for the first time after nearly four centuries of north-south division. It was followed by the Tang Dynasty.
Peter Hintereder and Martin Orth — As well, Globalization helped Germany in terms of investment. The Ancient Chinese were famous for their important inventions and technology. It was more advanced than any other culture in the world.
By western standards this is remarkable. The UK, by contrast, has grown at an average rate of 2. However, despite the impressive figures, there are many serious economic problems resulting from economic growth. In particular, the growth rate combined with a population of over 1 billion has caused serious environmental problems. These are a good example of negative externalities of growth.
Confidence of investors and consumers was unable to make significant gains as a result of the Presidential election and global uncertainty. The outcome of the election had a great affect on the US economy and the fiscal and monetary policies that could be put in place. Uncertainty over taxes, regulations, and trade following the election have led to a slowdown of growth.