Page 15 - Macau_Group Project
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The Las Vegas of the East















           Macau, is being more prosperous after the regress from the
           colonization by the Portugal in 1999. To rejuvenate Macau’s society

           after being a part of China, an organized political, economic and social
           reforms are required. Moreover, Macau became started to be the
           Special Administrative Region and adopt “One country, two systems”

           which is taking the similar political measure with Hong Kong (Wang,
           2011). The most beneficial impact on developing Macau is the

           establishment of “Reform and Opening Up” (Wang, 2011). It provoked
           foreign economic development by having free port with interest to the
           foreign investors (Feng, 1999). Economically, Macau chose to take

           advantages in gambling industry as it was steadily increased from
           1930s and being the main way to earn interest (Wang, 2011). In 1961,

           separation of gambling management right was decided to the most
           three gambling companies so as to ended up the solely gambling

           management right for 40 years (Wang, 2011). Although these policies
           turned Macau’s economic development into an open and diversify

           economy by creating various characteristics business in gambling, it
           was still constructed a single economic structure and way to gain
           income which might not carry a sustainable development in long-term

           period (Liu & Yang, 1999).
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