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2017 | Buch

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Political Economy of Macao since 1999

The Dilemma of Success

verfasst von: Yufan Hao, Li Sheng, Guanjin Pan

Verlag: Springer Singapore

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft" , Springer Professional "Technik"

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This book takes a comprehensive look at the governance and civil society of Macao, the shadowy mecca of gambling in Asia, and the reforms, changes, and social movements which are challenging that reputation today. Thanks to the rapid expansion of the local casino industry, Macao has experienced spectacular economic growth since it returned to Chinese rule in 1999. Following double-digit rates of economic growth between 2002 and 2013, Macao has become one of the wealthiest regions in Asia, with GDP per capita rising from USD$14,258 in 2001 to USD$89,333 in 2014. However, as the casino industry has overshadowed all other sectors of the local economy, it has not only made Macao’s economy highly vulnerable and difficult to sustain, but has also aroused increasing social discontent. The authors lay out a comprehensive and well-argued discussion of the dilemma of the economic monoculture, and strategies by which to overcome it, in the process producing a book that will be of profound interest to scholars of greater China, students of political economy, and travelers to Macao.

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Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction

Abstract

Macao has experienced spectacular economic growth since it returned to Chinese rule in 1999. Following double-digit rates of economic growth between 2002 and 2013, Macao has become one of the wealthiest regions in Asia, with its GDP per capita rising from USD$ 14,258 in 2001 to USD$ 89,333 in 2014.¹ At the end of 2013, Macao had fiscal reserves of 168.9 billion patacas, an increase of 68.66 billion over the previous year, and foreign reserves of 128.95 billion patacas. Macao’s prosperity over the past decade can be largely attributed to the government’s decision to liberalize the casino industry in 2002 and the Chinese central government’s facilitation of individual travel (FIT) scheme implemented in 2003. The subsequent internationalization of the casino industry has transformed Macao from a small trading economy to one largely based on gaming and tourism. However, it has made the casino industry the sole pillar of the local economy, overshadowing all other economic sectors. The increasing dependence on the casino industry has also made Macao’s economy highly vulnerable and difficult to sustain. Although the government has made efforts to diversify the structure of Macao’s economy, the existing policies appear to be ineffective.

Yufan Hao, Li Sheng, Guanjin Pan

Chapter 2. The “Leap Forward” and the Multiple Roles of the MSAR Government

Abstract

The liberalization of the gaming industry can be seen as a dialectical process that has had knock-on effects in relation to Macao’s broader autonomy. The restructuring of the gaming industry not only transformed Macao’s economy but also prompted the local government to play multiple roles in enhancing economic development. While the gambling and tourism industries have been the main drivers of economic growth since 2001, the economic situation in Macao has also been compromised by the city’s overdependence on the casino sector.

Yufan Hao, Li Sheng, Guanjin Pan

Chapter 3. Theorizing the Dilemma: A Political Economy Approach

Abstract

The general equilibrium model illustrates that the true benefits to Macao of rapid tourism growth may be much lesser than the apparent increase in its nominal GDP after allowing for various types of side effects. It is further shown that theoretically, taxing tourism might be welfare enhancing for Macao in the broader economic, social, environmental and political context. The growth-side effects trade-off model shows that Macao should rationally choose a moderate tourism development strategy instead of a very aggressive one; this is, however, unlikely to occur because of the city’s malfunctioning democratic political system. The model that integrates foreign power into the growth-side effects model further shows that excessive tourism growth driven by foreign power has many explicit and hidden socio-political consequences that destabilize Macao society. Based on the model, the Macao government should keep sustainability in mind when making tourism policies, carefully regulating foreign capital inflow at an optimal level.

Yufan Hao, Li Sheng, Guanjin Pan

Chapter 4. Public Services: Redefining the Government-Society Boundary

Abstract

Macao, like other cities in the region, has been pursuing a program of modernization with an emphasis on economic progress. However, the side effects of this process are apparent and are likely to worsen with Macao’s ongoing casino boom. The rapid development of the tourism and gaming sectors has led to increasing demand for public amenities and other social services. The current lack of sufficient public services can be attributed to the government’s lack of strategic planning for an integrated conservation and management framework, and the absence of enforceable guidelines for regulating social issues.

Yufan Hao, Li Sheng, Guanjin Pan

Chapter 5. Refining the Political Machinery and the Absence of Political Reforms

Abstract

Attempts to localize institutions and personnel before the retreat of the Portuguese were often low profiled and failed to lay a solid foundation for the new order in Macao. Partly due to the slow pace of the localization of the civil service during the 1980s and 1990s, the new administration did not develop the political skills and administrative experience required after the handover. Accordingly, the inexperienced MSAR government needs more time to learn how to govern, and government officials should continue to upgrade their skills.

Yufan Hao, Li Sheng, Guanjin Pan

Chapter 6. Political Culture, Participation and Communication: The Collapse of Consensus Politics and the Local Social Group System

Abstract

In general, the people of Macao have taken a passive approach to political issues, and the government has shown that it is uneasy about the politicization of society. However, along with the arrival of foreign casino investors and the changing socio-economic environment, the merits and shortcomings of the governance model inherited from the Portuguese breakout have been reflected in the new forms of governance that have emerged in Macao since the handover. Despite the separation of powers in the MSAR, and the apparent democratic structure of governance, the government is strongly executive led and power is concentrated in the hands of the core beneficiary groups and their allies, who occupy most of the principal official positions.

Yufan Hao, Li Sheng, Guanjin Pan

Chapter 7. On the Future of Macao: Success Without Dilemma

Abstract

The small geographic and economic scale of Macao is the main factor constraining the city’s political and social development. Moreover, the dynamics of Macao’s urban change are significantly influenced by external forces, particularly the changing cross-border relationship between Macao and the mainland. To escape its current dilemma, the Macao government needs to change the city’s mode of development and launch internal and external reforms that promote structural change and regional integration.

Yufan Hao, Li Sheng, Guanjin Pan

Backmatter

Titel: Political Economy of Macao since 1999
verfasst von: Yufan Hao
Li Sheng
Guanjin Pan
Copyright-Jahr: 2017
Verlag: Springer Singapore
Electronic ISBN: 978-981-10-3138-0
Print ISBN: 978-981-10-3137-3
DOI: https://doi.org/10.1007/978-981-10-3138-0

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