Economics Project TR01 Group 4 by Gan Zi Xiang /TRM https://padlet.com/s10202925/88nof3kv5d7utmt4 Electronic Products en-us 2020-11-18 14:50:13 UTC 2025-10-29 13:18:10 UTC hello@padlet.com https://padlet.net/icons/png/1f99a.png Group Members s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937389197 Chelsea Lee (S10206043)
Claris Lim (S10205616)
Natali Lye (S10205900)
Tharshini (S10203025)
Gan Zi Xiang (S10202925)]]> 2020-11-18 16:07:07 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937389197 Article s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937391019 Electronic Industry rising in Singapore]]> 2020-11-18 16:07:26 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937391019 Article s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937402605 Economic reasons for falling price of electronic products]]> 2020-11-18 16:09:34 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937402605 Video s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937410320 Why is Apple so expensive]]> 2020-11-18 16:10:55 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937410320 Video s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937418325 Expansion of electronic sector in Singapore]]> 2020-11-18 16:12:22 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937418325 Video s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937420955 How the electronic industry is like in Singapore]]> 2020-11-18 16:12:50 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937420955 Video s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937425116 Reasons for the rise of electronic and technology market in China]]> 2020-11-18 16:13:35 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937425116 Article s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937430658 Description of the electronic sector]]> 2020-11-18 16:14:33 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937430658 Podcast s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937441722 Waveform : The MKBHD Podcast]]> 2020-11-18 16:16:30 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937441722 Characteristic of market structure s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937469783
  • Produces electronic equipment and manufactures electrical components for a plethora of products. 
  • Common products produced are: mobile devices, televisions, and computers.
  • There are multiple industries within the electronics market itself, such as telecommunications, electric components, consumer electronics, and more.
  • The most profitable industry in the electronics market is the semiconductor industry, which engages in the design and fabrication of semiconductors.
  • Semiconductors are used in majority of the electronic products ranges from cameras to refrigerators to light bulbs

    • ]]>     2020-11-18 16:20:45 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937469783     Relevant demand factors s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937476469
  • There are an increase in the number of buyers of electronic gadgets in the market in Hong Kong because of the higher income per capita and purchasing power of the population (Number of buyers)
  • Increased popularity of electronic gadgets due to advertising, high rise in internet usage and the new technologies available (Taste and preferences)
  • Changes in income for buyers, people in Hong Kong have increased affluence (Money income)
  • When a new electronic gadget is introduced to the market, people might predict that it will be popular and want to get their hands on it, which increases the demand for the product 

    • Demand factors in Hong Kong : There is an increase in the number of population in Hong Kong from 2017-2019 and this has led to more buyers in the market. It had increased from 7 391.7’000 to 7520.8’000(number of buyers)

    • There is an increase in the electronic industry due to the high demand especially with business establishments as more businesses are using technological gadgets such as computers to help with the management of their business. The percentage of business establishments using the computer has increased from 79.6% to 80.9%.
    • As for individuals due to the trends in Hong Kong, more people are purchasing electronic gadgets one such example is the Smart Tv (large-screen digital TVs with connectivity for internet surfing ), Virtual reality, augmented reality and mixed reality and 5G all. All of the trends have gained popularity due to advertising and these have caused more consumers to purchase more electronic gadgets such as the digital tv, Iphone 12 and many more.( taste and preferences)  
    • The Hong Kong GDP( at current market price ) has increased from 2015 to 2019 from 2398.3 HK billions to 2865.7 HK billions, this has resulted in more people having more income to purchase electronic gadgets. (money income) 
    • When the price of related goods of electronics devices decreases such as more wifi companies leading to cheaper wifi and mobile data, more people would purchase more electronic gadgets as they find it cheaper to afford for it now. (price of related goods) 

    ]]>     2020-11-18 16:21:59 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937476469     Supply factors s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937485334
  • Disruption of the electronics supply chain due to the Covid-19 pandemic.
  • Covid-19 control measures hinders migrant workers from completely returning to work which slows down production of electronic supplies.
  • Chinese firms play a crucial role in the global supply of low- to mid-end electronics parts and components, thus other countries might get affected due to the sudden shortage of supply of electronic production.
  • Due to the outbreak in South Korea, together with countries' reliance on South Korea for the electronic parts and components, its shortage would consequently delay production recovery in Chinese electronics firms.
  • Demand for electronics may decline as consumers in these regions may want to reduce spending on non-necessity items especially during this period of uncertainty.
  • Hong Kong accounts for almost 19% of the world’s export of electronic circuit components.
  • Hong Kong ‘free’ global trading center is at risk due to the removal of the ‘one country two systems’ framework.
  • There might be potential hiccups to business operations due to the uncertainty faced by Hong Kong.
  • To prevent the occurrence of any disruptions from Hong Kong’s electronic supply chain, especially for massive companies, they might consider shifting out of the Hong Kong market.
    • ]]>     2020-11-18 16:23:31 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937485334     Plastic Elasticity of Demand s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937512258
  • Smartphone market is elastic, where there is high responsiveness to changes in prices since it is not a necessity, and there are already a lot of phones out there in the electronic market.
  • Therefore, if prices were to go up, fewer people would buy new phones/upgrade their existing phones.
  • Consumers with inelastic demand, such as those who keep up with the latest technology and are willing to pay higher prices, allow firms to sell their products at a premium price.
  • Once the firms have sold their products to such consumers, they can then lower their prices to sell to a wider audience who are more price sensitive.

    • ]]>     2020-11-18 16:28:09 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/937512258     Feedback I_M_WANG https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/964956582 Hello Team,
    Thanks for sharing with me your prelim analysis of the electronics industry in Hong Kong. 

    I do see relevant demand and supply determinants in explaining the real world situation. In your team, you might want to discuss on the key points to include in report, and focus on researching more to expand these "highlights". I particularly like the portion about the imports of electronic parts and how this is disrupted due to the covid-19 safety restrictions. 

    In terms of price elasticity of demand, I see that the focus is only on smart phones. Hence, would like the team to also reach a consensus in terms of whether the focus is on electronics such as laptops and other tech gadgets or purple smartphones as this is going to affect your identification of Market Structure. 

    Regardless of your choice, its OK. To help with identification of market structure, continue to expand your research on the number of producers in the industry: 
    (1) Number of providers in HK
    (2) Any dominant provider(s) in HK? 
    (3) Strategies to attract consumers to purchase (if applicable) 
    (4) Barriers to entry
    ]]>     2020-11-27 05:10:48 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/964956582     (i) Discuss how the country’s economic situation impact the selected industry or product s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055952823 Generally, Hong Kong’s economic growth has been steadily rising until recent years, due to the protests and Covid-19, it has gone through a recession (-1.2% Economic growth in 2019). Hong Kong relies heavily on its electronic market as its main industry as other industries, Example, Agriculture contributes less to its GDP due to its lack of natural resources. Hong Kong’s electronics industry accounts for 68.3% of total exports in 2019, the largest electronic export earner in Asia. Hong Kong is the world’s largest exporter for electronic integrated circuits, one of the world’s largest exporters for computer/mobile components and video recording apparatus. However, due to the pandemic and political unrest in Hong Kong, Re-Exports and exports to mainland China, has decreased from +10.7% to -2.9%  and +8.0% to -10.0% from 2018 to 2020 respectively. This also resulted in domestic export revenue to grow from -24.0% to +33.2% from 2018 to 2020. Hong Kong’s main export markets are mainland China, EU and ASEAN however, all international exports saw a decline due to the pandemic and political unrest. As Hong Kong is a crucial trading centre for electronic parts and components in Asia‑Pacific, the electronics industry in Hong Kong will continue to grow despite facing these challenges. Revenue Growth from Consumer Electronics showed an increase of 14.0% which accentuates the potential of the growth of the Electronics market in Hong Kong.

    Sources:
    -https://www.focus-economics.com/countries/hong-kong
    -https://research.hktdc.com/en/article/MzExMzM1NDk1
    -https://www.nordeatrade.com/dk/explore-new-market/hong-kong/economical-context
    -
    https://www.statista.com/outlook/251/118/consumer-electronics/hong-kong    ]]>     2021-01-05 15:28:20 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055952823     (ii) Economic significance of the Electronics industry s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055980687 Hong Kong’s electronics industry is the territory’s largest merchandise export earner, accounting for 68.3% of total exports in 2019. According to 2018 statistics – the latest available – in value terms Hong Kong was the world’s largest exporter of electronic integrated circuits; the second largest exporter of computer parts/accessories, telephones/mobile phones and video cameras; and the world’s third largest exporter of video recording apparatus. Hong Kong’s electronics exports rose by 10.7% in 2018. The major export markets were the Chinese mainland, the EU, the ASEAN, and the US. Exports to the Chinese mainland grew by 9.8% on the back of steady input demand of mainland’s outward processing production. Exporting diversifies market opportunities so that even if the domestic economy begins to falter, there are other growing markets for electronic goods.

    Sources:
    -https://research.hktdc.com/en/article/MzExMzM1NDk1
    -https://hkmb.hktdc.com/en/1X00401Z/hktdc-research/Electronics-Industry-in-Hong-Kong
    -https://www.thehartford.com/business-insurance/strategy/expansion-exporting/benefits-export-business]]>     2021-01-05 15:33:48 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055980687     GDP Articles s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055993384 -https://www.hkeconomy.gov.hk/en/situation/development/index.htm
    -https://www.eastasiaforum.org/2020/12/19/covid-19-shock-takes-its-toll-on-hong-kongs-economy/
    -
    https://www.china-briefing.com/news/the-changing-status-of-hong-kong-as-a-global-financial-center-op-ed/

    ]]>     2021-01-05 15:36:10 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055993384     GDP Videos s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055999837 -https://www.cnbc.com/2020/11/26/hong-kong-gdp-economy-and-special-trading-status-with-us-under-biden.html
    -https://youtu.be/orNk9HNGhYI]]>     2021-01-05 15:37:27 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1055999837     Unemployment rate articles s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056013462 -https://tradingeconomics.com/hong-kong/unemployment-rate#:~:text=The%20seasonally%20adjusted%20unemployment%20rate%20in%20Hong%20Kong,by%20around%2013%2C500%20to%20244%2C300%20in%20September-November%202020
    -https://sg.news.yahoo.com/hong-kong-jobless-rate-edges-090951058.html]]>     2021-01-05 15:40:13 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056013462     Unemployment rate video s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056028280 2021-01-05 15:43:09 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056028280 Unemployment rate podcasts s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056030960 -https://podcasts.google.com/feed/aHR0cHM6Ly9wb2RjYXN0LnJ0aGsuaGsvcG9kY2FzdC9yYWRpbzNfbW9uZXlfdGFsay54bWw/episode/aHR0cHM6Ly9hcmNoaXZlLnJ0aGsuaGsvbXAzL3JhZGlvL2FyY2hpdmUvcmFkaW8zL21vbmV5X3RhbGsvbTRhLzIwMjAxMTE4Lm00YQ?sa=X&ved=0CAUQkfYCahgKEwig-9bU4-DtAhUAAAAAHQAAAAAQqkE
    -https://podcasts.google.com/feed/aHR0cHM6Ly9wb2RjYXN0LnJ0aGsuaGsvcG9kY2FzdC9yYWRpbzNfbW9uZXlfdGFsay54bWw/episode/aHR0cHM6Ly9hcmNoaXZlLnJ0aGsuaGsvbXAzL3JhZGlvL2FyY2hpdmUvcmFkaW8zL21vbmV5X3RhbGsvbTRhLzIwMjAwOTE4Lm00YQ?sa=X&ved=0CAIQuIEEahgKEwig-9bU4-DtAhUAAAAAHQAAAAAQhGE]]>     2021-01-05 15:43:40 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056030960     Inflation articles s10202925 https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056040965 -shorturl.at/djzMY
    -https://www.focus-economics.com/country-indicator/hong-kong/inflation
    -https://tradingeconomics.com/hong-kong/inflation-cpi
    ]]>     2021-01-05 15:45:36 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1056040965     Tutor's Comments: joshua_nathan https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1061930869 Thanks for posting the relevant newspaper articles and preliminary macroeconomic analysis. It is important to be focused on the following:
    1. How the current economic climate and the trade tension between China-US will affect the electronic industry in Hong Kong.
    2. How would the post Covid-19 pandemic affect the electronic industry in Hong Kong.

    Do more research on both impacts as mentioned above, analyze, consolidate and start writing the report.

    Cheers!

    Josh Nathan ]]>     2021-01-07 04:42:38 UTC https://padlet.com/s10202925/88nof3kv5d7utmt4/wish/1061930869