Greater Bay Area: Macau may have to compromise on its economic autonomy

Date

December 29, 2017

Author

Daniel Beitler

Source

Macau Daily Times

Region


Subject

China, Macau

URL

https://macaudailytimes.com.mo/analysis-greater-bay-area-macau-may-compromise-economic-autonomy.html

A policy advanced by Beijing for both political and economic purposes, the Greater Bay Area envisions a giant metropolis binding together the 11 major settlements of the Pearl River Delta region. With a combined population fast approaching the 70 million mark and a GDP of some USD1.4 trillion last year, this highly urbanized region is set to become the world’s richest bay area by 2030, beating out rivals in Toyko, San Francisco and New York… Achieving the policy’s stated goal of accelerating economic integration will no doubt require the lifting of certain market protections and the curtailing of self-governance, as has been the case in the European Union experience.