Political parties and leaders:
there are no formal political parties, however, there are civic
associations that, for purposes of legislative voting, join together
to form political blocs
Political pressure groups and leaders:
Catholic Church [Domingos LAM, bishop]; Macau Society of Tourism
and Entertainment or STDM [Stanley HO, managing director]; Union for
Democracy Development [Antonio NG Kuok-cheong, leader]
International organization participation:
ESCAP (associate), IHO, IMO (associate), Interpol (sub-bureau), ISO
(correspondent), UNESCO (associate), WCO, WMO, WToO (associate), WTrO
Diplomatic representation in the US:
none (special administrative region of China)
Diplomatic representation from the US:
the US has no offices in Macau; US interests are monitored by the
US Consulate General in Hong Kong
Flag description:
light green with a lotus flower above a stylized bridge and water
in white, beneath an arc of five gold, five-pointed stars: one large
in center of arc and four smaller
Economy Macau
Economy - overview:
Macau's economy four years after reversion to China remains one of
the most open in the world. The territory's net exports of goods and
services account for 39% of GDP with tourism and apparel exports as
the mainstays. Although the territory was hit hard by the 1998 Asian
financial crisis and the global downturn in 2001, its economy grew
an estimated 9.5% in 2002. A rapid rise in the number of mainland
visitors because of China's easing of restrictions on travel drove
the recovery. The budget also returned to surplus in 2002 because of
the surge in visitors from China and a hike in taxes on gambling
profits, which generated about 63% of government revenue. The
liberalization of Macao's gambling monopoly may contribute to GDP
growth, as the three companies awarded gambling licenses have
pledged to invest $2.2 billion - roughly 33% of GDP - in the
territory. Much of Macau's textile industry may move to the mainland
as the Multi-Fiber Agreement is phased out. The territory may have
to rely more on gambling and trade-related services to generate
growth. Growth fell to 4% in 2003, according to early government
forecasts, with the drop in large measure due to concerns over the
Severe Acute Respiratory Syndrome (SARS).
GDP:
purchasing power parity - $8.6 billion (2002 est.)
GDP - real growth rate:
9.5% (2002 est.)