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Macau's sustainability and diversification.

Chengkun Liu¹, Yongjia Lin²

¹The Institute of Sustainable Development, Macau University of Science and Technology, Macau, China.

Business Economics (Cleveland, Ohio)

|June 13, 2022

Summary

Macau

Area of Science:

Socio-economic development
Sustainability science
Urban competitiveness

Background:

Macau's socio-economic landscape post-Chinese sovereignty.
Analysis of sustainability across economic, social, and environmental dimensions.
High economic volatility linked to industrial structure and external shocks.

Purpose of the Study:

To assess Macau's sustainable development post-sovereignty.
To evaluate economic, social, and environmental sustainability.
To identify drivers for enhanced sustainable city competitiveness.

Main Methods:

Multi-dimensional sustainability analysis (economy, society, environment).
Assessment of economic volatility and industrial structure.
Evaluation of environmental quality and social factors like unemployment.

Keywords:

Diversification Macau Sustainability

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Main Results:

Macau's economy exhibits high growth and volatility.
COVID-19 impacted consumer confidence and unemployment.
Environmental quality improved, but overall sustainable competitiveness declined.
Factor endowment structure reached its limit.

Conclusions:

Macau requires internal industrial diversification and external regional cooperation (e.g., Guangdong-Macau In-Depth Cooperation Zone).
Strategic changes are needed for moderately diversified and sustainable economic development.
Addressing factor endowment limitations is crucial for future competitiveness.