Getting rid of the influence of history: A Study of Macau’s Development Orientation and Innovation in Guangdong, HK and Macau

Abstract

With the national positioning of the economic development of Guangdong, Hong Kong and Macau, those have begun to re-orientate themselves. As a member of the Greater bay Area, Macau’s economic development has historical factors and needs to be modernized and restructured into a global economy. After sorting out Macau’s economic history, we finds that gambling industry, as one of the pillars of Macau’s economic industry, existed in the Ming and Qing Dynasties, and it was inseparable from politics and colonization. Since the 1990s, such economic development has been further path-dependent, tourism has become another economic pillar. However, this was not to say that there is no problem with this mode of development. In order to avoid and seize the strategic opportunities of the Greater bay Area, Macau needs to transform its development orientation from three aspects: firstly, needing to play its role as a bridge in the Greater bay Area; secondly, needing to get rid of Macau’s path dependence on the tourism industry and seek new economic growth points; thirdly, needing to expand Macau moderately. Utilization of ocean area. This is not to say that Macau needs to get rid of history overnight, we needs combine the current situation and make use of tradition to innovate economy, as to form a healthy, reasonable, low-risk and high-yield industrial economic model.