d and McDonald Islands
The islands have no indigenous
economic activity, but the Australian Government allows limited
fishing in the surrounding waters.
Holy See (Vatican City)
This unique, noncommercial economy is
supported financially by an annual contribution (known as Peter's
Pence) from Roman Catholic dioceses throughout the world; by the
sale of postage stamps, coins, medals, and tourist mementos; by fees
for admission to museums; and by the sale of publications.
Investments and real estate income also account for a sizable
portion of revenue. The incomes and living standards of lay workers
are comparable to those of counterparts who work in the city of Rome.
Honduras
Honduras, the second poorest country in Central America and
one of the poorest countries in the Western Hemisphere, with an
extraordinarily unequal distribution of income and massive
unemployment, is banking on expanded trade under the US-Central
America Free Trade Agreement (CAFTA) and on debt relief under the
Heavily Indebted Poor Countries (HIPC) initiative. Despite
improvements in tax collections, the government's fiscal deficit is
growing due to increases in current expenditures and financial
losses from the state energy and telephone companies. Honduras is
the fastest growing remittance destination in the region with
inflows representing over a quarter of GDP, equivalent to nearly
three-quarters of exports. The economy relies heavily on a narrow
range of exports, notably bananas and coffee, making it vulnerable
to natural disasters and shifts in commodity prices, however,
investments in the maquila and non-traditional export sectors are
slowly diversifying the economy. Growth remains dependent on the
economy of the US, its largest trading partner, and on reduction of
the high crime rate, as a means of attracting and maintaining
investment.
Hong Kong
Hong Kong has a free market economy highly dependent on
international trade. In 2006, the total value of goods and services
trade, including the sizable share of reexports, was equivalent to
400% of GDP. The territory has become increasingly integrated with
mainland China over the past few years through trade, tourism, and
financial links. The mainland has long been Hong Kong's largest
trading partner, accounting for 46% of Hong Kong's total trade by
value in 2006. As a result of China's easing of travel restrictio
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