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COMMENTARY on Grammar:
The Definite Article ["the" vs "a" vs nothing]
 

TASK: 

Go through the text, marking any examples where you would add, change or drop the definite article

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A Research proposal for reviewing Hong Kong Economic Outlook

I will study Hong Kong economy by first studying the economic indicators:

  1. Hong Kong’s GDP, which reflects the production of people in HK.
  2. The Employment and unemployment situation, which is directly affected when the economy deteriorates.
  3. The Overall nominal and/or real wages index, which reflects the labour market and economy and what the effects are on living standards; and of course
  4. The Consumer Price Index (CPI) will also be studied, especially CPI(A) which covers the largest population in Hong Kong (meaning not clear).
  5. External trade sectors like imports, exports and re-exports will be studied. Any depreciation or appreciation of the domestic currency will affect the demand and supply of goods in any country.

Apart from these Hong Kong-related economic indicators, some figures from the banking sector should also be examined.
  1. Best lending rate (In normal situations, as Hong Kong dollar is pegged to the US$; whenever the Federal Reserve moves its Federal Fund rate, HK will move its best lending rate.)
  2. HK dollar deposits in the banking sector and probably M3 which includes all Hong Kong dollars in circulation and all kinds of deposits.

Others:
  1. The Hang Seng Index and Ordinary Index and the stock market turnover.
  2. The Hong Kong economy may sometimes be affected by external factors, for instance: the decrease in the savings rate may lead to a capital outflow of Hong Kong dollars, and the depreciation of other countries’ currencies will decrease the competitiveness of Hong Kong’s products. I will take a quick look at Hong Kong’s three largest trading partners: China, Japan and the United States.