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A wealthy region, Macau is known as the "Las Vegas of Asia" and rakes in more than US$50 billion in GDP, largely fueled by the tourism, gaming, and service industries. Macau is also known to many investors as a tax haven, although the Chinese government has made efforts to stem capital outflows to the region. Macau is a free port, and trade is vital. The mainland is of major importance as a supplier of food and inexpensive consumer goods, and a 2004 agreement with China that eliminated tariffs on many of Macau's goods helped increase exports to the mainland. |
