ade has
been increasingly oriented toward the West. Lithuania has gained
membership in the World Trade Organization and joined the EU in May
2004. Privatization of the large, state-owned utilities is nearly
complete. Foreign government and business support have helped in the
transition from the old command economy to a market economy.

Luxembourg
This stable, high-income economy - benefiting from its
proximity to France, Belgium, and Germany - features solid growth,
low inflation, and low unemployment. The industrial sector,
initially dominated by steel, has become increasingly diversified to
include chemicals, rubber, and other products. Growth in the
financial sector, which now accounts for about 28% of GDP, has more
than compensated for the decline in steel. Most banks are foreign
owned and have extensive foreign dealings. Agriculture is based on
small family-owned farms. The economy depends on foreign and
cross-border workers for about 60% of its labor force. Although
Luxembourg, like all EU members, suffered from the global economic
slump in the early part of this decade, the country continues to
enjoy an extraordinarily high standard of living - GDP per capita
ranks second in the world, after Qatar. After two years of strong
economic growth in 2006-07, turmoil in the world financial markets
will slow Luxembourg's economy in 2008, but growth will remain above
the European average.

Macau
Macau's economy has enjoyed strong growth in recent years on
the back of its expanding tourism and gaming sectors. Since opening
up its locally-controlled casino industry to foreign competition in
2001, the territory has attracted tens of billions of dollars in
foreign investment that have helped transform it into the world's
largest gaming center. In 2006, Macau's gaming revenue surpassed
that of the Las Vegas strip, and gaming-related taxes accounted for
75% of total government revenue. The expanding casino sector, and
China's decision beginning in 2002 to relax travel restrictions,
have reenergized Macau's tourism industry, which saw total visitors
grow to 27 million in 2007, up 62% in three years. Macau's strong
economic growth has put pressure its labor market prompting
businesses to look abroad to meet their staffing needs. The
resulting influx of non-resident workers, who totaled one-fifth of
the workforce in 2006, has fueled tensions among some se