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  • #16
    Originally posted by Enzo Ferrari View Post
    It Could Take a Law to Force Hong Kongers to Be Nice to Mainland Chinese - China Real Time Report - WSJ

    Banning of wordings such as "Locust" and "Shina" will not make Hongkongers shut up, Stupid!
    Well, I suppose they can't legislate the stupid out of you, either.

    Comment


    • #17
      Finally, somebody from outside who see Hong Kongers' pain.

      Hong Kong
      ----------------------------------------
      "The source of frustration is the sheer number of mainland visitors, which is expected to reach 45 million this year, and 70 million by 2017. Any city might struggle to accommodate these numbers, never mind a congested territory of 7 million.

      Furthermore, it’s pretty clear the majority of these visitors are not here to see Hong Kong’s undersized Disneyland but are really traders seeking bargains, courtesy of an outdated exchange-rate regime.

      To get a sense of the situation Hong Kong finds itself in, imagine if New York were to have a separate currency and tax regime from the rest of the United States. To replicate the Hong Kong situation, New York would have both significantly lower taxes and a currency pegged at a discount of 25% to the U.S. dollar.

      In these circumstances, you might expect half of America to descend on the Big Apple for a shopping bonanza. New York residents would likely be none-too-pleased if they felt they were subsidizing those bargains to non-tax-paying day-trippers.

      This is effectively what has happened in Hong Kong as it has accelerated the integration of people and infrastructure with its giant neighbor, while retaining a three decades-old currency peg to the greenback.
      ...............
      This situation means every day seems like a fire sale to mainland visitors who can arbitrage the currency divergence. Now, they are not just buying duty-free luxury goods, but also everyday essentials such as toiletries, which are also cheaper.

      The gripe from Hong Kong is that this outsized demand creates shortages, pushes up prices and leads to transport congestion. Among the mainland visitors, about 60% are believed to be same-day visitors, according to Tourism Board estimates."

      Comment


      • #18
        Originally posted by Enzo Ferrari View Post
        Hong Kong
        ----------------------------------------
        "The source of frustration is the sheer number of mainland visitors, which is expected to reach 45 million this year, and 70 million by 2017. Any city might struggle to accommodate these numbers, never mind a congested territory of 7 million.

        Furthermore, it’s pretty clear the majority of these visitors are not here to see Hong Kong’s undersized Disneyland but are really traders seeking bargains, courtesy of an outdated exchange-rate regime.

        To get a sense of the situation Hong Kong finds itself in, imagine if New York were to have a separate currency and tax regime from the rest of the United States. To replicate the Hong Kong situation, New York would have both significantly lower taxes and a currency pegged at a discount of 25% to the U.S. dollar.

        In these circumstances, you might expect half of America to descend on the Big Apple for a shopping bonanza. New York residents would likely be none-too-pleased if they felt they were subsidizing those bargains to non-tax-paying day-trippers.

        This is effectively what has happened in Hong Kong as it has accelerated the integration of people and infrastructure with its giant neighbor, while retaining a three decades-old currency peg to the greenback.
        ...............
        This situation means every day seems like a fire sale to mainland visitors who can arbitrage the currency divergence. Now, they are not just buying duty-free luxury goods, but also everyday essentials such as toiletries, which are also cheaper.

        The gripe from Hong Kong is that this outsized demand creates shortages, pushes up prices and leads to transport congestion. Among the mainland visitors, about 60% are believed to be same-day visitors, according to Tourism Board estimates."
        That's cherrypicking by misleadingly quoting from an article.

        Though I have to congratulate you on conjuring imaginary sympathy from the Internet for your pity party.
        Last edited by Skywatcher; 25 Feb 14,, 15:37.

        Comment


        • #19
          Financial Secretary John Tsang’s 2014/15 budget underwhelms.

          This seems to be the default Hong Kong thread

          Over the past 15 years, the Hong Kong Government’s annual budgets have been met with outrage, applause, protests and accusations. This year, the response has been shrugs and yawns.

          In the past four years, the SAR Government took in $167.4 billion (US$21.5 bn) more than forecast in the 2010/11 budget, and spent $78.9 billion less. As a result, $276.3 billion (about 13% of last year's GDP) was unnecessarily sucked out of the economy in the form of fiscal reserves, money the government doesn’t need and can’t use.

          In the coming year to end-March 2015, spending on Education (-2.4% in real terms), the environment (-6.8%), healthcare (-16.3%) and economic activities (-43.4%) such as commerce, labor, finance and IT will fall while outlays for security (+9%), welfare (+8.7%) and housing (+5.5%) are set to rise.
          Trust me?
          I'm an economist!

          Comment


          • #20
            HKers had been living under civilized governing for like hundred years or so, mainlanders has not. So friction is expected and understandable, it takes time for HKers to adjust themselves.

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            • #21
              Originally posted by drhuy View Post
              HKers had been living under civilized governing for like hundred years or so, mainlanders has not. So friction is expected and understandable, it takes time for HKers to adjust themselves.
              Are you saying that HKers have to get used to boorish behaviour from mainlanders, and after that, all will be well?

              Comment


              • #22
                Remember the concept of the ugly American tourist, full of money, short on class and traveling all around the world on a strong currency? Well, that's pretty much where China is today.

                Since every first time traveler from China comes to Hong Kong (we take their money, speak their language, provide their food and laugh at their jokes), Hong Kong has to provide a civilizing influence. As a part of China, it is a responsibility, but as a capitalist economy it is also a huge opportunity that many others would love to have.

                Hong Kong has a choice between royally screwing up a great opportunity, or remembering how arrogant and full of themselves Hong Kong people were when they visited China in decades past.
                Trust me?
                I'm an economist!

                Comment


                • #23
                  2014 Outlook: Slower than expected Hong Kong’s economy is likely to grow more slowly

                  Hong Kong’s economy is likely to grow more slowly this year than originally thought. Data available as of end-April suggest real GDP growth will rise only 3-4% in 2014, down one point from our earlier forecast 4-5% pace.

                  As always, the main culprit is trade. Imports rose more than twice as fast as exports in the first three months of the year, dragging overall growth to a lower level. Add to that an additional half-percent inflation (4.2% in Q-1), and the prospects are not as rosy as we had hoped for.

                  The EU is struggling to reach 1% real GDP growth year-on-year, and domestic demand – where imports from East Asia are more directly affected – is likely still falling. US imports dropped 4.2% in January-February from the same 2013 period. Japan is the sole bright spot, with imports rising more than 5% in dollar terms in the first quarter.

                  We still have healthy growth in tourism arrivals, which will help retail sales. Arrivals were up 15.3% in the first quarter, with strong, 20.1% growth in the number of visitors from the Mainland of China, and an impressive rise in those coming from Korea, Indonesia, Singapore and the Philippines. This is our counter-cyclical edge, and we need to protect it.

                  ---DOR
                  Trust me?
                  I'm an economist!

                  Comment


                  • #24
                    Slow start to the year

                    Hong Kong’s economy expanded an inflation-adjusted 2.5% year-on-year in the first quarter, down from 2.9% in 2013’s fourth quarter and the slowest pace in nearly two years. Private consumption (+2.1%), capital investment (+3%) and both sides of the trade ledger all slowed.

                    The domestic economy fared slightly better, with combined private and government consumption and capital investment up 2.6%. Trade, 4.5 times the size of domestic transactions, slowed to less than 1.1%. Construction and building was driven by public sector projects, which grew 20.6% in the first three months of the year, as compared to just 3% growth – the first expansion in over a year – among private sector companies. Investment in machinery and equipment similarly owed its mild strength to government spending: the private sector’s demand grew just 0.9%, while Zhou Q. Public took an additional 5.6%.

                    Private consumption was led by non-durable goods (up 6.4% and spending by tourists in our city (+7.9%). But, the 2.1% overall rise was down from 3.2% in the second half of last year and 3.6% in the fourth quarter of 2013.

                    Retail sales were up 4.2% in value terms in the first quarter, and restaurant receipts 3.3%. But, while shops are feeling a bit sluggish, food and beverage outlets experienced a mild boost over the 2% rise in October-December.

                    Prices continue to rise as well, and while the froth may well be off the property market, rent renewals from two or even five years ago will slice into retail profit margins. The broad consumer prices index rose 4.3% in the first four months of the year, as compared to January-April 2013, which is in line with our expectation of as much as 5% inflation this year.

                    Add to that the extremely tight labour market, and companies should expect nothing to face continued cost constraints. At 3.1%, our unemployment rate is at its lowest since March 1998, 16 years ago.

                    Be that as it may, the headline GDP figures will always depend on demand from aborad, and this year trade is failing us. Merchandise exports scraped out a scant, 0.5% rise over a year earlier and services just 3.1%. The latter was chiefly travel related, which expanded 7.9%. On the import side, where increases subtract from overall GDP growth, imported goods were up 1.2% but demand for services fell 0.2%.

                    The year is not turning out as well as we originally expected. Among 20 economists making forecasts for Hong Kong’s annual growth rate, the consensus is for about 3.7%. That’s better than last year, but bear in mind that the number crunchers didn’t know what Q-1 would look like when they posted their predictions.

                    --DOR
                    Attached Files
                    Trust me?
                    I'm an economist!

                    Comment


                    • #25
                      Originally posted by DOR View Post
                      Remember the concept of the ugly American tourist, full of money, short on class and traveling all around the world on a strong currency? Well, that's pretty much where China is today.

                      Since every first time traveler from China comes to Hong Kong (we take their money, speak their language, provide their food and laugh at their jokes), Hong Kong has to provide a civilizing influence. As a part of China, it is a responsibility, but as a capitalist economy it is also a huge opportunity that many others would love to have.

                      Hong Kong has a choice between royally screwing up a great opportunity, or remembering how arrogant and full of themselves Hong Kong people were when they visited China in decades past.
                      Arrogance? Yes, during the 1960s, when China was starved to death, We HongKonger donated food and clothes to them, when China started their so-called "Reformation", we HongKonger supplied capitals, technique, financial know-how, etc. to support their so called" Economic miracle". During the great earthquake disaster in 2008, it was the HongKonger donated the most, never mind, most of the money went to the corruptors.

                      Next time when China, "Megapower" got fucked by any reason, my only response: Cheers!
                      Last edited by Enzo Ferrari; 14 Jun 14,, 19:03.

                      Comment


                      • #26
                        Originally posted by Enzo Ferrari View Post
                        Arrogance? Yes, during the 1960s, when China was starved to death, We HongKonger donated food and clothes to them, when China started their so-called "Reformation", we HongKonger supplied capitals, technique, financial know-how, etc. to support their so called" Economic miracle". During the great earthquake disaster in 2008, it was the HongKonger donated the most, never mind, most of the money went to the corruptors.

                        Next time when China, "Megapower" got fucked by any reason, my only response: Cheers!
                        Yes, because then the world will truly recognize that Hong Kong is white!

                        Wait, they'll always say you're Chinese, no the least because of how badly you speak English. ;)

                        Comment


                        • #27
                          Originally posted by Skywatcher View Post
                          Yes, because then the world will truly recognize that Hong Kong is white!

                          Wait, they'll always say you're Chinese, no the least because of how badly you speak English. ;)
                          ????????????????? ??????? | ???? | ?? | 20140613

                          No, We Hongkongers will be truly recognized that Hong Kong is determined to try our best to got our independence from Chinese dictatorship, just as the Taiwanese say they are not the Chinese, Vietnamese say they are not the Chinese, Japanese say they are not the Asians, Anglo Saxon Americans said they were not the British(in 1776)!!!
                          Last edited by Enzo Ferrari; 15 Jun 14,, 04:39.

                          Comment


                          • #28
                            Originally posted by Enzo Ferrari View Post
                            ????????????????? ??????? | ???? | ?? | 20140613

                            No, We Hongkongers will be truly recognized that Hong Kong is determined to try our best to got our independence from Chinese dictatorship, just as the Taiwanese say they are not the Chinese, Vietnamese say they are not the Chinese, Japanese say they are not the Asians, Anglo Saxon Americans said they were not the British(in 1776)!!!
                            It would be much appreciated if you could actually state whatever it is you're trying...

                            All right, I'm taking pity on you and take you seriously for a moment, despite your inability to formulate any sort of cognitively semi-coherent train of thought.

                            Who is we "Hong Kongers"? You and your two sockpuppet Facebook accounts?

                            The last time I checked, the people of Hong Kong liked having water, food and people to do business with. They're certainly not a illiterate kid hiding behind a keyboard crying about how the Communist-Nazis are hurting his precious feelings.

                            Incidentally, what is this "Japanese say they are not the Asians"? Do you seriously think that the Japanese are Caucasians then?

                            Comment


                            • #29
                              Originally posted by Skywatcher View Post
                              Incidentally, what is this "Japanese say they are not the Asians"? Do you seriously think that the Japanese are Caucasians then?
                              Datsu-A Ron - Wikipedia, the free encyclopedia

                              Comment


                              • #30
                                Originally posted by Enzo Ferrari View Post
                                That's all you have, really? What a waste of time. Really?!

                                One newspaper editorial from a hundred and thirty years ago does not set the cultural outlook of Japan.

                                EDIT: To be fair, it's a lot more meaningful than a website about a nonexistent Hong Konger independence movement.

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