N0bu said:
it all boils down to the g-man and how they run their country. look at hong kong, they do not produce anything and is required to buy everything and yet they are doing great. economically they are on the rise after being hit extremely hard in 97.
trade deficit is one thing... our own ppl squandering and leeching off other citizens is another.
Hongkong depend their econ in 3 major area:
1) Financial sector- Money cannot flow in and out china freely, thats why many foreign company will have their financial head quarter in HK as a monetary transfer terminal for businesses in China. Also the capital from China are also doing their financial activities such as capital raising and investment through HK because HK is a well known recognised finance centre in the region.
2) Trading- Hk no longer have manufacturing, but they are the gateway for China trade. Many trading activities from China is conducting in HK(just as what my current company doing). Current trend is..made in China but export in HK...but sooner or later it will move to Shenzhen...
3) tourism- Main tourist for HK is Chinese from mainland, They spend alot when travelling to HK and it has help the tourism and retails business in HK to grow to boom...The opening of Disney in this Coming Sept will push it to the peak...but it will expect to cool down in 2 years time...
Most of the HK econ are depend to China.....not much from their G....but one good thing for HK is they are still very "democratic" at this moment...the Minister will kena tiu if he/she make crappy policies and the citizen can stop the implementation policies via
court(currently an old lady stopped their G to make their public housing private board listed).....also, when they want to implement any important policy, they will actually do survey and consider the result before they go ahead in the parliament....
one thing is HK ppl dare to speak up for their thoughts...so giving their govt kind of pressure to make things transparent.....even their MTR and KCR train malfunction for minutes will also need to report on TV....and then the authority will need to stand up and explain to the public for the malfucntion....i respect them for that....