2013年6月30日 星期日

克羅地亞加入歐洲聯盟 機遇與挑戰

2013年7月1日,前南斯拉夫克羅地亞共和國正式加入歐洲聯盟,成為第28會員國.其申請和協商程序前後延宕10年,即使在2011年12月歐盟27會員國與克羅地亞共同簽署加入協議,但經相關所有國家議會批准也花上一年多時間.在申請加入之初,克羅地亞在農業,司法,稅制方面未達歐盟平均標準,而環保層面上更遠遠落後於西歐.

雖然克羅地亞社會已逐漸擺脫獨裁政治和南斯拉夫戰爭的陰霾,惟直到今日,該國仍飽受行政低效,貪污,國企寡佔,高負債等等政經問題困擾.儘管貪瀆情況沒有羅馬尼亞和保加利亞加入歐盟時那麼嚴重.
最近一集由DW-TV製作的Made In Germany報道,克羅地亞南端是歐洲風力最強勁地區之一,有德國投資人在當地建造風力發電場,但行政手續極其繁複,程序冗長,但投資人坦言那裡具備一定條件和發展機會.這事例證明克羅地亞亟需全面制度改革,以提昇營商便利程度.

事實上,克羅地亞擁有綿長阿德里亞海海岸線和多個大大小小島嶼,又與中歐連接,可成為海陸運輸的轉接點.當局可利用地理優勢,設立經濟特區,通過稅務減免引進資金,打破國企寡佔,吸納過剩工人,更可發展海洋產業,提高技術和產能.
克羅地亞加入歐盟意味著當地農,工業者須面臨歐洲共同市場競爭,亦須符合歐盟的環保生產規範.當局必須協助本土產業提高工藝層次,包括技術支援和低息貸款等補助,以及組成合作社,幫助業者面對重大競爭考驗.
此外當局更須進一步整飭貪瀆,厲行法治,對銀行金融業實施嚴格規範,控制債務,讓投資人對該國政經環境具備信心,始可增加稅收,藉此獲得歐盟配對資金開展建設,提高人民生活素質,使該國法制,經濟趨向奧地利,德國等進步國家水準.

外部連結: http://www.newsobserver.com/2013/06/30/2999645/will-eu-entry-boost-or-hamper.html , Will EU entry boost or hamper Croatia tourism? NewsObserver.com, 30 June 2013.
http://www.independent.co.uk/news/world/europe/will-eu-membership-help-croatia-find-closure-8679333.html, Will EU membership help Croatia find closure? The Independent, 28 June 2013.
http://www.telegraph.co.uk/news/worldnews/europe/croatia/10107828/Why-joining-the-EU-is-so-hard-to-swallow-for-Croatias-winemakers.html, Why joining EU is so hard to swallow for Croatia's winemakers, The Telegraph, 8 June 2013.
http://www.reuters.com/article/2013/06/29/us-croatia-eu-idUSBRE95S0FT20130629, Mired in recession, ex-Yugoslav Croatia joins troubled EU, Reuters, 29 June 2013.
http://news.yahoo.com/factbox-balkan-states-hope-croatia-eu-225556915.html, Factbox: Balkan states hope to follow Croatia into EU, 30 June 2013.
http://www.nytimes.com/2013/06/29/opinion/global/croatia-and-the-eu.html?_r=0, Croatia and the EU, The New York Times, 29 June 2013.
http://www.france24.com/en/20130630-croatia-prepares-eu-entry-party, Croatia prepares for EU entry party, France24, 30 June 2013.

2013年6月28日 星期五

聲援貨櫃碼頭工人罷工 天經地義

上星期四,葵涌貨櫃(集裝箱)碼頭爆發工潮,一百多名工人因不滿工資偏低,工時過長,遂圍堵馬路抗議. 工人聲稱,他們須連續工作12至24小時始獲休息,在起卸尖峰時段更須連續工作72小時. 可是,他們的極端辛勞被資本家賤視.和記黃埔旗下香港國際貨櫃碼頭工人指他們原本獲直接聘用, 但後來改為通過外判商聘用,工資亦隨之下降,至今未恢復至15年前工資基準. 更糟的是,香港國際貨櫃碼頭和承辦商往往在意外發生後隱瞞事件,限制採訪並給予'掩口費', 令外界難以得悉意外成因,亦無法讓獨立人士分析和建議,防範日後類似事件發生.

黃色工會分化工人 早在工潮爆發之初,貨櫃碼頭公司和外判商在未有充份通知多數工人下,便與工聯會談論漲工資條件, 然而外判商提出的漲幅僅5%,遠少於工人的要求,而且工聯會誘使工人接受苛刻條件,盡快復工, 意圖破壞工人提出改善工資待遇的堅決訴求.

外判制度是元兇 過去貨櫃碼頭營運商傾向直接僱用工人,但後來由於分工日趨精細,以及試圖控制成本, 因而引進外判制度.可是,此例一開即引發惡性競爭,以及'判上判',結果工資下降,中間剝削日趨嚴重. 據不完整統計,貨櫃碼頭營運商給予外判工人工資總額竟有約三成被中間分判商賺去! 貨櫃碼頭營運商在選擇分判業者時,徹底漠視工人的安全.據了解,判頭在安排工作流程時, 未有充分考量工人安全;直到數年前當局才引進考核制度,確保工人曾接受一定的安全訓練.

禁制罷工實屬霸王硬上弓 高等法院下達裁決,就貨櫃碼頭工人請願行動頒布臨時禁制令,禁止工會領袖參與.此外分判商威脅 工人須在4月2日早上10時答應復工,否則'永不錄用'.上述行動充分體現資本家強行動搖工人爭取 勞動成果的意志,更是利用財力和制度上的漏洞,粗暴打壓工人維護應有權益行動. 但是,眾多工人無懼嚴苛威嚇,堅持正義訴求,我們需發揚愛德精神,必然與工人們站在同一陣線!根據基本法,香港居民享罷工自由,而且按職工會條例,法院不能受理任何針對罷工行動的侵權訴訟, 這樣的裁決實屬對相關法律的藐視和踐踏!

解決之道: 1.終止外判制度:分判商通過從營運商繳付服務費和工資的差額取利,多重分判必定層層剋扣, 工人所得進一步下降.所有貨櫃碼頭工人應由碼頭管理公司統一聘請,驅除中盤業者剝削, 讓工資直接到工人之手.雖然碼頭管理公司或須僱用更多中層管理人員,但以其規模之大, 中層管理人員薪酬總額與外判商剝削比較,只屬一筆小數額.
2.香港數家貨櫃碼頭經營者須自行承擔周邊設施基建費用,有別於世界多數地區,導致營運成本過高, 因而令處理費冠全球.政府有必要承擔碼頭及其周邊設施的建設和維護費用,降低運作成本, 並修訂競爭法規,適度規管利潤,藉此調減處理費,以維持香港國際競爭力,提升整體運輸量.
3.統一認證:勞工處須接管所有貨櫃碼頭工人的職業安全訓練和考核制度,提升安全規範, 避免自我監督,也有利工人在不同機構流轉.
4.提高待遇,吸引新人入行:除了有系統的培訓以外,改善工作條件也是招攬新人的關鍵. 有關部門須監察貨櫃碼頭營運者是否充分執行安全措施,並在營運合約加入相關條款, 確保工人可獲得職業安全訓練和設備. 在僱用新職工的條款中,工時可適度減至每月200小時,但初期可定為每月216小時,但工資率可按比例 調整(每小時$67-70),讓工人作息平衡,提高注意力,減少意外發生機會.

原文發佈於2013年4月1日,10:40pm

Support strike of stevedores

Support stevedores of Hong Kong Container Terminals: Stop outsourcing, rise hourly wages by 30%, give back benefits

Stevedores in Hong Kong International Terminal have suffered in extreme long working hours and poor working conditions for several years. They have often work for 12 to 24 hours continuously, and even 72 hours during peak time. Worst still, they are employed by outsourcing agents, which expropriate wages and welfare of stevedores for profits of agents, while some of the agents are in fact high-ranking management personnel of HIT. Such tricks allow HIT, operator of the Container Terminal, to evade responsibility of compensation, retire fund, etc.

HIT and contractors often conceal industry accident involved in docks by imposing restriction on the press and pay 'concealing fees' so outsiders cannot know the reasons of the accidents. Also, indepedent researchers cannot give any advice and recommendations to prevent further accidents.

The High Court announced a verdict that HIT can impose a temporary injunction against trade union involving in the strike. Such action revealed that right-protection action by labourers are blatantly suppressed by the capitalists, who are basking on financial power and loopholes of legal system. According to Basic Law, residents in Hong Kong have freedom of industrial action. Also under existing laws, lawcourts cannot accept lawsuits against strikes. Such verdict is extreme contempt and violation to related laws!

Our request:

Stop outsourcing to eliminate exploitation by agents,

Rise hourly wages by 30%,

Give back compensation, benefits like retirement funds,

Reduce working hours to 216 per month

Please support stevedores' strike action by signing on: https://www.change.org/en-GB/petitions/li-ka-shing-cheung-kong-holdings-chairman-matthew-cheung-stop-outsourcing-rise-hourly-wages-by-30-give-back-benefits

The original text was distributed on 3 April 2013, 10:12pm.

新界東北大興土木,為誰發展,誰可得益

近日政府低調推出新界東北,含粉嶺,打鼓嶺,古洞地區的開發建議草案,諮詢期至本月底結束.雖然規劃署在過去三年就此事諮詢公眾,但一直缺乏民眾關注和傳媒報道,而且溝通渠道不足,令多數香港居民對此不知情,或一知半解.事實上,這是一個龐大的城市規劃案,不僅關係到大地主和居民間的角力,還牽涉到香港特區居民的住房和產業結構,是一項影響民生的巨型工程.

在此,我們有以下訴求:

香港政府須重新全面諮詢民眾,就新市鎮和土地開發廣攬意見,鼓勵公眾踴躍參與;

撤回'特區中的特區'讓國內居民自由出入計劃;

限制低密度住宅佔總住宅地面積10%;

通過換地和容積率轉移方式,收回60%大地主手上土地,以保留農田,建造工業園和經濟房屋;

管制開發商利潤至毛利20%,預留最少40%樓板面積供香港特區居民以個人名義購房;

提供租稅優惠,鼓勵本地和中外企業在新市鎮,開山或填海區建立高新產業工廠,促進就業.

規劃署就新界東北新發展區規劃及工程研究: http://www.nentnda.gov.hk/

<a href="http://www.gopetition.com/petitions/%E7%B6%AD%E8%AD%B7%E5%9C%9F%E5%9C%B0%E5%85%AC%E7%BE%A9-%E8%B8%A2%E7%88%86%E8%AC%8A%E8%A8%80%E7%99%BC%E5%B1%95.html">新界東北大興土木,為誰發展,誰可得益 Petition | GoPetition</a>

九七後最大規模逼遷,新界東北居民衝場抗議,連結: http://www.inmediahk.net/%E4%B9%9D%E4%B8%83%E5%BE%8C%E6%9C%80%E5%A4%A7%E8%A6%8F%E6%A8%A1%E9%80%BC%E9%81%B7%EF%BC%8C%E6%96%B0%E7%95%8C%E6%9D%B1%E5%8C%97%E5%B1%85%E6%B0%91%E8%A1%9D%E5%A0%B4%E6%8A%97%E8%AD%B0 ,周嘉怡, 香港獨立媒體, 2012年8月18日

原文發佈於2012年8月22日,3:52pm.

(轉載)機器將進一步主宰工廠

根據中央社轉載紐約時報報道,荷蘭飛利浦工廠利用自動機械臂,全天候生產電刮鬍刀,所需工作人員僅及傳統工廠的1/10.

網址鍵接: http://tw.news.yahoo.com/未來工廠-機器人當道-155212459--finance.html

http://dailynews.sina.com/bg/tw/twfinance/cna/20120819/17253688375.html

由此看來,他日的生產程序將會被研發生產機械,設計程式的工程師全面控制,'專家管治'的年代來臨.

然而,工人被機器取代後,必然面臨失業和貧窮,更大比例的生產利潤由資本家瓜分.

一旦大眾失去收入,商品銷路收縮,定必陷入產能過剩,資金斷裂,企業裁員,以至經濟長期蕭條,工業文明終必自我顛覆.

原文發佈於2012年8月20日,8:19pm.

How to achieve democracy of masses?

The spirit of democracy is active participation of public in policy decision making process and other public affairs. Electoral democracy is essential in modern democratic systems, but it still cannot represent the will of the many.

It is because elected governments or councils are not truly representative of national opinion since discrepancies often found in most voting systems, which election results cannot correspond to proportion of votes of each candidate, and thus certain groups or communities, or their agents are excluded from policy making process.

Most of the funds of politicians actually come from powerful capitalists. When we cast our votes to them, we do recognize the legitimacy of the ruling system, which is subject to predatory capitalism, and surrender our power to officials or councilors, who are often subject to the power and interest of capitalists.

There are lots of evidence to prove that electoral system cannot reduce, but expand the economic and social inequality. For example, in the past three decades, several governments reduced taxes of the rich, relaxed the regulations on banks, property sector and capital flow. Many public utilities have become share corporation. That has lead to wild fluctuation in asset prices, escalating public and private debts, unstable employment, wage reduction, increasing disproportion in wealth distribution, bank crises and deposit protection in expense of taxpayers. Another example is various governments set up surveillance systems and anti-terrorism laws under the name of "protection of safety of citizens". The major reason of this is only a FEW major enterprises and politicians being involved in the legislation process. In the other words, the voice of general masses are IGNORED.

Therefore, we should find out other methods to make our ideas or views to be represented and practised. To practise the "real" spirit of democracy, we should actively participate daily issues around us, and to raise the attention of these among our family members, relatives, schoolmates, colleagues, union members and friends. For example, residents of an estate should express their opinions and involve in decision of setting and management of communal facilities because they are familiar to the facilities and daily operations of the estate, rather than officials.

The participatory democracy system can be implemented by steps below: First, we should mention the problems we faced to other members of the community, such as quality of public services, labour rights, like wages and working safety conditions, welfare issues, etc. and persuade relatives or colleagues to concern about these.

Second, we can gather the opinions of an issue that we concerned, and propose recommendations to tackle the problems. We may set up posters or billboards at communal places of housing estate, schools or universities, or on walls outside community centres, councilors' offices, trade union centres or religious gathering places. We should respect comments of the members and find out the pros and cons of ideas by each one. In order to reach consensus, we can analyse and discuss all possible methods and discuss to each other. This can make the members of communities to understand and agree the proposed plan.

Third, we can draft an action plan for the issues that we concerned. We can connect authorities or organizations that are responsible to the scope of the plans. Also, any members who have spare time may join the organizations in order to involve in the planning and implementation process directly. That may make our projects become practical. We can find local councilors to seek support in organizing activities, since they can help us to promote the activities to other residents or groups, and to explain the importance of participation. Those promotion can let more people being involved in implementation process and make the actions powerful.

In Hong Kong SAR, not all of district councilors are elected by voters. Some of them are appointed by the government and the rest are ex-officio members, who are rural committee chairpersons. Moreover, district councils are basically advisory boards and do not have much power to manage amenities. They also cannot decide the town planning, use of funds and provision of public services. The absence of city council also impede co-ordination of social projects involving two or more districts, and reduce the efficiency of handling territory-wide issues.

Because the existing ruling system in Hong Kong SAR is dominated by administrative departments, the district councils should have wider range of functions in management of amenities and regional matters, and all of the councilors should be directly elected, in order to make the councils represent the will of the public. The total district council members should be reduced to 300 in order to smooth the decision-making process. Also, more resources can be allocated to each councilor to improve the services to the communities.

The original text was distributed on 5 July 2012, 10:56pm.

Does Universal Suffrage equate to democracy?

Universal suffrage is a method to represent the opinion of public. Voters can choose (a) representative(s) who has/have similar opinions in public policy or governing under a relatively fair and just procedure. The basis of this is to choose intermediates who collect public opinion and make their voice heard, in order to make measures or policies favourable to the public more likely being implemented.

However, standing for elections can be very costly because massive election campaigns must be held in order to address ideas of candidates and draw attention of voters. Actually, political groups receive most of donations from large, influential enterprises for expenditures of their daily opeations and election campaigns. That means wealthy fews can interfere with the agenda of politicians and orientation of mass media. Elected governments will become an apparatus of the major enterprises to control the society and thus the promises by politicians often render meaningless.

Also, most of the citizens only cast the vote to well-known personalities because they have to make their voting decision under limited information provided by mainstream media. That have effectively barred general public, including "real" independent candidates to participate the decision-making of public affairs and legislation process.

Worst still, most of election systems cannot prevent demagogues to seize the power and manoeuvring the governing structure and legal system to take advantage by themselves, or even implement repressive measures, like "suspending" or depriving the rights of citizens, especially under economic depression.

The original text was distributed on 4 July 2012, 10:07pm.

從開發商及金融業者醜聞反思企業管治

近年,不少企業被揭發以高風險手法經營,或發生爭奪繼承權,甚至捲入法律訴訟,但股權集中於特定集團手上,結果令企業面臨重大沖擊,決策人物不能掌管大局,社會各界對企業管理層失去信任,以至股價暴跌.

這不禁讓人反思現行企業架構和監察制度是否健全.

首先從董事會架構入手,才可以了解企業一旦失去'靈魂人物',決策能力便大大減弱.

在多數普通法地區,單一營運層面董事會是最普遍的決策層面架構,往往只有主席,副主席,執行董事和非執行董事.即使是公開上市的股份有限公司,主要股東常擔任主席和行政總裁.董事成員通常也是主要股東及其親友.這種結構的優點是可讓創辦人及其熟人網絡直接運營企業,提高運作效率和有利企業迅速決策,擴展業務.
但當企業達到相對龐大的規模,牽涉到多項業務,員工和股東人數亦與日俱增.主要股東往往不易監督部門運作,公司,主要股東和大眾股東的利益很可能互相衝突,尤其大眾股東要求企業問責和管理,運作穩定.非執行董事無法有效平衡主要股東和大眾股東的利益,亦未必為公司發展帶來建樹.

為了平衡公司發展,主要股東和零散股東的利益和期望落差,上市企業管理層須接受不具,或極少利害衝突人士監察.
公司為了增加營業額,經常作快速或不必要的擴充,甚至利用高倍借貸等手段,必然削弱財務穩定.更甚者,主要股東或決策者可以運用財技,為自身撈取巨額經濟利益,罔顧企業的持續能力和零散股東財務收入.

兩層董事會架構(two-tier board system)包括執行委員會(executive board)和監察委員會(supervisory board),而監察委員由大眾股東投票產生.不少歐洲聯盟成員,如德國,荷蘭,以至一些亞洲國家,如印尼,都實行這種監察制度.
以德國為例,大型企業(Aktiengesellschaften)監察委員會(Aufsichtsrat)由十名大眾股東選出代表和十名員工代表組成.他們可以委任執行委員會(Vorstand)成員,以及具備通過重大決議的權力.
此制度理論上有助零散股東監督企業領導人的表現和管理手法,並提供法定機制,平衡主要股東勢力.股東監察委員可以瞭解企業內部重大決策過程,也可減少企業不當或冒進經營可能性.

原文發佈於2012年5月31日,4:28pm.

Sufficient financial regulations are important to financial hub

Introduction

A sound financial regulatory system is an important basis of stable and reliable financial market. Precise legislations and strict enforcement system
are essential to control the practices of financial institutions. After the Great Depression, several developed countries have developed series of
laws to regulate disclosure of financial data, potential risk and sales practices of financial institutions.

In the past 20 years, a lot of complexed financial products like derivatives flooded the market and most of the investors cannot understand their underlying risks.

However, Hong Kong Monetary Authority was unawared of those risks and this had led to severe losses among
Lehman Brothers minibonds and Morgan Stanley Octave Bonds investors.
In fact, these products are classified as high risk in USA and sales to retail investors are prohibited.

Problems:

Nowadays, two separated entities, including Securities and Futures Commission and Hong Kong Monetary Authority, are responsible to financial regulations in Hong Kong SAR.

As the complexity of modern financial products and diversification of bank operations, the existing structure often cannot monitor the risks of them effectively.

Worst still, some scopes of regulations by the two organizations are duplicated. That will reduce the efficiency of monitoring securities and financial institutions.
Also, that will provide oppotunities to transfer the responsibility to each other.

In some countries like Canada and UK, integrated financial regulatory agencies are responsible to set operation guidelines, observe and investigate the practices of banks.
The regulatory agencies are required to report to the legislature in order to let the public observe their operations. Thus public interest can be protected.

Loose loan regulations are directly linked to HIGH housing prices

In the past 5 years, prevailing mortgage loan rates have dropped more than reduction of prime rate.
As HKD is at pegging rate to USD, the interest rate of both currencies should be similar.
However, the prevailing 30-year mortgage rate is 2.8% p.a., which the rate is fixed for just 3 years but floated afterwards.
Moreover, many banks provide adjustable-rate mortgage at rate as low as 2.1% p.a., which is significantly lower than 30-year fixed mortgage rate in USA at about 4%,
even if the rate is the lowest in the past 50 years.
Meanwhile, 10-year US Treasury bond yield is 2.36% and 30-year T-bond yield is 3.44%.
Therefore, such low mortgage rates are totally predatory and have contributed to steep rise in property prices!
But Hong Kong Monetary Authority allows scenario similar to Irish and USA property bubble occurs now.
In fact, repayment will increase steeply if Hong Kong Inter-bank Offer Rate or prime rate increases, which is likely to occur 2 to 3 years later.
Moreover, banks often impose some terms to allow them to raise lending rates even HIBOR or prime rate remains unchanged.
Such predatory lending can lead to massive loan default and leading to potential financial crisis.

We demand for...

More information about risks of investment products, like stocks or bonds composition, must be disclosed;
Ban advertisements of risky derivatives, like options or warrants;
Set up laws to forbid the sales of complexed derivatives to retail investors;
Raise lower limit of mortgage rate to 3.5%;
All home mortgage must adopt fixed rate until the USA Federal Reserve raise the base borrowing rate increase to 1.5%;
Ban predatory lending practices and disclose all interest rate details of loans

The original text was distributed on 4 April 2012, 4:11pm.

Call for Great Reset--act NOW!

The Occupy Wall Street movement had been started for half a year and it had gained wide support from the people all over the world.

However, the police forces has cleared out the venues in recent weeks. These operations has made the masses disappointed.

Looking back to Hong Kong SAR, the economy system are dominated by conglomerates, developers and financial institutions.
Financial sectors, property rents and business services take a large proportion of economy.
The low direct tax system in Hong Kong SAR merits to rich people, and flat corporate tax at 16.5% make major enterprises to
accumulate wealth easily, but lead to large burden to small businesses.
Many people are dissatisfied with widespread corporate greed and low income, and they find that they are unable to improve livelihood by any means.

In addition, there are several social uncertainties and risks like confidence crisis of the government, distorted representations

Recently, a lot of exposes revealed that the background of potential Chief Executive candidates arose a lot of queries
among Hong Kong people. We also feared that they will protect the interest of conglomerates, or even adopts repressive
measures, which poses a threat to our civil liberty.

We, like the most of the public, are discontented with economic inequality and civil rights deprivation, thus we need a GREAT RESET!

So, we provide a platform to voice your view, to fight for FAIR society--this is

Occupation Movement 2.0 Hong Kong-call for Great Reset

If you are fed up with such reality, please take action NOW!

We want and long for:

Freedom and liberty

Direct and participatory democracy, including REAL consultation in economic strategy and city planning

Expansion of authority of District Council, like management of municipal facilities

Universal suffrage with low threshold, i.e. nomination by 1.5% of voters for Chief Executive

Total Legislative Council members reduced to 56 in 2016, and 45 in 2020, by scrapping Functional Constituency

Tax reform, including:

increase of marginal tax rate of persons with >$1million annual income;
progressive profit tax, increase tax rate of enterprises with >$60million annual income;
reduce tax rate of small businesses, cultural and technology industries to 10%

Regulation of property market

Increase residential flat supply to 85000 flats and 5 million m2 per year, including 40000 rental public housing flats

Impose rent control based on 2009 rent level

Consolidate Home Ownership Scheme, rent or buy option, re-location of Urban Renewal plans to Economy Housing

Establish regional housing association, to provide economy housing and affordable flats for local residents

Impose Scheme of Control mechanism to limit house prices

Reformation of Mandatory Provident Fund, including:

allowing employees to select operators freely and provide more types of funds;
reducing annual management fee to 0.5% to 1%;
detailed disclosure to risks and investment instruments included;
5% minimum requirement to invest in PHYSICAL GOLD

Banking and finance

Set up postal saving and micro-loans to small businesses and social enterprises

regulate service charges by banks

stop charges to low balance accounts

Reform Hong Kong dollar exchange rate regime, to shift from USD peg to Exchange Rate Trade Weighted Index(1) crawl peg,
than gradually shift to managed float, in order to control price inflation.

Economy and livelihood

Increase minimum wage(2) and set up standard working hours at 2400 hours annually

enforce collective agreement between labour unions and commercial chambers

draft policies to diversify economy and develop high technology manufacturing sector

Set up policies to encourage competition

recognize legal status of parallel import

de-regulation of bus service and oil supply

reclaim land to build de-salination plant, liquefied natural gas terminal and high technology industrial estate at highly discounted rent(3)

Tariff control

Impose Scheme of Control agreement on town gas and railway based on operation income;

Extend monthly passes of railway on zone basis;

Reduce permitted profit level of electricity companies to prevent further increase of tariff;

Require electricity companies to utilize excess profits to invest in renewable energy

Explanation
1. Initial Exchange Rate Trade Weighted Index composition includes 70% USD and 30% of USD prices of major commodities,
including coal, petroleum, natural gas, copper, steel, rice, wheat, etc. The composition of ETWI can be changed to 50% USD,
20% currencies of major trading partners and 30% of USD prices of commodities about 2 years later.
Afterwards, USD component in ETWI can be reduced to 35%.

2. Minimum wage should be increased to HKD8800 per month or HKD42 per hour, and HKD30 for first 600 hours of employment,
no later than 1 October 2012. The minimum wage level should further increase to HKD10000 per month by 2014.

3. The proposed reclamation sites are located south off Lamma Island and south off Cheung Chau, with areas of 2km2 and 6km2 respectively.
The proposed land rent of the industrial estates is HKD8000 per square metre for 30 years.

The original text was distributed on 23 March 2013, 9:06pm.

漫談保育與民生,移山與填海

今天是植樹日,也是反對網絡審查日.但我在此不會談及兩者及其緣由,更與'植樹'的主題相反.

近年來,香港特區政府緊縮土地供應,導致住宅,辦公室供不應求,房價,房租以倍數暴漲,商人和民眾怨聲載道.

然而,過去構想的新市鎮開發進度緩慢,直到現在僅有零星的住宅建案落成.同期公共房屋建成量每年平均不過二萬個,
許多低收入以至中下階層住戶只好居於分租單元,甚至床位寓所.這樣的單元不僅缺乏通風,衛生條件惡劣,更不合消防安全標準.
本年初旺角曾經發生牌檔火災,蔓延至上層分租單元,導致多人傷亡;不少工廠大樓被改建為床位分租,更有租戶因其寓所已被當局宣布為違章建築下令封閉.
上述事件喚醒社會各界對安全居住環境和廉租房屋短缺的重視.

有見及此,運輸及房屋局計劃在未來五年興建七萬個公共房屋單位,惟仍然遠低於需求量,當局解釋是由於建地不足和收地困難.

香港特區土地面積約1040平方公里,但山多而平地稀少,郊野公園佔436.56平方公里,還有不少郊區土地空置多年未被利用,市區和市鎮僅佔其中五分之一,可見仍有不少土地供日後發展.
綜觀市鎮邊緣和郊區土地未被利用的主要原因,是由於土地用途和容積率規劃欠妥,以及租稅法令未能鼓勵大地主,包括主要開發商善用土地和管制囤積土地.

畢竟,增建公共房屋,經濟房屋,工業區和高新產業園須利用官地開發.現有可供開發的平原中,相當部份的土地使用權落在私人手中,而收地過程曠日持久,這導致開發受阻,不利民生.
另一方面,以填海造地提供房屋必然破壞海洋生態環境,更堵塞航道,危害航行安全.香港以港都景色聞名於世,港灣狹窄更使其名不副實,降低旅遊收益.
根據推算,香港每年新建租用公共房屋需求量達25000個,替補重建單元達18000個以上,若平均單元面積為50平方米,那麼每年新公共住宅區佔地達30公頃.

開山闢石乃社會的當務之急

當你往來香港各城鎮之間,必然看見沿途群山連綿,也有不少空曠地區.我在小學時代曾到大帽山參與植樹活動,感到心曠神怡,亦藉此意識到植樹護林的重要.
雖然這些地區草木扶疏,昆蟲,兩棲類動物星羅棋佈,但是香港地狹人稠,以及民眾對居住素質的重視,保護地表,林木已經成為奢侈.

相對於世界上的主要都會區,如東京,倫敦,紐約市,香港土地利用率實在偏低.香港農地總面積68平方公里,惟近年民間普遍關注改造農地對原有景觀的破壞,紛紛發起請願,要求保留農田.
為了增建公眾可負擔住宅應付人口增長,開山建造新市鎮無可厚非.
因此當局有必要制定一套長期規劃以及明確時間表,並須充分諮詢民眾意見,
俾使用地規劃能夠考慮小民居住素質,如較大單位面積和休憩空間,就業需要和可持續環境,如建築物綠化,雨水,污水和廢料回收系統.
這樣盡可能地補償因開發山坡地引起的水土破壞.

除了開山以外,香港不少農地和魚塘由大地主控制,或遭開發商圈佔,部份並已經被平整.但是當局制定的容積率只有1.5倍或以下,發展價值不大.
其中一個解決之道是政府收回五分之三地面積,以具農業或生態價值區域為主;十分之一面積保持原來容積率;
餘下十分之三地段作高密度發展,容積率提升至4.5倍.倘若開發商將過往建案剩餘容積率轉移,以及遵守一定條款如加強綠化或限制利潤回報率,更可提升至5.7倍.

填海造地是否完全不可取?

在沿海地區,填海造地往往是獲得新建地的便捷方法,省卻拆遷所需的龐大經費和冗長程序.世界上不少重大建設,包括香港國際機場,關西機場,都是在填土地上修築而成.
東京灣填海造地面積更達249平方公里,提供巨大的工業和居住用地.

最近土木工程拓展署提出25處可能選址填海造地,其中長洲以南和南丫島人工島方案共可提供約10平方公里用地.
由於油尖旺,中區,以至白石角填海計劃等前科,這樣的方案飽受大眾和環保團體質疑,指可能成為不動產項目,建設高價住宅和遊艇碼頭,民眾無法享用.

事實上,香港民眾急切需要海水化淡廠,液化天然氣接收站,高科技工業區和船塢等設施,而上述建設須利用大幅沿岸地段,毋庸置疑的是,在海面上填築是最可取方案.
填造一平方公里土地成本約二十餘億港元,連同相關道路和公共設施的成本約四十億元.縱使基地面積只有百分50,每平方公尺成本約8000元左右,
而每平方公尺拆遷成本往往動輒一萬圓以上.
政府在填海造地前應當充分,廣泛向大眾闡明填土的確切用途,對環境的影響和補救措施,並廣納都市規劃界人士,環境關注團體以至於民間訴求,釋除各界疑慮.

原文發佈於2012年3月12日,10:57pm.

Call for bus deregulation in Hong Kong

Existing public bus system in Hong Kong SAR is franchise system. Most of the bus services are provided by five franchised bus companies, supplemented by residential bus services by some smaller operators.

The public and pressure groups have criticized this system for several years because it has led to monopolize services in most of the area, inefficient bus services and high fare in some routes.
Moreover, those franchise operators are partially owned by large conglomerates or developers, which were often criticized as profiteers.

Bus routes arrangements by franchise bus operators can be very inflexible because of the strong regulation by Transport Department and opposition of route changes by district councils.
Thus the bus network cannot satisfy the actual demand of passengers and development of highway network.

For example, there was no regular bus services running from Sham Shui Po or Yau Tsim Mong districts to Sha Tin or Tai Po districts even three years after opening of Sha Tin Height and Eagle Nest Tunnels of Route 8.

Furthermore, the expansion of rapid transit and railway company merger, which causing reduction of transfer fares, led to dwindling bus patronage.
Rising oil prices in the past decade and inefficient bus routes have also made bus operation less profitable.

In order to promote the service efficiency and provide routes according to actual passenger demand, partial de-franchising of bus services in HKSAR can be a viable option.

The implementation plan is to allow non-franchise bus operators like coach companies to apply for passenger bus licences under route basis.
They can directly submit applications to Transport Department 3 weeks before the start of service. If operators find the routes unprofitable, they may notify the Transport Department and notify 3 weeks before cancellation.
Those licenced non-franchise bus operators can put no more than 250 buses into such services.

In order to prevent too many buses to enter the downtown, which lead to traffic jam, some limitation of routes should be imposed on those non-franchised routes:
all services within the boundaries of Sai Kung, Ma On Shan, Tai Po(including the Chinese University), Northern, Yuen Long, Tuen Mun districts are firstly deregulated;
on second stage, all services within the limits of areas above and Kwun Tong, Wong Tai Sin, Sha Tin, Tsuen Wan, Kwai Tsing and Island districts are deregulated;
for routes entering downtown,
from Kwai Tsing, Tsuen Wan, Tuen Mun, Yuen Long districts and Lantau Island, the limit of route in downtown is Yen Chow Street;
for routes heading to Olympic Station or Park Avenue, they must pass along Yen Chow Street, Sham Mong Road, Hoi Fai Road to reach terminus.
for routes heading to Kowloon Station, they must pass along as the road sections above and then Ferry Street or Hoi Wan Road, Jordan Road to reach terminus.

from Sha Tin, Tai Po and Northern districts, the limit in downtown is Waterloo Road or Whampoa Garden/Hung Hom Ferry Concourse;
for routes heading to Kowloon Station, they must pass along Ferry Street or Hoi Wan Road, Jordan Road to reach terminus.
for routes passing Route 8 to reach Sham Shui Po district, they must pass along Yen Chow Street, Sham Mong Road, Hoi Fai Road to reach terminus in Olympic or Kowloon Station.

from Sai Kung or Junk Bay, the limit in downtown is Kowloon City Pier or Kai Tak area.

references
bus deregulation in Great Britain: http://www.libertarian.co.uk/lapubs/econn/econn078.pdf
bus deregulation in Republic of Ireland: http://www.compecon.ie/Bus%20Paper.htm

(The original text was distributed on 20 September 2011, 4:30pm)

Calling for better wages and standard working period

Minimum Wage Ordinance in Hong Kong SAR will take effect on 1 May 2011, and that will become the landmark of protecting workers from exploitation by their employers.
In addition, that will become the start of intergrating labour laws in Hong Kong to most of the regions in the world.
The idea of minimum wage can be traced back to 1894 in New Zealand, in order to reduce the women or Asian population enter the labour market.
Authorities in Victoria, Australia established wages board, which set basic wages for 6 occupations that were considered paying low wages in 1896 in response to frequent, bitter strikes.
However, sweat shops were still a serious social problem in industrialized countries until about 1930.
By 1817 Robert Owen had formulated the goal of the eight-hour day and coined the slogan 'Eight hours labour, Eight hours recreation, Eight hours rest'.
In Great Britain, Trade Boards Act 1909 provided for creations of boards to set minimum wage criteria.
Winston Churchill MP argued that allowing residents receiving less than a living wage in return for their utmost exertions is a national evil, regardless of classes.
In order to protect service sector workers, who are most vulnerable to low wages, authorities in GB implemented National Minimum Wage Act 1998 to improve labour protection.
In 1936, Franklin Delano Roosevelt implemented New Deal to improve economy in USA and suggested the idea of federal minimum wage.
The congress in USA passed the Fair Labor Standard Act and nationwide minimum wage was introduced on 1 January 1939, which was at USD0.25 per hour.
In the next 29 years, this level had been increased for several times, and reached USD1.6 per hour in 1968.
But the minimum wage steadily declined since then when price inflation is taken into account.
In recent years, fewer employers provide health plans to minimum wage earners.

Many critics claimed that minimum wage distorted the supply and demand of workers and it is fundamentally against free market economy.
In addition, the requirement on experience, qualifications, labour strength of various sectors can differ greatly. Danger of the job can also be a factor of wages.
Workers may require a 'risk premium' for dangerous position, such as construction labourers, armed guards.
Some positions, like brokers receive income largely based on transaction amount, not a certain level.
That makes minimum wage implementation more troublesome.
Therefore, collective agreement between commercial chambers and trade unions can largely resolve such disputes and set up a wage level truly reflect a fair market level.
Furthermore, collective agreement is conducive to workers fighting for better working conditions and prevent long working hours.

MINIMUM WAGES, By David Neumark and William L. Wascher, 377 pages; MIT Press, 2008
Hansard HC vol 155, col 1888 (24 April 1906)
Colliver, Victoria (August 29, 2010). "Health plans dwindle in U.S. Number of firms offering insurance drops as costs rise". San Francisco Chronicle. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/09/15/BUG8OENLE61.DTL.

For the issues in working hours, standard working period is usually 40 hours per week in USA. If employees work for more than the period, employers have to pay 1.5 times to the hourly rate.
Standard working period in Europe is usually between 35 to 40 hours, and the laws usually restricts the workweek that must not exceed 48 hours.
This can ensure workers to have enough period to rest and prevent themselves suffer from poor health due to excessive labour.
However, the Minimum Wage Ordinance in Hong Kong SAR does not mention standard working period.
Employees still have to suffer from long working hours, especially among nursing assistants, cleaners and security guards.

Giannis Kouzis, Lefteris Kretsos, Annualised hours in Europe, European Industrial Relations Observatory on-line, 23 October 2003
http://www.eurofound.europa.eu/eiro/2003/08/study/TN0308101S.htm

I am very dissatisfied that the minimum wage level is set on just HKD28 (USD3.59) per hour, which is just slightly high than that in Taiwan and Turkey, which have GDP significantly lower per capita!
Such wage cannot even provide a wage of bare subsistance level of two people!
It is estimated that the minimum wage level should be at least HKD8500 per month, or HKD42 per hour to sustain a family of two.
When compared with the income level to OECD members, this level is very low even under purchasing power parity basis!
I recommend that the minimum wage should be HKD42 per hour, and a lower rate, such as HKD30 per hour for under-experienced employees.
Maximum working hours should be set at 2400 hours annually.

(The original text was distributed on 25 April 2011, 10:58pm)

2013年6月15日 星期六

World stock exchange merger and the new order of global equity market

In the past five years, there are several stock exchange mergers involving major stock markets in the world. Recently, Frankfurt's Deutsche Borse and New York Stock Exchange are in advanced talk on possible merger.
Citigroup analyst Donald Fandetti stated that the combined entity would be the largest global exchange since more than 90% of futures and derivatives in Europe are traded in those exchanges. They may also serve as a platform for international ventures.
Also, London Stock Exchange and Toronto Stock Exchange also announced that they will merge.
Such trans-atlantic stock exchange merger actions facilitate more investors to trade more types of stocks within their trading hours.
They can also trade stocks of more foreign companies in their home countries in order to avoid taxations and procedures of international stock tradings.
Why there are lots of such mergers take place?
As the advancement of computer trading and popularity of the Internet, more and more investors tend to trade their equities across borders
and the volume of trade processing has increased by tenfold, or even hundredfold.
In the trend of capital globalization, co-operation and merger among financial institutions are inevitable. These actions help better utilization of capital, resources and improve the efficiency of trading. A lot of stock markets plan to co-operate, share market information with each other, or even accept more foreign companies to trade their equities in order to promote their competitiveness.
Many financiers believe that international stock exchange mergers can improve the competitiveness of financial sectors of the host countries and facilitate to prompt reactions by the market due to longer trading hours.
According to William Blair’s Lane and Leikhim, mergers of exchanges help to eliminate major administration expenses,
and there should also be important strategic benefits through clearing synergies. This possible merger can combine two major interest futures exchanges in Europe.
For Hong Kong Stock Exchange, there are still no clear plan to merge or acquisite other stock exchanges. However, its existing aim of focusing on China market already failed to comply the existing trend of financial globalization because the two trans-atlantic mergers have posed a threat to Hong Kong Stock Exchange since this will reduce the incentive of foreign natural resource companies to list on Hong Kong Exchange.
Moreover, a lot of large enterprises in Asia Pacific region have already listed on New York Stock Exchange. When those companies list on Hong kong Exchange, that can attract more international capital to invest in Hong Kong SAR and greatly increase the trade volume.
Hong Kong Stock Exchange should seek more co-operations to exchanges in greater China and south-east Asia so that the exchange can become the regional financial hub.
Moreover, Hong Kong has the advantage on time zone. If Hong Kong Exchange introduce electronic trading, the trading time can be extended to at least 8 hours. This can extend the trading period of the proposed merged market to at least 100 hours per week. Investors in Asia Pacific region can trade stocks of most of the international enterprises during bank operation hours. The transaction amount of Hong Kong Exchange is expected to be doubled as the economic growth in China and south-east Asia.

The original text was distributed on 9:37pm, 13 February 2011.

Call for more land supply and regulating property market

近年來香港特區政府大幅削減土地供應,新建成樓宇大減,引起住宅,辦公樓等供不應求,房價瘋狂上漲.
二十大開發商建成樓宇佔新供應樓房面積超過九十百分點,有論者認為地產霸權已十分明顯.
按照傳統經濟理論,限制土地供應必然導致地價極端上漲,而香港房價已超越民眾和商人的負擔能力.
過去五年,香港每年土地供應僅有約二十萬平方公尺,少於1985至1997年間依據中英聯合聲明限定的五十萬平方公尺.
恆隆地產主席陳啟宗直指香港政府限制土地供應是絕對錯誤.
為增加住房供應和促進房地產市場競爭,我們建議:
以地皮面積計,將每年土地供應恢復到五十萬平方公尺,高密度住宅區佔二十五萬平方公尺,限價出售房屋佔五萬平方公尺,商業區佔五萬至十萬平方公尺.
在市區重建方面,重建後樓宇容積率可提高到拆卸前樓宇的2.5倍,有利於樓換樓,舖換舖推行,惟限於自用物業,建商仍然得到不低的利潤.
上述樓換樓,舖換舖措施相信能加快收購程序,降低佔用流動資金,有助中小型建商參與.
將大部份地皮分拆至約二千至一萬平方公尺拍賣,使每年土地供應增至一百多幅.
政府應盡快開發新市鎮,促進增加土地供應.並限定最少10百分點土地面積列為限價出售房.
政府每年土地權出讓所得須控制於本地生產總值的2%至3%,以調節地價至民眾可負擔水平.
凡涉及轉換土地用途的建案,俱徵收統一土地增值稅,稅率為總售價與地價和建築費用連利息差額的60%至70%.
建設乙類公共房屋,供現行公共房屋收入上限1至1.4倍住戶申請,房租約為甲類的1.6至2倍.每年興建甲類(現行)和乙類公共房屋各20000個.

原文發佈於2011年1月31日,11:01pm.

In recent years Hong Kong SAR Government greatly reduced land supply and fewer buildings completed.
The supply of resident flats and offices does not meet the demand and causes uncontrollable increase in property prices.
20 biggest developers invested in more than 90% of newly completed building area and critics claim that there is blatant property tyranny.
According to traditional economic theory, limitation on land supply leads to extreme increase in land prices.
While the property prices in Hong Kong have already become unaffordable by general public and merchants.
In the past 5 years, land supply in Hong Kong was about 200000 square metres, which was lesser than the limit of 500000 square metres, according to Sino-British Joint Declaration.
Chan Kai-chung, chairman of Hang Lung Properties, claimed that the decision of land supply limitation by Hong Kong Government is totally wrong.
In order to increase housing supply and promote competition in property market, we propose that:
Increase total annual land supply to 500000 square metres, which consists of 250000 square metres for high density residential blocks,
50000 square metres for limited price housing projects, 50000 to 100000 square metres for business districts.
Land volume in re-development project can increase to 2.5 times of land volume in buildings before demolition.
This will be conducive for original flat owning residents to exchange new flats from developers while developers can still be highly profitable in construction projects.
It can also reduce the time for acquisition and capital required, thus small to medium construction companys can involve in those projects.
Most of the land lots should be splited into area of 2000 to 10000 square metres and thus more than 100 land lots can be auctioned every year.
The government should develop more new towns and at least 10% of the total area is reserved for building limited price flat.
Government annual land auction income should be controlled to about 2% to 3% of GDP. In addition, unified land value added tax should be levied for projects involving changes in land use.
The tax rate is [total price of flats being sold- (land purchase price+ construction costs+ interest)]*(60% to 70%).
Build B type public housing estate for households at income level of 1 to 1.4 times of income limit of existing public housing estate applications,
while the proposed rent is about 1.6 to 2 times of existing flats.
Construct type A and type B public housing flats, each of 20000 per year.

The original text was distributed on 11:01pm, 31 January 2011.

Problems and Potential risks of third runway of Hong Kong International Airport

The Hong Kong Airport Authority will start the consultation on building the third runway of the airport very soon.
Because there is not much space in existing airport region, reclamation is required for building the additional runway.
Some arguments claimed that the existing air traffic in Hong Kong SAR increases and that will reach the maximum airport runway traffic capacity within a few years.
If the additional runway is not built, that will hinder the growth of air traffic and harmful to the economy.
However, there are some safety concerns about the expansion of the airport.
First, there is not too much space in the sea adjacent to the airport and the runway can only be built at the north of existing runways.
The width of Urmston Road will further reduce to about 4km. That will increase the speed of water flow and shorten the distance between ships.
The Hong Kong International Airport and Hong Kong-Zhuhai-Macao Bridge projects have already led to reclamation of 10 square kilometres of sea adjacent to north Lantau Island.
Building the runway will cause further pollution of sea water.
But the most important concern is flight safety. Nowadays, there are 40 to 50 flights take off from the airport per hour in peak time and the distance between aeroplanes are often closer than 600m.
If the third runway opens, more and more flights will land on and depart from the airport. The planes will further close to each other and that will greatly increase the potential risk of collision.
In addition, Tai Lam Hill just locates on 9km north-east off from the proposed third runway and high-rising residential buildings in Sham Tseng, 11km north-east from airport, pose a danger for planes.
Since the planes fly at 400m to 600m above the sea level in those areas, they are likely to collide on the hills and buildings and lead to massive deaths.
In order to cope with the growing air traffic, Hong Kong Airport Authority should provide incentives for airlines to arrange planes with larger capacity to fly routes to and from Hong Kong.
The authorities should impose a flat rate for all the planes landing on the airport and reduce the rate for large planes, such as B747-8 and A380.
That will reduce a lot of air space occupied because a 50-seat aeroplane occupies the same air space of a 400-seat aeroplane!
Location of Hong Kong International Airport and adjacent area: http://toolserver.org/~geohack/geohack.php?pagename=Urmston_Road&params=22_20_34_N_113_56_50_E_type:waterbody

The original text was distributed on 8:50pm, 22 January 2011.

Common domains, Copyright and Portrait right of deceased personalities

After viewing of the episode of 60 Minutes broadcasted on 20th January, 2011, I think that the practice of taking advantage from deceased personalities is rather unfavorable.
Becoming the agent of deceased personalities and using their works or images in order to get profit is disrespectful to the deceased and highly parasitic because those agents take too much copyright fee and exploited the rights of the heirs.
In addition, copyright and portrait rights may last for several decades. That will let the descendants and agents gain a lot of wealth just by basking on reflected glory of famous deceased people and the social wealth will be more concentrated on those agents and celebrity families.
The costs of using the works of those personalities increase greatly for a long time and hinder the usage of our common culture heritage and art works, especially for the general public.
Therefore, the authorities should consider to strictly enforce the limitation on period of the copyrights and portrait rights of the deceased.
All the copyrights and portrait rights must be terminated 50 years after the decease of the authors or the person of the image. That means copyright and portrait rights can be passed on one generation only.
After that, the images of personalities and our culture wealth can enter the common domain, instead of being monopolized by certain families or foundations.
Such limitation can help the easy access of information and knowledge in order to improve the human culture.

The original text was distributed on 11:13pm, 21 January 2011.

人口遷入須予以制約

中港兩地政府近日制定協議,自四月一日起允許香港特區永久居民的十五周歲或以上內地子女來港定居,估計數萬人受惠.
但是,社會各界普遍憂慮此決定會導致更多新來者爭奪社會資源,包括教育,就業,住房方面.
本人其中一項憂慮是其連鎖反應.當上述已婚子女獲得香港特區居留權,也許會提出申請,讓其配偶子女來港定居.
而未婚子女來港後一旦再與非本地居民結婚,生兒,也會以家庭團聚為理由來港定居,可能帶來十多萬額外人口.
事實上,不少提出家庭團聚申請者為低技術的貧民,勢將佔用稀少的公共資源和服務,基層居民失業人數增加,令民怨日深.
過去二十年來,香港特區面對近一百萬名來自中國其他地區以至第三世界的低技術勞動力及其親屬,令低技術職位供不應求,
亦明顯推低工資水平,還增加每年數十億港元社保開銷!
因此,我們建議當局將單程證名額減至每日五十名,並撤回上述協議.
從嚴審批低學歷,低技術,長者來港申請,以及設立外國人來港名額上限.
香港特區政府應轉向鼓勵高技術人才定居,協助高技術及文化產業發展.同時簡化技術,資歷評審和手續.
教育,文化和科技機構也須向外多加招攬各地優秀人才,以提升文化,科技產業比率,培訓本地技術人員.

原文發佈於2011年1月16日,10:22pm.

可持續經濟法是香港的當務之急

2006年,中國工商銀行在上海和香港上市,其中在香港集資一千三百億元,更成為全球最大市值的公眾持股銀行.
2010年10月,友邦保險(American International Assurance)在香港公開招股,集資1590.78億元,創下集資最高紀錄.
2010年首十個月,香港新股集資額達3459.4億元,創下近年來新高.
香港交易所股票總市值突破二十萬七千億元,直逼2007年瘋狂漲勢時的最高紀錄.
在2006年,香港業已成為全球最大的股票衍生工具市場,股民不顧一切加入投機,實與國際銀行家對賭,不少散戶因而傾家蕩產.
過去一年新房地產項目紅火,按可用面積計每平方公尺售價往往超過十萬元.
北區一批洋房冒充為瑞士式房屋,每間面積不足二百平方公尺,卻售三千萬元以上,令人震駭,壓縮市郊空間.
近期經濟學者揭發部份開發項目政府收取補地價甚低,開發商利潤達五十至六十百分點.
自1999年起,香港特區商品貿易逆差呈擴張趨勢,1999年貿易逆差為437.18億元,2006年為1387.77億元,2010年首三季香港特區商品貿易逆差達2458.4億元,超過歷年來全年總額,形勢嚴峻.
屯門回收園使用率頗低,相當部份首期租戶退租.
看見上方的經濟狀況概述,你們會有甚麼感受?也許,不少民眾對於上方的描述不以為然,認為只要自己能賺錢便感覺良好.
但是,資產泡沫,投機狂潮,匯率波動已經對社會民生產生負面影響,民怨沖天,要求政府增加房屋供應,資助,改善經濟之聲四起.
再者,社會上一直有聲音敦促政府,工商界發展高新科技工業和文化產業,但長期被排除於主流媒體之外.
香港特區各階層收入差距甚鉅,經過稅負和社會保障轉移後收入最高五分之一人口所得為收入最低五分之一人口的十三倍,
遠較台灣,南韓,日本,澳大利亞等地為大!
過去十年,社會上的有識之士,明白到現時以房地產和金融主導的經濟不可長期持續,以及多次時代挫折,提出一些創新思維,解決當下困境.工人階級飽受壓榨,以及資訊發達,也令民間維權意識抬頭.可持續經濟概念亦逐漸獲得社會注視.
為何需要可持續經濟?
在人類文明發展進程中,農業是文明的源泉.可是農耕產值低,亦不能滿足人類需求.製造業遂成為附加價值基礎,
工業生產的進步是社會發展的必要因素,服務業隨之大幅擴張.但當社會趨向投機,以個人貪念為本,土地,股票,債券等等價格暴漲,更產生金融衍生工具,加劇市場波動,與實際經濟脫節,財富注定向少數人,甚至財閥集中.
殷鑑不遠,1990年起日本資產泡沫爆破,股市,房市暴跌逾十年,高房價導致的後遺症至今尚在,東京等大都會區二十年來實質經濟無甚增長.2008年經濟危機,愛爾蘭共和國,西班牙建築和房地產事業過度擴張,政府,企業,民間因為投機,結果被債務壓垮.
由此可見,產業結構均衡是經濟穩定的基石.
另一方面,地球資源已經被人類活動嚴重消耗,當資源消耗殆盡,生態災難,永久大蕭條必然到臨.
我們需要作出甚麼行動?
敦促政府制定協助文化產業,創新科技和回收再造工業,藉此達到人盡其才,還可以有效分配生產資料.
訂立可持續經濟法,協助第二產業重新發展,並向高增值產業,包含生化,醫藥,可再生能源導向;
重設租務管制,限制房租上漲,嚴格規範金融事業發展.
制定高度累進所得稅,統一土地增值稅,一定額度以上的股息課稅,縮減收入差距,額外稅收用作研發,科技產業稅務抵扣,以及增加社會保障,減少後顧之憂.
密切監察企業行為,加強輿論監督,將不公義,攫取過鉅利潤行為公開;人民也須自覺,堅決抵制不負社會責任企業並加以譴責.
必要時應加入工會,社會壓力團體,爭取個人,社會應有利益,'團結就是力量',喚醒公眾關注及支援.
鑑於亞太地區自由貿易區大增,香港特區政府須積極與更多地區制定自由貿易區,特別是東南亞,印度次大陸等鄰近新興市場,吸引當地企業利用香港金融平台和商業服務.

原文發佈於2010年11月15日,10:35pm.

柏林圍牆倒下二十年,對中國,韓國有何啟示?

兩天後,柏林圍牆已被柏林居民推翻二十年,對德國,以至世界人民而言,是一個重要日子.但是,中國,韓國仍然受分治,甚至分裂之苦.
海峽兩岸,由於政經制度歧異,不相往來數十年.國內,港澳和臺灣人民亦經歷不同生活和思維模式,彼此間存在省籍偏見.雖然內地改革開放帶來互相交流機會,但是國內(注:在近代史上,由1928年起),與臺灣兩蔣年代的威權管治造成民間不可磨滅的傷痕.
在香港特區,香港主體性領導社會,專業人士和民間存在自保心態,對經濟融合存在保留態度,類似德國統一的撤銷關稅和邊界管制之議尚屬非主流(雖然本人主張十年內中港仿照申根公約方式,人貨自由往還),更恐懼貪瀆威權,深層思想上卻與臺灣人民接近(約兩月前其中一輯左右紅藍綠亦有此說).
至於朝鮮半島,陽光政策搖擺不定,北朝鮮經改遲緩,動輒核武威脅,禍害東亞以至世界人民.南北民生南轅北轍,假使統一必引起史無前例的管治危機.
 
原文發佈於2009年11月7日,10:49pm.

演藝人和嫩模書展宣傳與社會文化素養


每年一度的香港書展本來是閱讀愛好者的好去處,除了可以讓讀者得知形形色色的書籍,特別是新書或冷門書籍,也是作者,出版者,發行人和大眾交流的平台.可惜的是,近年來不少演藝人和出版商都趁機宣傳其所謂著作,而出版商轄下攤位員工各施各法,喧囂叫賣,四周簇擁著大批歌迷,影迷,以至’趁墟’的市民.更甚者,在今年書展中,一群被稱為’嫩模’(或’靚模’)的表演女郎或推廣模特兒將會發佈其圖片集,並搔首弄姿,徹底破壞書展原來的文化氣息,淪為充滿庸俗表演的推銷場所,以及變相的追星活動,與一般商場的演藝人的宣傳活動無異.

在此,我們不禁要質問這個社會:為何一年一度的書展仍然無法成為香港特區這文化荒漠的綠洲?為什麼書展淪入出版商之手後,竟轉作令人厭惡的’名人著作’(常有請槍之嫌)大賣場?為何每年有逾七十萬人進入書展,但大部分人依然無法走出與演藝人見面,購買低檔書,圖片集的怪圈內?

歸根究底是香港特區民眾忽略人文素養,以及審美觀的匱乏.雖然香港居民普遍工作繁忙,但他們即使有一點餘暇,也傾向觀賞商人制作的電影,電視劇,收聽流行音樂.可是,稍有一點品位的人只要看過一兩部影劇,都知道那般影劇僅屬公式化產品,部分著重官能刺激,欠缺文化內涵.更可悲的是,近年流行音樂創作素質低落,歌詞言之無物,演唱者五音不全,難引起聽眾長期共鳴,成為’用完即棄’的產品.

事實上,在百忙中閱讀文化藝術書籍,收聽古典音樂,不失是暫時放開工作煩惱的理想方法.在繁忙的工作中尋找心靈慰藉,陶冶性情本是人生的一點調節,可是人們在強大的商業宣傳下,往往不願意追尋被視為高格調的文藝作品.

另外,香港特區的教育過度重視實學,速效,輕視文化教育.縱使多數中小學設閱讀獎勵計劃,文化推廣活動,但也未能吸引大量學生參與.因此,教育當局須加大力度於文化藝術科目的擴展,提高學生對文藝作品的鑑賞力,減少過度操練和接受文藝課外活動作升學的參考指標,才能提升社會人士對閱讀文化的關注

原文發佈於2009年7月18日,6:25pm.

Promotions in Book Fair and cultural quality in Hong Kong

The Hong Kong Book Fair, which is held in every July, is a good place for regular readers to know a wide range of books, especially new or unpopular books. It is also a place for exchanging ideas or views of authors, publishers, distributors and readers. Alas, many performers and publishers have taken the advantage to promote their so-called works in the book fair. The salespeople of publishers yell in order to promote the works. Fans or even residents sticking with the herd gather round stalls. Worst still, some showgirls and promotional models distribute photo collections with their appearances. They have even planned to pose sultry actions. After protests by a Facebook group, Trade Development Council, the organizer of book fair, divided a hall for performers to meet their fans. The actions of those performers totally disrupt the cultural atmosphere and transform the venue into a plebeian promotion place and performer following activity by devoted fans, as found in general shopping centres.

We have to question the society: Why the annual book fair still cannot become oasis of Hong Kong SAR, where people called it as ‘culture desert’? Why the fair is degraded to a selling place of disgusting ‘celebrity works’ (which are often ghost- written)? Why most of 700 thousand odd attendants still cannot get out of activities like seeing performers, buying low quality books and albums?

The ultimate reason of the norm is the lack of cultural quality and aesthetic standard among quality. Although Hong Kong people are often very busy, they often prefer popular music, television dramas and movies produced by merchants, rather than aesthetic works and fine arts. In fact, any person with some critical ideas often finds those dramas or movies usually have a few similar styles, or merely for sensual excitement. Sadly, most of the pop songs in recent years are rather meaningless and singers have no sense in rhythm. Those songs cannot impress audiences and people abandon them very quickly.

Reading some great literature and listening to classical music are effective methods to reduce annoyance derived from working or everyday life. Nourishment of our bored souls is necessary to urban people. However, the public often forget fine arts under the great influence of commercial propaganda.

Hong Kong government and people often stress on actual skills in education and defy arts and literature. Even a lot of reading or cultural promotional programmes are held in schools, not many students enter the programmes actively. Therefore, the educational authorities in Hong Kong must fully promote the appreciation of literature works, reduce unnecessarily training and adopt students having high ability in literature activities in order to improve public awareness on reading ‘regular books’.

The Chinese original text was distributed on 6:25pm, 18 July 2009; English translation was distributed on 5:42pm, 24 July 2009.

Digital audio broadcast in Hong Kong and issue of bandwidth allocation

Digital radio and allocation of bandwidth

Digital audio broadcast is a technology that applies computers to ‘compress’ sound waves into digital signals, which occupy smaller volume of bands and transmit in the air with high fidelity and longer distance because the signals can be re-arranged in the decoders in radio receptors.
Because of smaller band volume being occupied under digital audio broadcast, 100 bands can be placed within a range of band while the band can accompany 10 to 50 bands under analogue radio broadcast. In addition, analogue broadcast is constrained by the landscape because hills or high buildings can block the transmission of radio signals and the power is often smaller. Thus a radio band can only cover smaller areas and some different bands are applied by one channel, especially in hilly regions like Hong Kong, Taipei and Auckland, New Zealand.
For example, FM bandwidth ranges from 88MHz to 108MHz and intervals between bands are 0.4 MHz. But due to diffraction by hills and destructive interference, more bands is occupied by the same channel (in Hong Kong, 7 bands are allocated by the same channel). Meanwhile, there are 10 to 40 AM bands available in Hong Kong SAR and it needs 2 to 3 bands for a channel to cover the whole region. However, the reception quality of AM broadcasting is sometimes poor because of interference and low power. Therefore AM broadcasting has not been popular in past three decades. So not much channels apply AM broadcasting. Thus shortage of broadcasting bands occurs.
But Wave Radio, a new Hong Kong radio station that will operate in second half year of 2009, will introduce digital technology to improve the audio fidelity. It may be the hope of utilizing AM radio bandwidth. But it can still not relieve insufficiency of bandwidth. In recent years, some Hong Kong pro-democratic politicians opened pirate radio channel to resist existing public and commercial channels, but they faced strong suppression by the government.
In Taiwan, some non-Kuomintang politicians have also opened pirate radio broadcast to promote their views and they also faced forced closure by Kuomintang (Nationalist Party) government. However, pirate channels are mushroomed all over the island and several interference cases are reported. Those channels often promoted medicine with poor quality at high price and the presenters often propagandize demagogic political points of view.
Therefore, digital audio broadcasting should be introduced and promoted forcefully by the governments to provide more bandwidth and reduce the chains on audio broadcasting applications. Reducing those restrictions can create better environment to promote science, technology and traditional culture like classical music, opera. To manage the radio resources properly, quasi-official organizations should be set up and lease the periods for different organizations at affordable rate in order to allot time and channels for broadcasting and promote the quality of radio equipments.
AM radio theories: http://www.howstuffworks.com/radio-spectrum.htm
Introduction of AM broadcasting: http://www.economicexpert.com/a/AM:radio.htm

The original text was distributed on 7:29pm, 28 May 2009.

Digital Audio Broadcast and opening of radio and television channels

In the previous essay, we mentioned that Digital Audio Broadcast can reduce the bands required to broadcast due to combination of several audio streams. In fact, the band volume occupied by one analogue radio channel can transmit 10 digital signals. In Hong Kong SAR, there are seven radio channels transmit in FM and each of them occupies 7 band widths to service different areas. Transmission stations in Hong Kong SAR are often built 10km to 40km apart and one band can broadcast two to three channels from different stations due to reflection of signals by hills and variation of power of waves. 14 analogue radio channels or 140 digital channels can be transmitted through FM bands over Hong Kong SAR when band division is adopted.
Digital terrestrial television has been launched in Hong Kong at the end of 2007 and about 30% of residents have received television service in such way. Five bands are reserved for digital terrestrial television and each band can accommodate four to five channels. After the existing analogue broadcasting being withdrawn, there will be additional bands for additional television channels or amateur radio. But until now, only three bands that consist of ten channels provide service. The other two bands still have not been allocated yet and eight television channels are empty.
There are a lot of people find that the existing radio and television channels in Hong Kong cannot satisfy the needs of the public and the number of channels is not adequate, compared with Taiwan and most of developed countries. Moreover, the license issuing procedure of Hong Kong government is very strict and that inhibits merchants and public to apply for new broadcasting service. For example, only Wave Radio, operated in 2008 by Albert Cheng King Hon, a publisher and former radio host and councillor, applied for new radio licence successfully since 1991. Meanwhile, a pirate radio station operated by some democrats has been run irregularly.
In order to respond the concern of Hong Kong citizens, the pressure groups should urge the government to relax the conditions of licences for broadcasting and change the procedures. The guarantee deposit for audio broadcast should be reduced to $100000 to $5 million, depending on the size of staff, power and reception population. Licences issuing process must be supervised by the Legislative Council. Broadcast licensing authority should include independent academics or experts in cultural field, legislators and district councillors without politic connections. The period for applying low power broadcast licences by education institutions should be reduced to about three months. The change will be conducive to setting of campus radio and media for community services and promote participation of community services. The government and civil groups should be active on setting public television channels, in order to provide a platform for effective communications between government and different parties, promoting messages from non-government organizations, or even providing more educational programmes. In addition, civil groups should also urge the existing broadcasters to invest more on digital broadcast and launch more services immediately and the government should draft a plan to subsidize low income households to buy digital radio and television set and recycling of old appliances to reduce the harmful effect of mass dumping.

The original text was distributed on 10:19pm, 31 May 2009.

Review of cross-strait charter flight-Challenge and opportunities

With a closer traffic connection across Taiwan Strait, more and more air and ship lines provide cross-strait direct services. In addition, more and more people in Taiwan set up factories and own properties in mainland China, especially in Fujian, Zhejiang and Jiangsu. Meanwhile, thousands of mainland Chinese residents travel to Taiwan every week. In near future, they can also take cruise ship as a part of tour. This is due to the pact of promoting closer economic relationship, also known as three links, between mainland China and Taiwan in mid 2008, including trade, transport and post.
A lot of people doubted that the pact will reduce the trade volume, or even economy in Hong Kong SAR, Guangdong Province and Macau SAR because of faster transport modes, lower costs and closer cultural ties, especially between Fujian and Taiwan. For example, flight time between Shanghai to Taoyuan, near Taipei, is reduced from 5 hours to about one and a half hours. Besides, the voyage time on routes from Shanghai or Xiamen to Keelung also reduces for over a half.
Since more than 3 million passengers travelled from Taiwan to mainland China via Hong Kong per year between 2001 and 2008, and half of the passengers did not actually enter Hong Kong SAR, thus many operators in travel industry viewed the pact is a challenge of the region. However, the pact will bring more adverse impact to Macau SAR to other regions. It is because 1.5 million or 80% of total Taiwan-Macau flight passengers headed for mainland China and only 8 million passenger trips take flights or transit in Macau International Airport.
Worse still, the furthest cargo ship destination from Macau is Taiwan and the goods transport in Macau SAR mainly relied on cities adjacent to the Pearl River. Thus direct ship lines between mainland China to Taiwan means a major blow to cargo transport industry in Macau and the region will have heavier dependence upon gaming and tourism industries.
In fact, there are various international flights are available in Hong Kong, and the potential growth of economy in Taiwan, Southeast Asia and India, the demand of international flights to Taiwan will increase in the foreseeable future. In addition, goods delivered between mainland China and Taiwan by air and transferred in Hong Kong International Airport was below 10% of total goods volume in the past decade.
Therefore, tourism sector in Hong Kong should start more intensive promotion in mainland China and Taiwan to attract their residents visit to Hong Kong. They can also suggest tours combining attractions in Hong Kong and Southeast Asia. At the other point, after scandals of abandoning and cheating mainland Chinese tourists, a large part of mainland Chinese citizens do not like to travel and shop in Hong Kong. To make tourists feel secured during their journeys, the tour agents and guides must emphasize their ethics. Airlines should enhance international lines, especially from Hong Kong to Southeast Asia, Indian subcontinent and Europe. In addition, Macau should develop itself as low-cost carrier hub in order to accommodate budget flights or lines with fewer passengers but with potential growth. Also, reducing fares is important to attract more passengers and carriers. That can compensate the loss in both regions due to three links.
 
The original text was distributed on 5:29pm, 25 May, 2009.

A jog in Lai Chi Kok Park

Yesterday afternoon, I went to Lai Chi Kok Park for a jog. Although it was hot, there are still a lot of people enjoying jogging, walking, acrobat cycling, and so on. Tens of people were jogging on the path for some kilometers and sweat dropped from foreheads, necks and arms continuously. During my jog, I saw a group of BMX cyclist racing their bicycles up and down the ramp, or even jump up and land on track. This attracted about 100 audiences, mostly youth and photographers. They enjoyed the racing and showed enthusiasm on the sports.
After my jogging, I took a leisure walk on the paths with continuous trees alongside. Because the park is just next to Mei Foo, a private housing estate with 50000 residents, a lot of residents took a leisure walk in order to inhale fresh air and do some exercises, despite of fear of H1N1 swine flu. A smaller Lingnan style garden is built in the centre of the park. The garden has traditional Chinese arches with calligraphy, pavilions, high trees and a pond with stones. That creates harmonious environment to the rest of park and the estate. Some foreign domestic helpers (usually Filipinos or Indonesians) enjoyed their Sunday off, gathered under pavilion, shades of trees and chattered happily. About ten young people wearing traditional Chinese costume and clothing of cartoon figures posed on platform corridor of the pond and produced some interesting movements. They also interested the lush scenery and played happily.
About 45 minutes later, I walked on the way home. The people enjoyed themselves peacefully. But I think that there was still a defect: playing music not allowed, even in daytime. The law leads to damage of vibrant atmosphere and a suppression of freedom of expression. I think playing some musical instrument like erhu, dizi without amplifier and at sound level below 70 dB will not lead to great disturbance to residents and other visitors.
 
The original text was distributed on 9:32pm, 18 May, 2009.
 

因應經濟融合 香港實施道路右行制刻不容緩

近年來國內經濟高度增長,沿海地區包括廣東省工商活動,人流,貨流量大幅提升,粵港運輸容量亦處於頗高水平.隨著深圳灣通道落成,港珠澳大橋即將興建,兩地間運輸需求也隨之增加.可是,香港和澳門居民使用右舵車輛及靠左行駛,而內地居民使用左舵車輛及靠右行駛,雖然現時廣東省道路未有因容許部份港澳車輛駛進,產生大量交通事故,但只是因為港澳車輛比例偏低和主要由專門往來兩地的大型車輛司機駕駛所引致.
隨著珠江三角洲經濟逐漸融合,香港和廣東省政府有意放寬往返兩地的車輛管理限制,更多香港車輛將會進入廣東省道路網絡.不少香港司機會對廣東省道路和右行車輛陌生,很大可能成為道路隱患.由此看來,統一道路通行方向是解決上述問題的其中一項重要方案.不過,香港特區政府一直未有充分考慮上述問題,更未有一套相關時間表.
其實,因應經濟融合而改動道路通行方向已有先例.瑞典當局於1953年提出將道路左行制轉為右行制,後來能排除萬難,於1967年正式執行.冰島當局也在1969年將其道路轉為右行.
在此,本人提出下列建議,將香港道路轉換至右行制及其一系列過渡方案:

在策劃興建或改造道路時,須詳細考慮轉換至右行制對車輛動力的影響;

於2014至2017年間,香港道路應當轉為右行;

要求即時修訂交通條例,允許左舵車輛註冊,並優先讓同時持有香港及內地行車證車輛(尤其是大客車和貨車)轉換,因上述車輛在內地行駛的里程相當可能較在香港行駛的里程多;

考慮同時有左門和右門車輛在過渡期間行駛,為減少上落客貨的不便和危險,以及對道路交通妨礙,建議在轉換道路通行方向前兩年至轉換後三年將大部份市區和市鎮道路改為單向行車,即一段道路只許同一方向車輛,反方向車輛在鄰邊平行道路行走.
相關網頁: http://www.time.com/time/magazine/article/0,9171,941144,00.html (時代雜誌 Times, 英文, 1967年9月15日)
http://en.wikipedia.org/wiki/Dagen_H (英文維基百科),於2008年4月22日瀏覽.
http://www.gopetition.com/online/26713.html

原文發佈於2009年4月22日,8:55pm

5 years after opening of West Rail Line

On 20th December, 2003, West Rail Line opened and tens of thousands of people flocked to the trains in order to experience the speed of trains. West Rail is a suburban railway line that runs between Tuen Mun to reclamation area in Sham Shui Po, inner city of urban part of Hong Kong. The average speed is 60 km per hour and it just takes about half an hour to finish the whole journey.
Since 1986, many residents in Tuen Mun, a new town in west suburb in Hong Kong and pressure groups had begun to call the authorities to build a regional railway line to Tuen Mun. Due to the great increase of population in Tuen Mun and Yuen Long, about 7 km northeast from Tuen Mun, and inadequate jobs available within those two districts, many residents had to commute to urban areas and the traffic flow became larger. In addition, the soar of property prices from 1984 to 1997 forced many lower middle income families moving to the two towns. Thus the government of Hong Kong built some new highways and approved to build West Rail in December, 1996, operated by KCRC(merged with MTRC in 2007), in order to fulfil the huge commutation demand.
At that time, I lived in Tsuen Wan south, an urban area where West Rail passed through. I hoped that the railway can bring a way of access to rapid transportation, as the thought of many residents there. After the start of construction from 1998, there was a great change at the nearby. For example, some area of parks was demolished and fenced to give the way of construction. Many places were dug. Sand and dust rose over the sky and ground.
When the railway was at the final stage of opening preparation, KCRC announced the fare was at high level. We were very disappointed because our expectation on diverting traffic flow was almost ended.
On the first month of its opening, the daily patronage was about 100000 people and there was a gradual increase of passage flow due to the contribution of daily and monthly passes at a reduced price, and further fare decrease after merged with MTRC.
Meanwhile, there had been a great increase in population in Tuen Mun and Yuen Long in the past decades and social problems in those communities have become worse. For example, many families there involve marriages between Hong Kong and mainland China, and a lot of people, usually men have to work in Guangdong province, thus they cannot live together very often and a lot of domestic conflicts occur. Although those towns have been developed for more than thirty years, the jobs within those towns are scarce and the wages are at bare subsistence level. Many people still have to get their jobs in urban areas and their expenditure on transport are at high level, although they consumed shorter time on transportation due to rapid West Rail service.
There are two extensions of the West Rail Line , which one extend from Sham Shui Po to Tsim Sha Tsui, downtown of Hong Kong, and the other one extend from Kam Sheung Road, 4 km east from Yuen Long town, to Lok Ma Chau, border of Hong Kong and Shenzhen. I hope the two extensions will bring a larger amount of passengers and fully utilize our railway resources. We also hope the authorities can put forward building more industrial and commercial facilities in northwest suburb to help residents in those areas.
 
The original text was distributed on 6:19pm, 20 December, 2008.

25 years of linked rate in Hong Kong – review and outlook

In 1983, due to the negotiation of Hong Kong’s future between China and UK, many people lost the confidence to Hong Kong’s economy and the exchange rate of Hong Kong dollar reduced rapidly. In October 1983, the Hong Kong Government took measure to stabilize the exchange rate, including imposing linked rate to US dollar. This helped the steady growth of Hong Kong’s economy for more than a decade. In the Asian financial crisis in 1997, the mechanism reduced the bad impact to the trade and the reduction of purchasing power of the public.
But the external factors have been changed a lot in the past 25 years. For example, global economic decline derived from over-expansion of loans, especially in sub-prime, probable further decrease of the exchange rate of US dollar due to huge amount of debts of the government of USA, and these make Hong Kong dollar being vulnerable to depreciation of US dollar. Therefore, some financial experts and politicians suggested that Hong Kong dollar exchange rate should include factors of basket of currencies, or peg with yuan. However, the global foreign exchange rates are still based on US dollar and basket of currencies are still unreliable to purchasing power of Hong Kong dollar.
One solution is to make the band of exchange rate of Hong Kong dollar to US dollar wider. When the rate of Hong Kong dollar is high for a few of months, the authorities should increase the base rate. The benefits of this mechanism are reflecting the actual value of Hong Kong dollar, allowing steady increase in exchange rate and reduce the negative impact of changing of rate.
The government of Hong Kong should change the composition of monetary fund. At least one quarter of the fund should be used for purchasing precious metals because most of the existing circulating currencies in the world are based on bonds and thus they are unstable. The history has proved that gold and silver are the most reliable currencies. In fact, half of the total circulating Swiss francs are backed by gold reserves and the exchange rate of Swiss franc has been increased in the past 40 years. Moreover, the inflation of Swiss franc is quite low for a long time. Thus it should be the best method to stabilize the financial system of Hong Kong!
 
The original text was distributed on 10:15pm, 17 October, 2008.

Feelings of 2008 Olympic Games by a Hong Konger

The Beijing Olympic Games started on 8/8/2008 and its opening ceremony was a quite fascinating extravaganza because harmony, the basic spirit of Chinese traditional culture and the achievements of Chinese civilization were performed systematically. But we are very sorry that there some sections were ‘created’ by illusion, including a song was sung by another singer and the ‘footstep fireworks’ display was produced by light projection.
The 2008 Olympics equestrian events have been held in Hong Kong, but most of the Hong Kong people concern about whether Hong Kong Olympic participants can obtain medals or not. Many people think that it is not likely for Hong Kong participants to win any prizes in this Game because Hong Kong athletes do not take a lot of sports training and the professionalism among them are uncommon. In fact, not many Hong Kong citizens aware the development of local sports and the future prospect of Hong Kong sportspeople. The public sectors only offer a few support to the athletes. For example, the training facilities are inadequate and the income of most athletes is barely enough for their subsistence. Worst still, there are not too much welfare, further studies or job opportunities for retired athletes. In addition, the existing education system is not conducive for sports development since it emphasize the actual studies and performance of examinations usually takes the highest place for further studies. Also, the period on sports education in the curricula is very short and the living spaces are crowded, compared to cities in Europe and North America. That inhibits the children to attend sport activities.
As a Hong Konger, it is rather a shame to send a few of athletes to the Olympics for such ‘Asia’s World City’ and a highly prosperous and ‘advanced’ region!

The original text was distributed on 3:49pm, 14 August, 2008