Jay, I bought a good quality battery-powered drill/screwdriver a few weeks ago. All my life such things didn't exist or they were expensive. They've been getting cheaper and cheaper. I saw if for sale for NZ$50 and figured I just had to have it, if only as a work of art [my days of constant drilling and screwdriving are over because I buy new cars now - requiring no roadside repairs, good houses - requiring no significant repairs and maintenance].
I've unscrewed a few screws and done them up again, just for fun.
It was Made in China. Everything is Made in China. We used to have Made in Japan, Made in Hong Kong, Made in Taiwan, or Made in Singapore. Now, Made in China is where things are from. I suppose that means that Hong Kong will, as electricity does, flow downhill to equalize voltage with Shanghai. Shanghai and China are big places, so it is Hong Kong which will flow in their direction rather than China flowing towards Hong Kong [a bit like conservation of momentum such as when a Fiat Bambina hits an SUV or and SUV hits an 18 wheeler].
Is that not what's happening in Hong Kong? Sure, there's the overall economic woe, but surely the greatest effect is the transition to Hong Kong's huge and now successful competitor [Shanghai and China].
Hong Kong will be valued in the same way as Shanghai. Are land and building values now equal? Pay rates? If not, the process presumably will continue with Shanghai pay rates increasing [slowly] and Hong Kong pay rates dropping [quickly]. Why should I pay somebody more in Hong Kong than Shanghai?
Mqurice |
