:0) Thanks for the read on NZD, something you are more qualified than most if not all of us here on BBR to comment.
I will skip the part about Q ;0)
On adulatory income, yes, it is satisfying, but the puzzle is how can one monetize it :0?
On Hong Kong, I give you my read of Freedom Mountain Kowloon and Money Rock Hong Kong. Our Chief Executive Tung Chee-Hwa delivered his eighth annual policy address to the Legco. I heard his comment last night at some gala function held in the Grand Hyatt by the US-based Committee of 100 (a group of somebodies doing somethings).
The policy address covered a wide range of issues including governance reform, fiscal performance, urban development, and economic promotion measures, but there were no major breakthroughs on the surface.
The positives for the retail, tourism, financial services and trade sectors:
Increasing employment remains a policy focus. The government will continue various job training programs especially for young people. The government expects that 36 new hotels be completed between now and 2008, and their construction alone would create 10000 jobs.
On the fiscal side, Tung promised that the government will not introduce a goods and services tax within the next 2.5 years (EDIT: hooray for freedom).
On financial integration with the mainland, the government for the first time formally mentioned the possibility of tapping into the huge potential of providing assets management services to the mainland (EDIT: Hip hip for capital flight).
On tourism, Tung expects tourist arrivals to reach 35 million in 2010. This represents an annual average growth of about 9% between 2004-10 according to our calculation (EDIT: Could it be, Hong Kong casino town coming?).
The government pledged to further promote Hong Kong as a shopping paradise by, for example, expanding the consumer protection program for visitors (EDIT: All power to the efforts in that regard, as I have property in the way of progress next to the old airport, waiting, patiently).
The government has started to consult industries on the contents of CEPA III (progression of Nafta type arrangement unifying Hong Kong to the Mainland), to be implemented next year. I presume CEPA III will further expand the access of Hong Kong services and service providers to the mainland market (EDIT: Yes, I must get in tune with the Force, construct the machinery, and tap into the Power of positive integration, before Taiwan competes to edge me out)
Chugs, Jay |
