Dear tom -
regarding HK airport, it'd be foolhardy to believe it is a white elephant. Having said that, even if initial cost and distance may require mental adjustment, it is equally foolhardy to think of the good old days of KT Airport. The 1st time I used it decades ago is not much different from the last time I used it several years ago. However, to look at the bigger picture, too many asian economies are vying for the anchoring position for the far east, the new airport, if it can straighten itself out in 1/2 year time, will serve to advanced the HK business interests for a long time to come. So, yes, it is progress if one has the foresight; but no, it is not, if one is shortsighted. To use an analogy, why would the europeans cross the Atlantic?
Regarding housing shorting and property values, well, you got me there. By temperment, I agree with you that the masses deserve decent housing. It is a total disgrace for HK to have them cage-like boarding bunks! However, social engineering is not inherent in the HK genetics, if you will, so, despite my keynesian inclination, maybe a supply side economics fair better for the ever evolving HK character for the time being.
Will HK maintain its strategic importance for China? Your guess is as good as mine! However, the analogous ponderment is why then NYC and London remain a hub of importance for the US and the UK respectively, afterall, the advent of telecommunication seems to render geographical locations a lesser parameter. My take is that there is mythos of a location cannot be underestimated. Places like Boston, Silicon Valley, Wall Street, Fleet Street etc. Sometimes we can quantify it, like Boston has a lot of universities. Sometimes we can't, like NYC. Instead of causing a defraction to NJ enmasse, it pulls NJ up with it. To be less cerebral <g>, we are in agreement in the sense that watching the development in China is important - but I'll bet the HK planners are doing just that.
best, Bosco |
