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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (5719)	7/8/2001 12:33:55 PM
From: Rolla Coasta	Respond to of 74559

I expect Shanghai to overtake HK in a lot of ways within 5 years. Hi Jay, yeah I think so too. What brought HK to prosperity were the Shanghai immigrants and north-eastern Cantonese like Li Ka Shing. Now, the economical focus apparently has been shifted to Shanghai, which means HK must redefine itself. In fact, I see HK has been doing that for quite a while. For the early part of the 70-80s, HK had relied on toy manufacturing, textile, electronic parts export. Until the late 80-90s, they were pretty much a distributing center between China and the rest of the world. And HK dollar is pegged with US dollar. That's not good for the export alone. Now, the economic activities tend to be globalized, which means the world businesses must somehow focus on globalization. I think Greenspan is correct. We need globalization, as global money flow tends to concentrate on one region, upsetting the balance of world economic activities and its growth. Workers I think could become globalized too ... that means they have to travel and work in foreign land, when the economic activities are shifted to somewhere else. Take HK as an example. HK used to manufacture. But now the activities are gone, and HK people have to move somewhere else to find growth in the mainland. Same things could happen in US manufacturing. They may have to redefine themselves. But since US has good education system, I think they will do OK. Well, afterall, I see HK land properties won't look too good in this 5 years. They may dive some more. HK govt should find some good businesses for its people, especially the young generation. 10% of the new grads are unemployed. That's not a good news for HK, even though mainland China is about to boom. Diversification of a kind, due to lessons learnt in three generations. Need to learn a lesson from you perhaps :0) Q