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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: ---------- who wrote (1998)	7/14/1998 12:35:00 AM
From: Ron Bower	Read Replies (2) \| Respond to of 2951

Doug, Are you familiar with 'Homeway'? IT's the Chinese version of Home Depot. They actually came over here and studied Home Depot before they started up. Their store in Beijing did an approximate $38M US last year and they are opening five more stores. Why? People now own their own home instead of it being owned by the State and they only allowed to live there. Now that it's theirs, they want to fix up the place. Number one growth job in China - Real Estate Broker. Group that bought high dollar condos are suing the developer for shoddy workmanship. Problem: no laws as yet on the books related to this type of lawsuit as you couldn't sue the State. The Courts have agreed to hear the case and it will set precedents for similar suits. THis is one of their major problems. They've changed so many policies and don't have the laws or regulations that cover because they didn't anticipate the need. BUT - they are adjusting as they go. THe judges will have to learn a new type of law. It is no longer what's good for the State. They must now decide on individual rights. Does this sound like (Dare I say it?) Democracy? FWIW, Ron PS - It's going to be very interesting to see what happens in China over the next few years as they try to cope with the can of worms they've opened.