As Hong Kong’s GDP grows, its poor struggle; sound familiar?

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Hong Kong’s GDP grew 6.5 per cent in the first half of the year, but the poor are struggling with expensive housing and food prices. Sound familiar?

Check out this Financial Times video.

Is this the model we want to pursue? GDP growth with scant concern about income inequality? Is this the logical outcome of the corporate-driven model of economic development?

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Wati

Malaysians are poor because our ringgit is low value relative to other major currencies. This is because of poor BN governance that does not add value but simply good at wasting public fund (corruption!) and got away with no accountability or punishment.

Vote out BN in order to have real high income nation!

Nk Khoo

That why occupy Wall Street is sweeping the world like tsunami.

Communism already proven disastrous to humankind, the capitalism will be next evil thing to be throw away if greedy is not checked.

Top 10 Hong Kong tycoons control 60% of wealth is telling capitalism is just the mirror of communism, first one is money greedy and latter one is power greedy.

tunglang

GREED + POWER + MURDER, the 3-in-1 formula for reaching the tops of the wealthy-not-enough of Forbes list.
It happens everywhere, whether communism or capitalism or fascism. Men are prone to greed, the deamon ego is not manageable, no matter how pious or upright the moral upbringing.

Doc Vaseegaran

Make it 3-in-1 plus 1 which is SEX. Sodomy I & II can justify that.

So better drown our sorrow and watch entertaining & inspiring action movies like Enthiran than sickening greed, power, murder & sex and so on ……

Happy Diwali to all Hindu readers

rilakkuma

Doc
Ethiran was last year Bollywood hits.
Current blockbuster is Sharukh Khan’s RA. One

I was told Bollywood movies also popular in Hong Kong.

tunglang

3-in-1 plus 1-Sex is an overdose.
But boleh guna walau apa pun by the Barang Naiki Syndromed.
Wonder why profitable Tongkat Ali is still in its infancy in BolehLand?

rondonski

HONG KONG: Hong Kong continues to be the most expensive place in the world to rent office space, according to research from a property brokerage.

And despite an expected slowdown over the next 12 months, Hong Kong would likely retain its world-leading position, Colliers International said yesterday.

Hong Kong again topped the rankings for the world’s most expensive cities to rent office space, ahead of London’s West End, Paris, Tokyo and the City of London, according to Colliers. – Reuters

QQ

Sounds the same in Singapore too! GDP doesn’t show the full scope of quality of living for everyone.:)

tunglang

GDP = Gross Deception of Prosperity (of nations)
Ever since the invention of such hyper terminology, we have been Shiok-sendiri with marked up figures and fantasies of future’s earnings. Only the poor doesn’t understand it with two feet firmly on the ground.

王牛港

We need to realize that Hong Kongers are more resilient with strong entrepreneurial spirits (something quite lacking among lepak/complacent Malaysians) with big brother China to guide them through the economic hardship.

As for us Msians, the tongkat & alibaba patronage (who u know & not what u know) culture will inevitably drag us down in terms of competitiveness and competency like Man Utd thrashed by Man City 1-6 kind of scenario ???

Sariah

Rakyat must wake up now.

High wastage by BN (see AG report), high corruption and high deficit with low productivity/efficiency will plunge the nation into debt that BN wants rakyat to pay with GST.

Do not worry for Hong Kong as the people knows what is hardship and how to overcome it. Same thing cannot be said for the majority in Bolehland that require tongkat with subsidy mentality.

rondonski

I’m a Malaysian living in Hong Kong for the past 3-4 years. Hong Kong people are not more resilient, I’m sorry to say. You may think they are entrepreneurial because they are Chinese. Nope. They are quite different from a Malaysian Chinese, who have to work harder in school to do better than their Bumiputra counterparts. A typical Malaysian Chinese has to just be that much smarter in school, business, in getting jobs, contracts, projects. We have weathered well in Malaysia. We worked hard. Then you come to Hong Kong and find out that Hong Kong people never had to… Read more »

Ipmanski

Mr or Miss rondonski
I find your reasoning like typical MCA ceramah to allay the local chinese fear to migrate out of bolehland.
The fact is still many cotemplating of leaving bolehland and I heard balik china nowadays not that bad anyway.
anyway, you can share your views and the fact is many malaysians still like hong kong’s spirits and must hav been influenced by TVB drama series.

rondonski

@Ipmanski I understand what you’re saying. Maybe I sound like an MCA politician. Just to assure you, I’m a DAP person from the day I was eligible to vote. My hero is Lim Kit Siang, not Lim Guan Eng or Anwar. Anyway, Malaysia is still home. I have no plans to live in HK for more than a couple of years. I’m here to watch my daughter grow up and get married. Then I go home to Bolehland. I prefer to go back and fight for with my Malaysian friends and family. Am I right that you’ve never lived in… Read more »

ChuahMK

I agree with Mr.Rondonski’s views about Hong Kong. I’ve been here 11 years and I’ve compared Hongkongers with Malaysians. Quite obvious that Ipmanski has his views distorted by TVB and travel brochures. I run a business in HK. I have seen that typical HKers seem to have little confidence when challenged. They seem to be ignorant about how they are governed in this little city state. HK is run by a cartel of property developers and some banks. HK Govt is subservient to them. Housing is now being built for mainland Chinese with money and priced accordingly. Available land is… Read more »

rondonski

The fact is, you have to be rich to migrate. Only a very small number of people are contemplating leaving Malaysia to settle somewhere else. But to most, Malaysia is home to them and there’s no place to go. But if they did, I can’t recommend Hong Kong. It’s just too expensive. All that you earn just goes to pay rent. Rent for a very small apartment of 600 sq ft is equal to RM5,000 a month on Hong Kong island. Don’t even think of trying to buy one.

tunglang

O-Blady banks and corporations rule the world, whether in HK, USA or South Africa. Soon this ‘cartel phenomena’ will take roots in BolehLand, most probably in Penang’s property market where big time corporate-developers (esp. the KL-wised but cunning ones) will twist arms of local gomen in lop-sided exchange for high prized developments.
And Penang fellas, believing in high net assets will be proud of having the highest property prices in BolehLand. A fallacy of unaffordable homes not too different from the Hong Kees.
But some bank door lickers and rainy green horned speculators love it!

Hasmawi

Sounds familiar because we all know the impact from BN’s Barang Naik phenomenon on all rakyat.

Deficit deepens as BN government continues to borrow 25 sen for every RM1 it is going to spend next year.

Borrowing cost will go up. Nothing is free.
Rakyat will foot GST soon to pay up whatever goodies BN is giving to you today. Again, nothing is free. BN is just giving you something before PRU13 and will take it back from you via GST after PRU13.