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  • McMEM McMEM Jan 19, 1998 1:55 PM Flag

    mmo123, you are it

    HK has one of the largest of reserve in the world, which comes from years of export surplus. If HK just import cheap goods and slap on HK label, how can they obtain such surplus year after years? Banking and real estate do not bring in just surplus, it has to come from manufactured goods.

    Go to any US university and you'll find the best students come from HK. HK has the talents and capitals to excel in any business.

    Before calling other people sh. head, please exam your own. At least the other person has sh.

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    • McMEM, you are full of it. Have you been to HONg Kong before? Well, I grew up there, I made money there, and I still have investment there. How stupid could you be? Do you know how HOng Kong accumulate so much surplus in US$ reserve?

      Pick up a history book and look at the development of the region since world war 2. After 1949, the commie took over china,
      and there was no diplomatic relations with the west except Britain (until 1950). But still there was no channel to export
      chinese good into the world market with just a few exception, like the communist block country. But they didn't have much money to
      buy any way. So the only way for china to export and earn foreign reserve between 1949 and until the mid 1970's ... is to ship
      product thru hong kong, putting hong kong's label on it and sell it in the world market. That is how hong kong accumulate such a
      huge reserve for a small island / peninsula region.

      Do you know how expensive the real estate is in hong kong, are you nuts that you want to use those real estate to operate a manufacturing based company. With a few exception of small electronic products and others, hong kong have virtually no manufacturing industrial.

      If you are so certain that hong kong export a lot, could you name a few product in the world market manufactured by hong kong?

      You are only right on one point, that is at any US Univeristy, the best students all came from Hong Kong, and I am one of them.

      • 1 Reply to mmoo123
      • Of course HK has a manufacturing base. I worked at factories there before I came to US to study. Most of the toys in the world are made in HK. With 6 millions population, are you claiming that they all work for banks and speculate real estate?

        Of course there were people who got rich by slapping labels on China products, but the percentage is small. HK got the hugh reserve from people like me who worked their buns off. Got a HK paper and see how many engineers these companies are hiring.

        Another example is my company located in Los Angeles, about one humdred miles from Mexico. The pay of Mexicans are about 1/5 to 1/10 of what the Americans are making, yet the unemployment rate at Mexico is 5 times higher than at US. Real estate at South Cal is among the highest in the US. I am paying $60K for fresh college grad, and $70 to $110K for experience engineers, but I cannot hire enough qualified people. Still, I have no plan to move my factory to Mexico in the next 5 years.

    • It amazes me when some people who do not fully understand the region and invest in the chinese ADRs.

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