The Recipe For Chinese Family Business Failures

The Recipe For Chinese Family Business FailuresFor 77 years, since 1938 when it was a lowly dai pai dong – a sidewalk food stall in Hong Kong’s Tsuen Wan district -- Yung Kee Restaurant’s roast goose has been one of the territory’s most famous dishes – and the restaurant one of its most renowned assets. Yung Kee, populated with ill-tempered and…

A Tour Around Asian Stock Markets

A Tour Around Asian Stock MarketsThe end of 2015 is nigh and as investors look, as ever, to better things in 2016 it is worth looking at where the best and worst places have been in Asia since Jan.1 this year, and where the markets go in 2016. Are the year’s worst performers poised for a rebound? Or will we…

Hong Kong Prudence Down the Toilet

Hong Kong Prudence Down the ToiletThe Hong Kong government’s former reputation for fiscal prudence and good budget management is in ruins. The latest bail-out plan for its Mass Transit Railway Corporation entails not only throwing another HK$19.6 billion of public money at the quasi-public rail and property development company but rewarding its shareholders for the company’s incompetence. Despite needing this…

Asia’s Megacities to Become Mega-Mega Cities

Asia’s Megacities to Become Mega-Mega CitiesBy 2030, New Delhi will be challenging Tokyo at 37 million residents to be the largest urban agglomeration in Asia and the world.  Shanghai won’t be far behind and Mumbai and Dhaka will be on a par with Beijing at 27 million. The only cities on other continents to come anywhere near are Mexico City…

Hong Kong Tourism Industry Under Siege

Hong Kong Tourism Industry Under SiegeAs late as a few months ago, Hong Kong’s residents were up in arms over the influx of mainland tourists, who were called “locusts” for their tendency to crowd out the locals to denude stores of vast amounts of merchandise, with so-called parallel traders buying up as much as certain goods including milk powder as…

TPP Needs to Mesh With Sustainable Development Goals

TPP Needs to Mesh With Sustainable Development GoalsMajor deals between developed and developing economies are not commonplace: On September 25, the 193 members of the United Nations announced a new global action plan for achieving Sustainable Development Goals including no poverty in any form by 2030. A week later, the Trans-Pacific Partnership, or TPP, concluded negotiations that form the largest regional trade…

Trouble Ahead for Hong Kong

Trouble Ahead for Hong KongHong Kong’s run of good luck is running out. One obvious sign is the increasing interference of Beijing in its domestic affairs, most recently using tame Chief Executive C.Y. Leung and a clique of yes-men to interfere in a senior academic appointment at the University of Hong Kong. But beyond that, there is a convergence…

Hong Kong Airport Expansion Threatens Endangered Porpoises

Hong Kong Airport Expansion Threatens Endangered PorpoisesIn 1991, Hong Kong set out to make history with its gleaming Norman Foster-designed international airport by leveling two islets off the tip of Lantau Island totaling 4 sq km and reclaiming 9.38 sq. km of the adjacent seabed. The airport opened in 1998, record time for construction of such a massive project, which included…

Ireland Opens Hong Kong Consulate

Ireland Opens Hong Kong ConsulateOn Sept. 18, an Irish cabinet member will open the country's first consulate-general in Hong Kong, both a reminder of the deep Irish historical footprint in the city and a sign of the country's booming relationship with China. Richard Bruton, Minister of Jobs, Enterprise and Innovation, and Financial Secretary John Tsang is to open the…

Hong Kong Taxis Uber Alles

Hong Kong Taxis Uber AllesThe arrest of drivers working for the Uber taxi app operation in Hong Kong is further evidence of the grip that monopolists and oligopolists have on the territory’s government. Uber was initially welcomed by the authorities, with the government agency InvestHK, which encourages entrepreneurial investment, giving publicity to the local launch of the service.  However,…