Yue Chim Richard Wong 王于漸

Has Hong Kong Lost Its Magic? (Part Five)

By YueChim Richard On 2013/05/08 · Add Comment · 79,886 views

Has Hong Kong Lost Its Magic? (Part Four)

By YueChim Richard On 2013/05/01 · Add Comment · 74,393 views

(This essay was published in Hong Kong Economic Journal on 1 May 2013) The most obvious and disastrous outcome of these circumstances has been the decision to adopt a system of proportional representation in elections to the legislature. This has created conditions that encourage and foster the fragmentation of representation. An aggregation of public opinion was difficult to begin with it but it has now become an impossible task. Instead of finding a proper balance for a new set of economic and social policy agendas, it produces permanent disagreements among sectional, narrow and self-serving interests that dig in their heels and harden their positions. Society becomes more politically divided over time as disagreements lead to policy stagnation. Unresolved economic and social issues pile up and society becomes more divided not only economically and socially, but also politically.

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Has Hong Kong Lost Its Magic? (Part Three)

By YueChim Richard On 2013/04/24 · 1 Comment · 86,377 views

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Has Hong Kong Lost Its Magic? (Part Two)

By YueChim Richard On 2013/04/17 · Add Comment · 9,120 views

(This essay was published in Hong Kong Economic Journal on 17 April 2013) In the area of economic policy the British colonial government was committed to free and open markets, limited government, low taxes, light handed regulation, and respect for private property rights. In the area of social policy it developed a social welfare system in which education, welfare services, health care, housing and other areas were to varying degrees based on the British model of relying on both direct public provision and subsidies to non-profit voluntary organizations. Any excessive aspiration for creating a lavish welfare state was kept in check, not only because it threatened fiscal prudence, but also out of fear it could lead to an appetite for greater participation in political life. . . . The transition to a more open access political system promised under the Basic Law has redrawn the terms of engagement between the social and economic policy arenas. The balance in the tug of war between the economic and social policy agendas has been tilting against the economic agenda; positive non-interventionism is increasingly under attack.

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Has Hong Kong Lost Its Magic? (Part One)

By YueChim Richard On 2013/04/10 · Add Comment · 12,971 views

(This essay was published in Hong Kong Economic Journal on 10 April 2013) The economic opportunity presented to Hong Kong through China’s rise and opening would create dislocation and disruption in our own community. Amidst rising prosperity there would be losers and laggards. These people would not be able to partake in the new opportunities. Their condition would have to be addressed so that it would not present an obstacle to future economic progress, as they gained a stronger political voice under an increasingly more open local political system. Bold and visionary choices would be required to address this situation. The aim would be to achieve three goals: (1) manage continued economic prosperity as an open city through dual integration with both the Chinese economy and the world economy, (2) attain shared prosperity within the community so that populist politics would not become overly divisive, and (3) nurture ever widening opportunities for mutually advantageous cooperation between Hong Kong and the Mainland for “one country, two systems” to have growing vitality.

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Has Hong Kong Lost Its Magic? (Part Five)

Has Hong Kong Lost Its Magic? (Part Four)

Has Hong Kong Lost Its Magic? (Part Three)

Has Hong Kong Lost Its Magic? (Part Two)

Has Hong Kong Lost Its Magic? (Part One)

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