Lion Rock's Newsletter
CY Leung has been elected as the next CE, assuming his office in July 2012. Many have said that the interventions from Beijing in the election indicates the death of the "one country, two systems" mechanism. Through the whole election, LRI hopes that Hong Kong people would learn to cherish the high degree autonomy of the HKSAR and the freedom in this city.
A week after the CE election, the Minimum Wage Committee submitted their report on minimum wage adjustment to the government, suggesting an increase between $1-6 from the current level of $28 minimum wage, which means $29-35. The government has also promised an official consultation of maximum working hours. Countless fierce battles in public and LegCo are foreseeable.
The Lion Rock's Roar
In his personal column in Eastweek, Peter Wong talked about his interview with an undergraduate from a local university regarding the Mandatory Building Inspection Scheme. When asked why such a scheme couldn't be a tool to catalyze the Government's urban renewal plan by increasing homeowners' burden, rather than a law that was intended to protect its citizens, the student was speechless. The lack of imagination and ability of thinking out of the box is truly a worrisome development for our higher education.
In his personal column in Sharp Daily, Simon Lee talked about his debate with Mr. Shih Wing-ching, a co-founder of the Centaline group, about Mr. Shih's theory of second redistribution. Mr Shih suggested a minimum amount of second redistribution by the Government, but Simon Lee argued that the poor can never leave poverty until they understand what value creation is, no matter how much the government gives them. Instead of materials, people need a fair and business-friendly environment, which would encourage them to set up their own business. That is the best solution to poverty.
Lastly, Peter Wong has started writing for Eastweek magazine, which is published every Wednesday, from March onwards. Don't miss it.
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