Thursday, May 19, 2011

Hong Kong is No.1 Most Competitive Nation.

After, Hong Kong Air port and Cathay Pacific airlines was nominated the best Air Port an best airlines last week, In the 2010 edition of the World Competitiveness Yearbook, released on Wednesday 18 May by the Lausanne-based Institute for Management Development (IMD) in Switzerland, Hong Kong, have moved up one spot to take first, Singapore was No.1 become No.3 this year, second place goes to USA as the world's most competitive nations. Both Hong Kong and Singapore have now surpassed the U.S. for the first time in decades. Since September 15 , the melt down of Leman Brothers in 2008. Singapore and Hong Kong suffered during the recession, but demonstrated a striking ability to rebound. Hong Kong’s prosperous economy is much related to the prominent economic growth of China.
However, Hong Kong faces the highest inflation rate, high soaring real estate price and the sluggish decision making of the impotent government administration is slowly poisoning this duck that can lay gold egg. The Gini Index is very high and more than 900,000 people in Hong Kong are classified as “poverty”. Minimum wages of HKD$28 has been listed in the labour law of HK since 1 May. We will be suffering as most of the cunning enterprise, and big firms and company instead will put the offset of the salary plus their finely calculated earning to the end users including you and me…
Well, intentions of helping the poor will not be at no cost.
HK Snob

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