...1st May 2011 is a memorable day to Hong Kong’s workers as this day is the implementation of minimum wage. For many low skilled workers, it was a happy news as their salaries were increased. However, if we consider the implementation of this law in long term, it is not hard to figure out the negative impacts of the lodge of minimum wage law. In this eassy , we would like to take about the negative effects on employment, small-scale companies and the living standard of Hong Kong citizens. Apart from the problem on unemployment, the implementation of minimum wage poses a threat to the survival of small-scaled companies. That is, it decreases the competitiveness and profit of those companies. Admittedly, the lodge of the law diminishes the rivalry of small-scaled business organizations to those sizable counterparts. Simon Wong Ka-wo, chairman of the Hong Kong Food Council stated that when an indifferent restaurant and a well-known restaurant chain hired workers with similar salary, most people would like to work at a larger restaurant as better welfare would be provided (Zhao,2012). Therefore, it is rather difficult for small restaurants to recruit people. More closely examined, in order to exist in this business environment, they need to add the amount of wages to maintain the quality of services. However, this may further bring them into a dilemma of increasing expenses. Moreover, the declining revenue of the small-scaled companies will surely affect their survival...
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... 4 2. PROPERTY BUBBLES IN HONG KONG ………………………………….…………….. 5 INFLATION AND INFLATION RATE IN HONG KONG ……………………………….. 10 3. CONCLUSION…………………………………………………………………………18 4. REFERENCES ……………………………………………………………………………..19 5. APPENDICIES …………………………………………………………………………..... 20 Appendix 1 ………………………………………………………………………………… 20 Appendix 2 ………………………………………………………………………………… 21 Appendix 3 ………………………………………………………………………………… 22 Appendix 4 …………………………………………………………………………………23 Appendix 5 ………………………………………………………………………………… 24 Appendix 6 ………………………………………………………………………………… 25 INTRODUCTION Resources and scarcity are the basic elements and tenet of economics, so resources and scarcity are related to human wants and desires. Money and time are the most constantly for the resources and scarcity which are the allocation from the resources and impacting the economically efficiency. Hong Kong has been enjoyed as one of the four dragons in Asia for 30 years with the rapid growth of economy worldwide and globalization, but she also suffers from the worldwide downside of economy due to the poor fundamental and lack of long–run strategies that trigger the existing difficult situation. There have many issues and challenges threatening Hong Kong economy recently, we analysis and evaluate two important problems, (1) Property bubbles in Hong Kong (2) Inflation that impacting Hong Kong economy in the short and middle-term...
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...Squared Debate Analysis COMS 305 Abolish Minimum Wage Debate I thought both sides debated the case well, and they all showed interest in the case. The main issue being debated was to abolish minimum wage which is a policy claim. All of the debaters had a clear claim which made me easily interested in both sides regardless of what side I took before the debate. The reason the claims were clear was because they each had verification proving what they were arguing. The debaters had strong poise, and both teams presented their case with assurance and compassion. They each spoke intelligently about their side. There were some key points though. One was whether minimum wages hurts or improves the lives of the poorest American families. Another was that minimum wage destroys jobs as well as job opportunities. In addition, social mobility was discussed, as well as reverse stimulus. The team that was for abolishing minimum wage pointed out that minimum wage takes away any alternatives and that alternatives force employers to treat employees well and specifically said, "most of us don't need legislation to protect us in the labor force" (Roberts). The best examples that were given was employers taking their business over seas and replacing workers with machines. For a specific example, they pointed out how Walmart no longer has baggers (Roberts). The cashiers do it. They also used the example that Hong Kong has never had a minimum wage and they rose up to be one of the most prosperous...
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...HONG KONG Economic Freedom Score 25 World Rank: 1 Regional Rank: 1 50 75 Least free 0 Most 100 free 89.9 This economy is not graded freedom H ong Kong’s economic the 2012 Iscore. is 89.9, making its economy the freest in ndex Its overall score is 0.2 point higher than last year, with improvements in free- Freedom Trend 92 dom from corruption and the control of government spending partially offset by a small decline in monetary freedom. Hong Kong is ranked 1st out of 41 countries in the Asia–Pacific region. Hong Kong has demonstrated a high degree of resilience during the ongoing global turmoil and remains one of the world’s most competitive financial and business centers. The highquality legal framework, which provides effective protection of property rights and strong support for the rule of law, continues to be the cornerstone of strength for the dynamic city economy. There is little tolerance for corruption. Regulatory efficiency and openness to global commerce strongly support entrepreneurial dynamism, while overall macroeconomic stability minimizes uncertainty. Economic interaction with China has become more intense and sophisticated, chiefly through strengthened financial linkages, and financial markets are extremely well capitalized. Although Hong Kong maintains its ranking as the world’s freest economy, policies proposed or implemented since the second half of 2010, particularly the establishment of a minimum...
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...is not that serious in Hong Kong. As the Air Quality Health Index(AQHI) in Hong Kong was normally 1 to 3 out of 10 for the general stations and 2 to 5 out of 10 for the roadside stations according to the Environmental Protection Department. Well, if you just look at the Air Quality Health Index, it seems like air pollution is not that serious. However, we need to consider the concentration of the air pollutant. When it is in high level, it is not safe for us especially for children to go out even when the AQHI is low. The World Health Organization set up a Air Quality Guidelines(AQG) for the air pollutant concentrations. The standard for the air pollutant nitrogen Dioxide, PM10 and PM2.5 are 40, 20 and 10 micrograms per cubic metre. According to the Environmental Protection Department, in 2015, the average air pollutant concentrations for these three air pollutant were 50, 39 and 25 micrograms per cubic metre. Which all of them were much higher than the WHO standard. This results indicate the seriousness of air pollution in Hong Kong. They may lead to lung diseases, cancer or cardiovascular disease which will not only harm our health but also shorten our life. Please, don’t turn a blind eye to the air pollution problem by just looking at the government’s forecast on the TV everyday....
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...Barriers to Asset Building of Working Poor in Hong Kong Subject: Doing Policy Research Subject Code: APSS 3220 Lecturer: Dr. Chen Juan Student Name: Sai Kwan (10704047D) Table of Content No. | Title | Page | 1 | Abstract and Introduction | 2 | 2 | Literature Review Situation of Working Poor in Hong Kong Introduction to Asset Building Asset Building Policies in Hong Kong Theory of Determinants of Asset Accumulation Conceptual Framework for Determinants on Asset Building Barriers to Asset Building in the US Context | 3 | 3 | Research Objectives, Questions, and Design | 8 | 4 | Research Findings Situation of Asset Building of Working Poor in Hong Kong Barriers to Asset Building of Working Poor in Hong Kong | 9 | 5 | Discussion and Summary | 17 | 6 | Policy Implications | 17 | 7 | Limitation of the Research | 19 | 8 | Conclusion | 20 | 9 | References | 21 | 10 | Appendixes | 24 | 1 Abstract - It is widely acknowledged that the numbers of working poor in Hong Kong is tremendously increasing. This paper looks at the barriers of working poor’s asset-building which haven’t intensively discussed by both the government and academicians in Hong Kong. I conducted survey of 45 working poor and 6 intensive interviews. Results revealed that financial...
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...fawfafwwfacfawfafawfaefefaferhgrjgrgjirgjrijigrgijrigjjgj;rgjkljh jfjgkjgjijeiigjihirijgiejhehijrgjihrhrhrHong Kong had some legislation relating to the minimum wage as early as 1932; the Governor was granted the right, but was not obliged, to establish a minimum wage.[1] The Trade Boards Ordinance also gave the governor (and after 1997, the Chief Executive) the power to set minimum wages for piece-rate and time-rate work, and established penalties for non-compliance.[6] However, no governor exercised these powers.[1] In 2006, legislators floated a proposal for a voluntary minimum wage.[1] The executive branch formed a Minimum Wage Provisional Commission in February 2009 to research and eventually set a proposed wage floor.[7] More debate came about on the possibility of a minimum wage in 2010. Legislator Tommy Cheung, who represents the catering functional constituency, suggested that the minimum wage be no greater than HK$20.[8] This earned him the derogatory nickname "Twenty-dollar Cheung".[fn 1] He later amended his proposal to HK$24.[9] Lam Woon-kwong of the Equal Opportunities Commission also indicated he had no objection to a lower minimum wage for disabled people.[10] Chief Executive Donald Tsang was opposed to the whole concept of a minimum wage, according to legislator Lee Cheuk-yan of the Hong Kong Confederation of Trade Unions. Other voices of opposition included the free-market think tank Lion Rock Institute, as well as Miriam Lau of the Liberal Party, who gave...
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...Abstract The high poverty incidence is a problem of many countries that needs immediate attention. The government is expected to be taking measures on this issue. In addressing this situation, regulations should be passed. There is a need for an evaluation of the effectiveness of such solutions. This paper will tackle the poverty situation as it exists in the city of Hong Kong. Focus is on leading factors that cause poverty. An assessment of the effectiveness of the programs being implemented by the government is made. Some reports show that in general, the government’s actions are not sufficient to eliminate poverty. They also suggest that the existing ordinances only to serve as temporary remedies. Key words: poverty, absolute poverty, strategies, poverty threshold Social Security and Sources for Social Welfare Introduction What is poverty? There is a dilemma on how the concept of poverty is defined. In fact, there is no single universally accepted definition of the term since the situation varies widely across different countries. People coming from different places proposed their perspectives on the meaning of poverty. They present varying ideas on poverty, but they have something in common. One view is that the term poverty is something that restricts a person’s freedom. It is also seen as a limitation to acquire the necessary resources enough to live a normal life. Another view is that poverty is a situation that strips...
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...Product Launch Plan MKT 571 February 25, 2013 Meraj Khan Product Launch Plan General Electric (GE) is building the world by providing capital, expertise, and infrastructure for a global economy (G.E., 2013). The corporation is preparing for the launch of the Smart Helmet in Japan and Hong Kong markets, respectively. The Smart Helmet offers improved safety and modern technological capabilities through Bluetooth synchronization and Global Positioning System (GPS) with a heads-up visor display. This paper considers components of the product launch plan for Japan’s domestic market and Hong Kong’s international market. The plan includes a description of the product and positioning, targeting, market needs and growth, SWOTT analysis, the competition, objectives and strategy, pricing and financial information, communication plan, distribution strategy, and market research for the plan. GE anticipates the detailed plan will result in a successful product launch. Product Description The Smart Helmet is designed primarily as a protective covering for the head of any cyclist who desires a full-face helmet. As a product of innovative thought, the Smart Helmet increases safety and convenience by offering a standard voice-activated global positioning system and Bluetooth synchronization with a heads-up projection at forward sky-level. Such features allow the rider to enjoy an uninterrupted journey with music, verbal companionship, and navigation without taking his or her eyes off...
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...Product Launch Plan General Electric (GE) is building the world by providing capital, expertise, and infrastructure for a global economy (G.E., 2013). The corporation is preparing for the launch of the Smart Helmet in Japan and Hong Kong markets, respectively. The Smart Helmet offers improved safety and modern technological capabilities through Bluetooth synchronization and Global Positioning System (GPS) with a heads-up visor display. This paper considers components of the product launch plan for Japan’s domestic market and Hong Kong’s international market. The plan includes a description of the product and positioning, targeting, market needs and growth, SWOTT analysis, the competition, objectives and strategy, pricing and financial information, communication plan, distribution strategy, and market research for the plan. GE anticipates the detailed plan will result in a successful product launch. Product Description The Smart Helmet is designed primarily as a protective covering for the head of any cyclist who desires a full-face helmet. As a product of innovative thought, the Smart Helmet increases safety and convenience by offering a standard voice-activated global positioning system and Bluetooth synchronization with a heads-up projection at forward sky-level. Such features allow the rider to enjoy an uninterrupted journey with music, verbal companionship, and navigation without taking his or her eyes off the road. GE’s new product is differentiated from competitors...
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...http://www.termpaperwarehouse.com/essay-on/Hong-Kong-Fast-Food/125175 Hong Kong Fast Food Hong Kong-style fast food is either served in fast-casual restaurants such as Café de Coral, Maxim's and Fairwood or in food courts typically attached to malls or supermarkets such as CitySuper. The food offered is a mix of Canto-Western cuisine, Cantonese fares, and increasingly Asian food from outside China. Fast food industry faces a challenging and volatile environment. Food is a fast-moving consumer products and companies must be swift and agile to compete globally. The sector is highly vulnerable to changes in consumer demand and commodity price shifts. Porter's five forces analysis is a framework for industry analysis and business strategy development. The followings are the factors of Porter’s five forces: 1) Threat of New Entrants Economies of Scale Large chains do see some advantages of economies of scale which new entrants are not easy to obtain. For example, Café de Carol has adopted centralize kitchen and large-scale advertising program (Appendix 1). Product Differentiation While differentiation is a large and necessary expense for the large fast food chains in the industry, it is not difficult for private startups to overcome and thus not a significant barrier to market entry. Capital requirements will quell the formation of new, national competitors, but is not a significant barrier to private startups. Cost disadvantages stem from the fact that established companies...
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...Sport Obermeyer Case Report Table of Contents Executive summary 3 Introduction 5 Issues Identification and Root Cause Analysis 8 Alternatives and Options 9 Recommendations 10 Implementation 11 Monitor and Control 12 Conclusion and Management Issues 13 Exhibits 14 Executive Summary Sport Obermeyer is currently having great difficulty with matching supply with demand. We have to predict far in advance what styles are going to be popular and how they are going to be produced. Difficulty is more acute with seasonal demand and short life cycles and prediction which is speculative must be almost two...
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...Hong Kong retains top spot of world's freest economy 12 January 2012 Last updated at 05:28 GMT Hong Kong has been ranked as the world's freest economy for 18 consecutive years Hong Kong has retained its position as the world's freest economy, according to a ranking compiled by the Heritage Foundation, a conservative think tank. Singapore ranked second, followed by Australia, New Zealand and Switzerland. The index evaluates economic freedom by looking at the rule of law, regulatory efficiency, the size of government and open markets. The 2012 report said that economic freedom for the world as a whole had declined over the past year. "Most of that decline is due to a large increase in government spending worldwide," said Edwin Feulner, president of the Heritage Foundation. "Governments have justified this spending as a necessity to restart economic growth but it hasn't worked. We think it's time to give the market a chance to show what it can do," he added. North America and Europe suffered declines in economic freedom over the past year, while economic freedom increased in Asia and sub-Saharan Africa. The US came 10th, down from ninth place in 2011. Mauritius, which ranked eighth, was the first sub-Saharan African country to enter the top 10, Mr Feulner said. Hong Kong retained its top ranking for the 18th consecutive year, but Mr Feulner said that Singapore "was narrowing the gap". The report said the introduction of a minimum wage in May last year had "moved Hong...
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...Company Background • Sport Obermeyer designs and merchandises high-end skiwear from its Aspen, Colorado headquarters. • The products are sold in U.S. department stores and specialty ski shops. • Although it has a global supply network, most production is done in Hong Kong and China by its partner, Obersport. Sport Obermeyer Supply Chain Management MGT 690 June 5, 2010 2 Obersport The Supply Chain Shell Fabric • Established in 1985. • It is a joint venture between Sport Obermeyer and a Hong Kong based partner. • Obersport handles the raw materials and production for all of Sport Obermeyer’s production in the Far East. • Production is done in independent subcontractors located in Hong Kong and China. Lining Fabric Insulation Materials Cut/Sew Distribution Center Retailers Snaps Zippers Others Textile Suppliers Obersport Obermeyer Retailers 3 4 Planning Cycle Planning Cycle Cont. • Design begins in February of the year before the garments will appear in stores. • As soon as designs are finalized, samples are produced and shown to retailers during the Las Vegas show. The show is usually held in March. • Concurrently, materials and components are ordered for the initial production order. • Usually receive 80% of the annual order volume the week after Las Vegas show. • During June and July the garments are transported to Obermeyer’s Denver warehouse. This takes approximately six weeks...
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...the parkas’ style and color. Their products were offered in five different genders: men’s, women’s, boys’, girls’, and preschoolers’. The company segments each “gender” market according to price, type of skier, and how “fashion-forward” the market was. Within each “gender”, numerous styles are offered, each in several colors and a range of sizes. In 1985, Klaus Obermeyer teamed up with Raymond Tse to establish Obersport Ltd. This joint venture was used to coordinate production of Sport Obermeyer products in the Far East. Obersport was responsible for fabric and component sourcing for Sport Obermeyer’s production. Materials sourced were cut and sewn within Raymond Tse’s own “Alpine” factories or in independent subcontractors located in Hong Kong, Macau, and China. Sport Obermeyer’s orders represented about 80% of Alpine’s annual production volume. Klaus’s son Wally became actively involved in managing the company’s internal operations after he graduated from the Harvard Business school. He joined Sport Obermeyer full time in 1989 as vice president. Sport Obermeyers’ ultimate success is highly dependent on how well the company is able to predict market response to...
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