Letters and Blogs

Mainland big but tough for HK directors

It's obvious that Hong Kong's film industry is currently declining. How brilliant were HK films 20 years ago?

HK is a comparatively small city, making its domestic market easily saturated. But when the domestic market is full, she has to find an outlet. And the best outlet currently seems to be the mainland.

So HK films change their style and inject many mainland factors in order to adjust to the mainland market. But when they change, they are no more HK films.

Excellent movies always originate from directors explaining the world through their special perspectives, rather than catering for certain group's interests.

Contemporary HK films have lost their orientation, which is the main reason for their decline.

Words

on China Daily website

Addressing poor financial management

Comments on the article "Purchase of US Treasuries to continue" (China Daily website, March 24)

A paradox is that China, on one hand, commands tremendous trade surplus, but on the other, ties a great part of its economic growth to FDI. And the result is that we lend our own money to foreign investors at a far lower rate, and then they inject the borrowed money back to China, pocketing great profits.

However, as the mechanism theory suggests, in a relatively ideal market environment, money sooner or later will fall into the hands of people who manage it most efficiently and generate the most profit.

China is falling victim to a self-imposed trap due to the mismanagement of investment portfolios, which could lead to painful consequences. There is a fundamental and systematic flaw in the financial management, which should be addressed.

Chen

on China Daily website

China's leaders are aware of the current state of US treasury bonds. So why do they keep buying them?

If China wouldn't buy, it would imply a change in its policy and the bonds' value would decrease immediately. International buyers will follow the biggest owner and not buy either. That, in turn, would mean that China's staggering bond assets would become worthless, and the US-economy couldn't recover, so on both sides of the Pacific ocean, people would lose.

What I guess China is going to do is buy them now and slowly sell them when the US economy recovers.

Wu

on China Daily website

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(China Daily 03/27/2009 page9)