Insider trading is the bane of stock markets. But the gravity of this illicit practice has largely been overlooked by the Chinese investing public since the domestic stock market is booming and everyone seems to be making money.
Economists in Hong Kong seem to agree that the widening gap between rich and poor is threatening to erode the social fabric on which the vibrant economy is imprinted.
Many proponents of the proposed merger of Hong Kong's two mass transit systems have been saying that such a marriage would bring great benefits in terms of efficiency and cost savings.
The Hong Kong government is getting serious about clamping down on dishonest merchants preying on tourists particularly those from the mainland.
I was amused and bewildered to see the lead in a recent issue of a Hong Kong English-language daily newspaper calling for the return of bicycles on the city's streets.
The argument that top salaries must be paid to attract talent into the Hong Kong civil service sounds unsavory.
The much talked about rivalry between the Hong Kong and Shanghai stock exchanges is making less and less sense. The latest discussions on the subject focus on the expectation that the size, as defined by total capitalization, of the Shanghai stock market will soon exceed that of Hong Kong. Some prominent commentators have cited this projected development as yet another indication of the progressive decline of Hong Kong's importance as an international financial center for the mainland.
Pride of ownership has become a cliche frequently cited to explain aficionados paying big money for something that's as unnecessary as an ornate wristwatch or as obsolete as a mechanical range-finder camera. But behind this cliche lies a passion that we can all share, a deep respect for, and appreciation of, excellence in workmanship. It is manifested in the uncompromising quality of the product, which may seem to others outrageously overpriced and laughably impractical.
Not too long ago, pulling down an old landmark to make way for a new highway or other structure usually caused nary a whimper from the public. Such apparent insensitivity to the destruction of part of the city's heritage was widely attributed to a lack of a sense of belonging, or, more bluntly, a refugee mentality.
With the opening of its investment promotion office in Shanghai last week, Hong Kong is getting serious about enticing mainland enterprises to open offices in the special administrative region as a base for their overseas expansion.
Shortly after the Hong Kong government announced its budget for the current fiscal year, Anthony Cheung, a member of the executive council, the policy making agency, posed the question: "Are we really all that rich?"
The Shanghai stock market's nearly 9 percent plunge last Tuesday has been taken by many investors and analysts as the shrillest warning so far of an overheating market that has been sucking in copious amounts of funds from lofty institutions as well as savings from the average person-on-the-street.
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