Hoping to help stop the local property price from going up too fast, the Hong Kong government has just imposed a 15% tax for residential homes to be bought by foreign buyers. However, the real effect of this new policy remains to be seen.
Perhaps, to keep up with the times, a Laissz-faire economy with proper government intervention would be necessary?
A growing number of nations are now claiming that they have become victims of globalization. In particular, the main focus seems to be loss of jobs to other countries. As a result, we are hearing a rising call to “buy local,but not foreign goods”.
However, if all nations do the same, what would happen to Free Market and World Trade?
Welcome to isolationism !
Hong Kong has just been named the World’s most Livable City according to EIU. It even beats Singapore (N0. 22), a surprise to many!
The main point seems that most residents here choose to live in the city,thus leaving vast suburban areas green and eco-friendly…
With other recently awarded titles like “Best Business City in the World”, “World’s Greatest City”…Hong Kong is fast becoming the “paradise” on earth?
With a rising middle class, China certainly has the potential of becoming a top global market for consumer goods. However, many foreign businesses only find themselves exiting it soon after arrival.
1.Absence of unbiased Feasibility Study before plunging in
2.Lack of understanding of Local Market and Culture
3.Blanket implementation of Management and Marketing Practices from home without proper adaptation
4.No Mid and Long -term Strategy, just trying to make a fast buck
5.Failure to do as the Chinese do while in China…
To save face is an important part of Oriental culture, as harmony is regarded as the key to accomplishing anything and everything socially. Here , I am talking about face-saving not only for an individual but for people he is dealing with as well.
To this end, usually a compromise is reached so everyone is happy. But, if that’s not the case, try to agree to disagree graciously and leave the back-door open and, above all, make sure you do not embarrass the other party especially in public.
This is something you’d better master in daily life, business and otherwise.
There has been much talk about shifting manufacturing from China because of rising labor cost etc. The process, however, will be gradual and not likely impacts China greatly at least short-term due to :-
1. Well-established supply chain not available elsewhere for now
2. Fully-developed logistic infrastructure
3. Pool of skilled and trained labor
4. Rising productivity and manufacturing efficiency
5. Stabilization of RMB, China’s currency with its recent appreciation losing momentum
At Franchise Expos in Asia, most franchises offered now are for western products and services. It’s time we looked at Asian possibilities for the world, such as:-
1. Herbal Medicine and Treatment
2. Medical Device related to Practice of Oriental Medicine
3. Asian Food and Beverage
4. Martial Arts
5. Asian Culture
6. Products from rising Asian Technology
7. Asian time-honored Brands
Opportunities galore, waiting to be tapped!