Li Ka-Shing is the richest Chinese in the world and of
course in Hong Kong, his business is almost everywhere ranging from logistic, supermarkets,
energy, to property development. Interestingly,
a recent article from the influential 21st Century Business Herald#1
in China predicted that his monopoly or golden era in Hong Kong is over.
Li’s position in Hong Kong in many ways is even more important
than Temasek Holdings in Singapore. Why
a mighty ‘Superman’ has to end his golden era in Hong Kong, 17 years after the return
of HK? The reason is simply. According
to the article, Chinese state-owned enterprises (SOEs) are marching into Hong
Kong. In the eyes of Chinese political
leaders, the most they can classify Li is just a successful businessman and for
political reasons, the importance and existence of SOEs in Hong Kong are more than
doing businesses and making money alone.
So, Li now moves his investment to Europe.
[Li Ka-Shing goes shopping in Europe as Hong Kong sales slump] #2
Why does he want to move to
Europe when Li has so good connection in China? And Euro crisis and European recession
are still not over yet. Perhaps, he sees the value in
Europe or the undervalued assets in Europe as The Malay Mail above had suggested.
The 21 Century Business Herald gives another reason. Li
predicts his future business development in Hong Kong is limited and his monopoly
positions in many business sectors are ending. However, the decisive reason is he sees his
investment in Europe has a stable and predictable future with certainty. In
another word, he wants to invest in a business environment that has legal
protection.
We have to understand that media in China is
controlled. Why does a Chinese publication make such a prediction? Why does Li think
there are less legal protections in Hong Kong in future? And the 21st
Century even says Li has made a right business decision and strategic move.
What lessons for Singapore?
It is very complicated.
At least, we are lucky Singapore is an independent sovereign
country and Singaporeans can decide our future in the present moment. Legal protection is always here and
increasingly, the ruling party has to respect the rights of citizens.
But will the Hong Kong situation happen to us? When
our population increases to 7 million, the game play will be very different. We
have seen more and more SOEs coming to Singapore as well as many Indian
companies too. In theory, we can do a
yin-yang balance to offset all the inflows of Western, Japanese, Chinese, Indian
and Korean investments and businesses. Just like what we did in the past 50
years.
But with the increasing mistrust between the PAP and
Singaporeans, what will be the future look like? Will the PAP be another Chief Executive
of Hong Kong, having limited say in the running of Singapore? Will Temasek Holdings like another Li
Ka-Shing, having less control over Singapore economy? Perhaps, a less monopoly Temasek
in Singapore is a good thing to all. We
don’t know.
The Wall Street Journal Chinese edition has an
interesting article on political promise in China#3.
This is a book review by a constitutional law
professor from Peking University. He talked about several ‘miss’ opportunities
for a constitutional (and democratic) China. He said, ‘we entrust everything to
the people who rule us and believe the delivery of political promise made by
the rulers. Unfortunately, political promise cannot be trusted (given the
situations in China).’
The review also touched on the mindset change and political
demand of the Chinese:
[When you realize you have the right to demand something, you are no more a slave. However, the Master has not adjusted to this change and he still treat you like before. The logic of the Master is simple if you have no power to challenge me, you better wait. Not to forget, I still hold the national machineries! And our pioneers had fought hard to win the war with your support.]#4
Singapore’s situation today is certainly better than that
of today’s China. Yes. The PAP won the elections in the 1960s with the people’s
support. They now control the machineries of the country. But when we awake and
demand for more changes, they hesitate and refuse to adjust.
Under Singapore Constitutions, general elections have
to be held regularly, this makes us very differently from China and Hong Kong. We decide the political stability and legal
protection in Singapore. We still have a
final say at least in the coming election. We should appreciate it and vote wisely.
#1
#2
http://www.themalaymailonline.com/money/article/li-ka-shing-goes-shopping-in-europe-as-hong-kong-sales-slump#sthash.rVxaJAxa.dpuf
#3
#4
你现在站起来向主人“讨说法”，那就表明你已经不是奴隶了。不过，主人还没有适应这种变化，他还和从前一样把你定位成奴隶。他的主流逻辑是：只要你还没有实力和我叫板，就慢慢等着吧。不要忘记，国家机器掌握在谁手里！这个江山是我们先辈打下来的，当初也是在你们拥戴下得到的。(cn.wsj)
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