Word: kong
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Just as the political elite is united, the forces that would have to oppose them in any move to change the country's political order are fragmented, says David Zweig, a political science professor at Hong Kong's University of Science and Technology. Though it is miserable for those thrown out of work, millions of peasants going back to their villages are highly unlikely to pose a threat to Beijing. "Remember, Beijing has done this before: between 1998 and 2000, the government put tens of millions of workers at state-owned enterprises out of work. There were plenty of strikes...
...watch the Big Three bailout saga unfold in Washington from halfway around the world here in Hong Kong, a phrase comes to mind that used to be commonly heard in Asia: "Too big to fail." There was a time when politicians, bankers and bureaucrats in Asian countries thought that certain large enterprises were simply too important to go bankrupt, no matter how miserable their performance. The resulting unemployment would be unacceptable, the impact on the financial sector and economic growth too great. That, in effect, is the same argument being used today by supporters of a government rescue...
...airline business. Eye-watering fuel prices in the first half of the year and the onset of a global slump in the second will mean a $5 billion loss for the industry this year, according to the International Air Transport Association (IATA). More than 30 carriers from Hong Kong to the U.S. have gone under in 2008. Desperate to trim costs and bolster revenues, carriers are turning to mergers to survive, and nowhere is that happening more than in Europe. "The name of the game," says Geoff van Klaveren, an airlines analyst at Exane BNP Paribas in London, "is consolidation...
...challenge the government for whom he has too often been the smiling glad-hander. In defining the ideal attributes of China's future leaders, TIME's purpose should not be to buff the sheen of uncontroversial celebrities, but celebrate the struggle of real heroes in China. Penny Pong, Hong Kong...
...least 39 signatories in Beijing, Shanghai and eight provinces have been questioned, trailed or had their movements restricted by police, says the Chinese Human Rights Defenders, an activist group. "This is a big thing, if only measuring by the reaction of the authorities," says Nicholas Bequelin, a Hong Kong-based researcher for the group Human Rights Watch. "One thing the [Communist] Party is very worried about is to have the loyalty of the intellectuals and the academics...