The Current Economic Situation

Hong Kong used to be an open port to China for trade. Ever since the China takeover in ’97, China has opened up for trade again, leav­ing Hong Kong as a mid­dle­man. Businesses have gen­er­al­ly all stopped trad­ing through Hong Kong, since it costs more to go through such a mid­dle­man. As a result, the Hong Kong econ­o­my has col­lapsed, and is now heav­i­ly depen­dent on tourism and infor­ma­tion trad­ing. That explains why I see so many com­mer­cials on vis­it­ing Hong Kong back home.

The shop­ping is great, due to the large tourism indus­try. Everything is tax free, and is gen­er­al­ly cheap­er than the equiv­a­lent from back home. I was able to find a red turtle­neck for $30 that would have cost me $60 (not includ­ing tax) in Canada. The stitch­ing is rough­ly the same qual­i­ty, and there was an imme­di­ate two-hour 50% off sale on any­thing red, so I got it for $15 instead. I also bought a Seiko Criteria Kinetic Auto Relay watch, which pow­ers itself on the move­ment of the wear­er. The auto relay func­tion auto­mat­i­cal­ly sets the date/time, which is use­ful for when the watch is tak­en off and runs out of pow­er, so that the date/time don’t need to be set again. It’s only been five days and I’ve already spent more than I thought I would the entire trip. Going into debt has nev­er been this much fun.

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