Hong Kongs Financial Crisis Defined In Just 3 Words “It indicates that the government wants to hold more property in Hong Kong and how they want that in the long term,” HJ my blog a columnist for the pro-democracy daily The Straits Times, said on Twitter. While there is actual property wealth in Hong Kong that can be created by the government through tax breaks, it is not a clear cut amount of financial wealth, Tsai said. A different concern is how the government will work with the Hong Kong authorities to “fix” and “force Hong Kong citizens into productive, employment-integrated new infrastructure” because it plans to spend more in its proposed new “grand economic zone.” The whole new zone will be a multi-layered smart card that will be connected with people’s mobile phones so that when people want to visit their bank accounts, that bank can use all its money to make deposits and checks. The scheme could be used to drive “financial speculation” even in countries traditionally considered foreign competitors for Hong Kong currency as China aggressively dominates central banks and in some cases has tied it up in Hong Kong’s massive black market for black money.
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The scheme is expected to also get the Hong Kong government interested in introducing the Hong Kai International Monetary Fund Group to be part of the solution, Yishan Wong, a professor at the University of Hong Kong and Hong Kong-based economist with Great Britain’s Credit Suisse Group, said in an email to The Associated Press. Feverishly, there is also speculation the schemes would end up being way too slow. In one study, the consortium asked each town or region to look at 35 residential projects that included a shopping mall or small business district, shopping squares, residences and at least 350 apartments, the study noted. They judged each project according to their infrastructure, the size of their existing infrastructure needs and the overall revenue provided by them, each region says. Even in such projects, experts worry the country certainly isn’t ready to simply move up the infrastructure pyramid and see Hong Kong become like a “big sister” to those places that have been around since then.
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The financing of these projects, as well as the government plans, would seem to be raising concern among investors, because there is clearly no actual government money in the process, they write. Chanting “Taiwan,” the crowds took to social media to protest the government’s presence on these developments and then started raising money.
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