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Should John Tsang, the Hong Kong Financial chief starts adequate policy to reform other than by all one offs?

Hong Kong Financial Secretary (chief/minister), John Tsang Chun-wah is being criticized by all local news papers, media and political commentators appeared in TVs. The South China Morning Post and Standards, including major Chinese presses of Hnog Kong Apple Daily News and Oriental Daily News and the others indicating his one off measures will not able to reform the current social and economic problems affecting every walk of life. There are more than two million Hong Kong citizens are currently living under the poverty line in a city of total seven millions. They are living in dim and noisy rooms in the private owned flats with minimum income and most of their incomes are spent in paying the extra high rents for worst living condition in this world. I think John Tsang must do the followings to reach the ultimate goal of reforming the messy Hong Kong society exhibites the worst poor and rich gap in Asia. 1) Axe overall overpaid civil servants' salaries by 2% for all low ranks just earning from HK$12k to to 25k per month, those making HK35k to 55k per month should cut at least 6-10% per month and all those upper ranks and all officials should cut at least 20-50% of all their overpaid salaries each month. It is recorded the first fiscal quarter of 2008 had a deficit of HK $ 800 billions (Chinese press calculated one hundred millions as one billion and the English press published as $HK 80 billions) was caused by the average salaries hike of 6% for major lower and middle civil servants and was approved by John Tsang after Donald Tsang (incumbent Hong Kong chief executive) raised his own already overpaid salary of HK $340,000 per month to the current HK $ 430,000 per month. Hong Kong middle and upper ranks civil servants are regarded as the highest paid in this world. That's why Hong Kong has the never ending social problem exhibites its gini coefficient of 0.56, too far from the norm of 0.3. The Hong Kong land sales and rental costs are described as the highest prices in this world. And the poor environment of foul air and condaminated drinking water from the idustrial waste river of Pearl River has scared many professional refused to accept jobs in Hong Kong for the sake of healthy life for their family members and themselves. 2) Hong Kong Monetary Authority (HKMA) must be downsized to the status of 50% lessen wagering monies in buy and sell foreign currencies, stock shares, bonds, funds, derivatives in monetary matters, financial leverage for local financial matters. If so, HKMA should cut back 50% of oversized staffs which are also the highest paid in this world. HKMA has recorded a net loss of HK $1008 billions in 2007.The chief of HKMA made HK $10.3 millions in 2007, exact seven times as what the top America public financial persons made for doing even more complex job description in comparison to Joseph Yam, the top man of HKMA. 3) Hong Kong must learn from China and be able compete with the mainland economic enhancement programs which has defeated our manufacturing sectors, logistics, transporation, and the Hong Kong financial centre will soon be replaced by Shanghai, Shenzen, and Beijing. They are making much lessen in comparison to the Hong Kong professionals doing the similar jobs. Many friends and I have found the root cause of the never ending social and economic problems are as the above-described. Sooner or later Hong Kong Doomsday will be in scene. As it happened to the recent Hong Kong Budget Day, John Tsang did the same or even more generous than this time as the same Hong Kong candy man. He never wants to solve the Hong Kong contemporary problems directly and completety by applying more effective tacitcs in terms of effecetive policy making to pinpoint the root causes of the current and forever problems that makes the harsh life of the many in this tiny city. Hong Kong can afford to establish an universal pension fund for the most poor senior citizens who can't even afford to buy an hamberger in Mcdonald, a congee or a dimsum in Chinese restaurants. Hong Kong citizens should against John Tsang's inadequate one off measures of not able to meet the aims and goals of all peoples. We all should have the sense of belonging, sharing, and leading to the common goal of harmony by narrow down the too wide poor and rich gap.

Public Comments

1. i wonder how many aussies are living in the gutter on the streets unemployed and under the povety line. that concerns me more than hong kong.
2. that is motto of all manager sack workers to save them selves all other to reform so that you do not have to face wrong end of stick