2015年11月16日星期一

Revisit to previous email to HKSARG: Re: Fw: Proposal RE: "9+2"

Revisit to previous email to HKSARG:

To: annageor
Sent: Wednesday, May 05, 2004 2:10 PM
Subject: Re: Fw: Proposal RE: "9+2"


Dear George,

Many thanks for your note and would be very pleased to share with you on this subject again. I'll arrange  a mutually convenient time in due course.

Regards,

TK LEE
05/05/2004 13:28
       
              To:        "Lee TK" <tklee@cpu.gov.hk>
              cc:        "Lam K.K." <kklam@cpu.gov.hk>
"Lau SK" <siukailau@cpu.gov.hk>
              Subject:        Fw: Proposal RE: "9+2"



Dear TK,
 
Attached herewith a file on "Global Restructuring" from Stephen Roach, Beijing's good friend & M.D., Chief Economist of Morgan Stanley Dean Witter, who explains what actually happens when an economy changes structurally . He compares experiences of different countries and at the end he mentioned the influence on China and the Chinese economists.
 
Actually, during the past 8-10 years, HK 's experiencing such change. The downturn of the economy caused by such change and other international issues're out of HKSAR govt.'s control. Strong as the States, Germany & Japan, they all had and still have experience on their recessions. That's the point I think we need to have someone well-accepted to voice out and re-establish the Govt.'s image.
 
Furthermore, once the rate-hikes commence, the interest on the U.S.country-wide debts would be higher and higher and sooner than expected, will drag or halt its economy. So it's much better for China/HK to pick up asap before our export-oriented/led growth decelerate.
 
Looking forward to meet you again to offer different perspective in looking at & the follow-up on some macro- and micro- socionomic issues.
 
Regards,
 
George
 
----- Original Message -----
From: annageor
To: Lee TK
Cc: Lam K.K.
Sent: Saturday, April 24, 2004 1:25 AM
Subject: Proposal RE: "9+2"

Dear TK,
 
I refer to our discussion yesterday morning in ur office and would like to summarise the major points for ur consideration, as follows:-
 
1.HKSAR Gov't have to accept there're necessary costs in order to properly commence/finish the "9+2" in order to achieve the major goals -
 
(a) successfully liaise, plan, formulate, coordinateand progress, complete all identifiable and workable projects within certain pre-determined criteria and time-frame, in priority
 
(b) to get the necessary cooperation among various regions/province/ministries in Beijing
 
(c) to get the full support of the whole SAR communities as well as neigboring communities, as the time resource is extremely limited and the extent extremely huge when comparing just to HKSAR.( approximates a EU but far backwards)
 
(d) Beijing would closely gauge HK's progress to rate our efficiency, flexibility as the overall results.
 
(e) how can we maintain free speech/democratic actions in a less confronting environment/situation. HK is still the biggest showcase for such action(s) which are our uniqueness, value and culture here ( just the same as many big international cities ) and shows the openness & ready to hear, discuss nature of Beijing central gov't.
 
(f) through the platform of CEPA & "9+2" would help the mainland in several areas such as
-creation of jobs for the ever-increasing umployment due to various reasons ;
-to tamper the problem of uneven income between rural and urbanized areas
-thru' better coordination/integration of proper work/services allocation, can lead higher disposable income thus vigorise consumer spending and also raise the % share of the service sector weighting in the total GDP.(more desired segregation of
sectors which contributes a more robust & sustainable economy)
 
(g)better counter-measures to combat inequality in benefits, opportunities and education, as well as
 
(h)the help to the SME which are considered the backbone of the economy and it's most resilient during the good & bad times.
 
 
2. Personally, I think the relationship with the :
 
- the increasingly "hot" D-Democrats, and their supporters, the general public,
 
- the confronting P-Patriotics and their supporters,
 
- the neigbouring communnities' officials and the general public there,
 
- Beijing High officials
 
- and our own SAR Government officials, should be much upgraded so that focused effort can produce the results Beijing wants.
 
 
3. I notice that quite a large no. of latest publications edited/compiled with genuine bold ideas, in the China.org.cn-Big 5 edition and many Central Govt's think-tanks, specialized bodies' publications have the necessary blue prints for the modernization/sustainable development of China .
 
All these blue prints may very much suitable to be our guidelines with specific time-frames and priorities.
Hope these may provide the platform for our projects as well as conveying the ideas to the resisting or confronting groups.
 
4. As the projects're of such a magnitude that we don't even dream of, extremely huge no. of talents, in tens of thousands or even millions from local( civil servants and private sectors), overseas, neigbouring areas, the existing intellectuals and even some opposing parties members should be included. Recognition and Respect plus sharing of responsibilties & accountabilities always work wonders.
 
Also the existing gov't staff must need to proportionately enlarge, thru' employment or outsourcing or engagement of specialized consultants.( bearing in mind the time frame, the enormous magnitude, quality and the nature of the projects)
 
5.For the kind of work to be accomplished, the total project costs and the subsequent revenues bring along, I think it warrants to be far more agressive in our budget proposal and sometimes, even deficit spending can be considered.
 
In order to get the buy-in of the Democrats/Patriotics/Neighouring regional gov't official/ the general public and even Beijing, special Commission/ Dept/ Semi-gov't bogies and so on together with Image-building and PR/HR/other specialised Consultants should be established to help release the burden from our officials.
 
6. Besides 5. a large no. of reknown mediators , who're well-received scholars, intellectuals, professionals with neutral mindsets can be invited to follow up on the buy-in of the various non-conforming parties/general public by explaining the imminent situation and urgency of the projects. Such that the responsible SAR official may have ample time in planning and dealing their (9+2) works
 
7. During this difficult time in securing necessary funding for many highly desirable infrastucture projects may slow down the overal peogress of the project. To help arragement of such not only solve their problem, yet promote HK's status as a leader and will not cause much harm to the existing mainland banking system.
 
8. Educate HK citizens to take jobs in the "9+2" for transfering of knowledge/experience that can promote our influence to those regions & their people to accept our culture, value, integrity anfd other merits.
 
When the more than 400M of the people pick up to standard and quality of living quite close to us, I think the economy will be somewhere near that of EU and thus sustained prosperity can be assured for many decades.
 
Pls let me have your comments and where & when I can be of help.
 
Regards,
 
George.

2015年11月14日星期六

CE's speech in Singapore yesterday - Update 1

From: CEO <ceo@ceo.gov.hk>
Date: 2009-12-07 11:48 GMT+08:00
Subject: Fw: CE's speech in Singapore yesterday - Update 1
To: annageor@hkbn.net

Dear George,

Thank you for your email of 1 December.

 Yours sincerely,
(Julia Hui)
 for Private Secretary to Chief Executive


----- Original Message -----
From:  George Luk
Sent:  Tuesday, December 01, 2009 3:49 PM
Subject:  Fwd: CE's speech in Singapore yesterday - Update 1

Dear all,

Would like to add more info. to the reply from CEO.   Dr. Paul B. Farrel wrote in the Marketwatch.com ( subsidiary of W. S. Journal ) on the 17tth this month :-

This is what he wrote :-


Since 2000, my columns have covered many warnings of major debt accumulation, market meltdowns, and the psychological failings of Wall Street's greedy, myopic brains. Last June we summarized 20  predictions  made between 2000 and 2007 warning of a subprime meltdown coming.

Oddly, no one seemed to be listening to all the warnings from leading minds like Buffett,  Grantham, Gross, Faber, Shilling, Roubini, Fed governors, and many more. Was that a repeat of 2000 with no one listening?

Suddenly it hit me: It's just the opposite: Everyone is listening and everybody knew a crash was coming -

- but we were in a trance, including Washington's bosses. Bernanke, Bush, Paulson, Greenspan all heardit. So did Wall Street, and Main Street.

Unfortunately America's collective brain was addicted to the adrenaline rush of gambling in a risky bull. The euphoria is intoxicating. We were caught up in a game of musical chairs, squeezing out every last dollar of return, blind to the catastrophe ahead until caught by surprise.

Unfortunately, Wall Street lacked a moral compass and stole trillions from American taxpayers. Today, the only lesson Wall Street has learned is "greed is good." Now the beginning of the end has become a moral tragedy that is setting the stage for an implosion of Wall Street, capitalism and our economy circa 2012.


Roubini also wrote in the New York Daily News.com’s opinion that :-

Think the worst is over? Wrong. Conditions in the U.S. labor markets are awful and worsening. While the official unemployment rate is already 10.2% and another 200,000 jobs were lost in October, when you include discouraged workers and partially employed workers the figure is a whopping 17.5%.
While losing 200,000 jobs per month is better than the 700,000 jobs lost in January, current job losses still average more than the per month rate of 150,000 during the last recession.
Also, remember: The last recession ended in November 2001, but job losses continued for more than a year and half until June of 2003; ditto for the 1990-91 recession……………..

Best regards,

George Luk


From: CEO <ceo@ceo.gov.hk>
Date: 2009/11/18
Subject: Re: CE's speech in Singapore yesterday
To: George Luk

Dear Mr Luk,

Thank you for your email of 14 November to the Chief Executive, sharing with us your views.
Yours sincerely,

 (Julia Hui)
 for Private Secretary to Chief Executive


----- Original Message -----
From:  George Luk
Sent: Saturday, November 14, 2009 10:52 AM
Subject: RE : CE's speech in Singapore yesterday

Dear Mr. Tsang,

I fully agree with your view on the CARRY-TRADE of the USD. Ever since the QE (quantitative easing), the actual interest rate of the dollar is even below the yen.

While the U.S./European banks haven't good confidence in lending, the excess of funds in hand has roaming around the world to look for better yield.

In this way, most asset classes are highly inflated, particularly those Asia as economic growth in the region's considered much better than at home.

But this won't be sustainable as the no-employment recovery in those developed countries won't support consumer spending. This will in turn adversely affect Greater China's export. So we have to encourage domestic spending and growth from  Lightning-Speed develoment/investment of our infrastructure.

Regards,

George Luk



Frank Partnoy and others have pointed out the catastrophic damages from structured financial instruments many years ago

---------- Forwarded message ----------
From: CEO <ceo@ceo.gov.hk>
Date: 2009-07-17 17:08 GMT+08:00
Subject: Re: Frank Partnoy and others have pointed out the catastrophic damages from structured financial instruments many years ago
To: George Luk

Dear Mr Luk,

Thank you for your email of
 17 July, sharing with us the information.

Yours sincerely,

 (Julia Hui)
 for Private Secretary to Chief Executive


----- Original Message -----
From:  George Luk
Sent: Friday, July 17, 2009 4:17 PM
Subject: Frank Partnoy and others have pointed out the catastrophic damages from structured financial instruments many years ago

Dear all,

Hope the links below might provide some background info. as how to explain/handle complaints from Lehman cases, etc, etc. Frank Partnoy ( professor of law at the University of San Diego ), Brooksley Born ( former chairperson of CFTC ) and many others  have warned the situation long beforehand but were largely ignored.





Best regards,

George Luk