Are Expats a Dying Breed in HK?

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  1. #1

    Are Expats a Dying Breed in HK?

    I can't help but wonder if one day in the near future the large number of expats would be a thing of the past in Hong Kong as more business get shifted to mainland and HK's relevance in the global economy shrinks. Already my company has pared down big time in HK but beefed up our office in Beijing. Many of the HK employees who were on an expat package were offered either a ticket home or stay in HK without the package, and most took the latter option (surprising to me).

    Anyone else see similar trends in your industry? I'm in retail electronics, which is extremely cut throat.


  2. #2

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    Based on anecdotal evidence only, you could be right that the shift to mainland offices could accelerate leaving a declining need for expats in HK locations.

    I hear this from clients and potential clients for our pre-employment screening services.

    Businesses will always seek to eliminate higher cost folks especially if there is not a compelling business case for their existence.


  3. #3

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    Finance isn't going to move in a hurry, China is still and will be incredibly volatile as the government sticks it's fat nose in to fuck it up.

    Technology and other skills are always is need as local education is not improving, and the market doesn't have the size to be self-sufficient.


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    Isn't Wal Mart putting their Asian HQ here? Seems like that would be an expat operation.


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    Quote Originally Posted by Sleuth:
    Isn't Wal Mart putting their Asian HQ here?
    Considering it's moved from Shenzen, they could easily move it later to Singapore or Sydney for better skills and cheaper rent.

  6. #6
    Quote Originally Posted by Sleuth:
    Isn't Wal Mart putting their Asian HQ here? Seems like that would be an expat operation.
    Perhaps logistics & operational excellence will require outside (ie non-Chinese nationals) but WM is pretty heavily staffed by locals in their SZ office. Though I do have to say that the local buyers are still quite a ways away from the expertise of their counterparts in the US or the UK...

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    as I deal with the insurance for shipping of personal possession, this year has the same amount or more expat coming in to hk as well as leaving, so I believe there will be a similar amount of expats in hk from the long term


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    MR. Moo - would you not also say the same thing for the US government?? Bear Sterns, now Fannie and Freddie.

    The BS boys are still out driving their fancy sports cars, etc and got a bail out. Only in China you say??

    Yah right.

    Welfare for the rich in America is the WH tune.

    ====

    It might be that some sectors will reduce and others will build up here with expats but will Walmart pay expat packages?

    They just might find enough willing to come for far less in future.

    Last edited by Football16; 09-09-2008 at 09:34 AM.

  9. #9
    Quote Originally Posted by Football16:

    ====

    It might be that some sectors will reduce and others will build up here with expats but will Walmart pay expat packages?

    They just might find enough willing to come for far less in future.

    Walmart does pay expat packages, as far as I know, though there are a lot more scrutiny involved and I heard the expats that are sent from Bentonville aren't rolling in cash the way some of the Brits and Aussies here seem to be enjoying.

    Speaking of willing to come for far less, I've been hearing that there's a growing trend of foreign workers going to Asia and working at near local wages...don't know if you guys have heard the same?

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    Quote Originally Posted by casualsurfer:
    Speaking of willing to come for far less, I've been hearing that there's a growing trend of foreign workers going to Asia and working at near local wages...don't know if you guys have heard the same?
    Define Foreign? Western or Asian?

    Not everybody is here for the money though its also about lifestyle etc.

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