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Is Hong Kong dying?

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  1. #1

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    Is Hong Kong dying?

    I know it can't be just me because most people I speak to see it as well, that in the past year I have seen more for lease signs, empty shops (just walking down staunton street the other day was a weird sign to see), quieter streets.
    Plus coupled with the fact that almost all the major banks are not hiring, (only essential hires), and expats seem to be leaving this city in the thousands.
    I have spoken to alot of my friends who are still here and have been looking for work for at least 4-6 months. Most of them have never had to wait longer than 2 weeks to get another offer.

    For a person who has only been here for a few years, has anyone seen it like this before? I remember SARS and the Asian Economic crisis were bad, but NOTHING compared to this.

    Is this city dying a slow death or is their hope for some excitment and job growth?


  2. #2

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    actually, they were terrible.

    hk will recover, but who knows if it will ever regain its "glorious" pre-hand-over hey-day?


  3. #3

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    I cannot see the past repeating itself. I think HK will go the way the friendly neighbourhood up north wants.


  4. #4
    fm7

    Why should a downturn in the financial sector, or an exodus of expats who work in that sector be a sign the city is dying?

    I've been here over three years and in that time there's been a lot of positive signs in terms of the local "creative" and arts community. Some bits are struggling to compete with the rest of asia (especially video and film production and advertising). But, there's more live music, more music venues, more galleries, more locally made "craft" and design, more "community" amongst media/techy types, etc.

    I don't think the city is dying, but if some aspects of it are less dominant, that might not be a bad thing - not at all.


  5. #5

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    FM7 - unfortunately this city is very much controlled by money so a downturn in the financial sector will cause a ripple.

    Expats leaving is not a bad thing at all though..


  6. #6

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    Quote Originally Posted by jamesii:
    FM7 - unfortunately this city is very much controlled by money so a downturn in the financial sector will cause a ripple.

    Expats leaving is not a bad thing at all though..
    A lot of expats leaving though is through their own choice as opposed to being displaced, I've had a lot of friends leave HK in the past few months and each through their own choice bar one.

  7. #7

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    HK is doing great. if expats don't leave then they are no longer expats.
    comparatively, US is dying a lot faster.


  8. #8

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    Expats leaving is not a bad thing at all?

    Are you talking generally, or do you mean not a bad thing for the expats remaining?


  9. #9

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    Quote Originally Posted by jimbo:
    I've had a lot of friends leave HK in the past few months and each through their own choice bar one.
    Isn't it worse if people are leaving on their own rather than being forced out? It probably means they don't think things will get better here and would rather be somewhere else.
    Last edited by ewankho; 23-09-2009 at 02:24 PM.

  10. #10

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    Quote Originally Posted by ewankho:
    Isn't it worse if people are leaving on their own rather than being forced out? It probably means they don't believe things will get better here and would rather be somewhere else.
    Ummm no as a lot of people I know only came to HK with a specific time frame in mind, Say a 1 year stint then back home with experience and money in their pockets which is no bad thing.

    Some people are here for the experience and thats it, Nothing more nothing less, Same as with myself. I plan on heading back to UK in about 18 months time myself, Not because UK is better than HK because it isn't but its because I miss my friends etc.

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