Thursday, March 4, 2010

Lion Rock March Newsletter

The Lion Rock’s Roar

Budget 2010

On Feb 24, Financial Secretary and Lion Rock favourite, John Tsang delivered the
2010 Budget.  And while Hong Kong (World #19, Regional #5) couldn’t beat Singapore (World #8, Regional #2) in this year’s International Property Rights Index (now available free from The Lion Rock Institute, just ask!), Tsang’s Budget certainly shone a better light on HK for economic freedom and good government practice than our competitor’s.

We were pleased Tsang did not revive the Home Ownership Scheme, instead focusing on skyrocketing luxury flat prices, as well as the importance of developing HK’s position as a hub for Financial Services talent and business.  For Lion Rock’s release, click here.

Provisional Minimum Wage Committee
Peter Wong appeared before the Committee to “discuss”
the minimum wage legislation.  Upon ascertaining that the Committee wasn’t answering any questions (but was more than happy to listen), Peter outlined how a minimum wage and the currency peg will severely hinder HK’s competitiveness, almost certainly leading to jobs lost. 

This consensus was acknowledged by all involved, but listening can only go so far until someone actually gets hurt.

Aside from giving talks at the HK Institute of Education and Buddhist Wong Fung Ling Secondary School, Peter also wrote articles in the HK Economic Journal on the Urban Renewal Authority, the cost of the European Union, doctors advertising, and the environment.


Tobacco Tax

Nicole Alpert was a guest on RTHK radio’s Backchat, debating Tobacco Tax with Dr. Judith McKay of the Asian Consultancy on Tobacco Control.  As they say, “Hell hath no fury”, and these two definitely debated passionately.


Lion Rock Media

Andrew Shuen appeared twice on RTHK radio discussing the Greek crisis and a shift in US economic policy.

Andrew also made his regular appearances on i-cable’s Money Café, discussing US economic growth, advice on how to avoid inheritance disputes (better late than never, right?), changes in global temperature, the crisis in Greece, joss stick predictions from Che Kung Temple, the Hang Seng Index, and the 2010 Budget.

Simon Lee, also appeared on Money Café, discussing the impact tablet PC’s like Mac’s Ipad and Amazon’s Kindle have on the computer industry.

 In the daily free newspaper, AM730, Andrew wrote articles on public worries, HK finance besting New York and London, and a proposal to introduce a rental voucher, which was discussed at length during our February Happy Hour where we discussed the Budget and land policy.  Many thanks to those who attended, we look forward to exchanging ideas in future Happy Hours!

We would like to extend our thanks and the best of luck to our intern Hawkins Chin for providing us with the best news updates, writing, and company for the past two months.  Good luck with your PhD applications in Australia and we wish you the best!

 What You Might Have Missed

Former Microsoft Vice-president, Dick Brass, takes a look at Microsoft’s creative destruction and future
.  (Article)


Dan Boaz of Cato takes a look at Ayn Rand’s recent and rising popularity.  (Article)


Econtalk podast discuss Hayek’s ideas on the business cycle and money.  Rap concludes the show. (Podcast)


The China Global Investment Tracker – created by The Heritage Foundation, is the only publicly available dataset of large worldwide Chinese investments and contracts beyong Treasury bonds.


“The Chemist’s War” – The story of how the US government poisoned alcohol during the Prohibition.  (Article)


“Four Ways to Fix a Broken Legal System” – prominent author and lawyer, Philip Howard at TED.  (Video)


 “Human beings need to be protected from one another, hence we have the rule of law, but we also need to be protected against governments." - Lord Richard Harries on Fora TV examining the question, “Are Human Rights Fundamental to Democracy?”.  (Video)


“The Riddle of Experience vs. Memory” – Nobel Economics Prize winner for pioneering Behavioral Economics, Daniel Kahneman, discusses happiness.  (Video)

Looking Forward

Heroic Misadventures by Ron Manners Book Launch

On Monday, March 29th, Lion Rock will be co-hosting the HK book launch of Ron Manners’ new book, Heroic Misadventures

Location: Club Lusitano, 24/F,
16 Ice House Street, Central
Time: 12:00 - Reception
               12:30 - Lunch
Price: $390 Lion Rock Supporters
              $490 Non-Lion Rock Supporters

To book your place, register online here, call Mike Ying at 3596-8104, or email


Happy Hour – Land Policy

This month’s Happy Hour will take place on Thursday, March 25, from 6:30-8:30pm in the backroom of the HK Brewhouse (33 Wyndham Street).  The topic for this month will be Land Policy.  Please come and voice what you like or would like to see changed concerning Land Policy and share your ideas with Lion Rock’s scholars.


Media & Articles

Television & Radio
Backchat: More Tobacco Tax?-Nicole Alpert, 2/4
左右紅藍綠-希臘財困-Andrew Shuen, 2/4
左右紅藍綠-美國經濟政策轉向-Andrew Shuen, 2/5

美國經濟增長令人喜出望外-Andrew Shuen, 2/1
平板電腦能否成電腦界新寵-Simon Lee, 2/1
妥善遺產安排免後人爭拗-Andrew Shuen, 2/3
世界溫度變化越見明顯-Andrew Shuen, 2/10
希臘透過低匯率進行掉期-Andrew Shuen, 2/17
車公廟求籤啟示錄-Andrew Shuen, 2/22
恆指故障與系統升級關係-Andrew Shuen, 2/23
撐政府推租金券!-Andrew Shuen, 2/24
孫柏文談論財政預算案-Andrew Shuen, 2/24

The Lion Rock Institute's Response to Budget 2010

你會擔心嗎-Andrew Shuen, 2/1
點解香港勝紐倫-Andrew Shuen, 2/3
撐政府推租金券!-Andrew Shuen, 2//24

HK Economic Journal
市建局願吐出口中的肥肉嗎?-Peter Wong, 2/3
歐盟合縱的代價-Peter Wong, 2/10
放寬醫生賣廣告利多於弊-Peter Wong, 2/17
四體不勤五穀不分的地球朋友-Peter Wong, 2/24


Lion Rock Online


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