Riding Out the Tsunami – Part 2 渡過金融海嘯-下卷

The global recession has come upon us and no one is spared. Stock prices around the world, having lost over half of their value since November 2007, have recovered somewhat in the past 12 months. Experts are calling it a “bear market rally” and warn of a calamitous double-dip recession.

As the news media continue to stoke recessionary fears, at some point even the most defiant among us must yield to the grim economic outlook we face. If this turn of events were God’s way of testing our faith, then by setting off the financial market dominoes at the height of globalization, He sure has succeeded in bringing the rich and the poor, the famous and the unknown, the powerful and the meek all to their knees. Locusts, boils and death of the first-born are so 2000 B.C.!

A freefall

Whatever our religious beliefs are, each one of us is trying to get through these tough times in our own way. Some choose to stay a little later in the office every night to prove themselves indispensable, while others decide to live under a self-imposed house arrest and cut all non-essential spending...

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Read the rest of this essay in HONG KONG State of Mind, available at major bookstores in Hong Kong and at Blacksmith Books.

HONG KONG State of Mind

About the Author 關於作者

Born in Hong Kong, Jason Y. Ng is a globetrotter who spent his entire adult life in Italy, the United States and Canada before returning to his birthplace to rediscover his roots. He is a lawyer, published author, and contributor to The Guardian , The South China Morning Post , Hong Kong Free Press and EJInsight . His social commentary blog As I See It and restaurant/movie review site The Real Deal have attracted a cult following in Asia and beyond. Between 2014 and 2016, he was a music critic for Time Out (HK) . Jason is the bestselling author of Umbrellas in Bloom (2016), No City for Slow Men (2013) and HONG KONG State of Mind (2010). Together, the three books form a Hong Kong trilogy that charts the city's post-colonial development. His short stories have appeared in various anthologies. Jason also co-edited and contributed to Hong Kong 20/20 (2017) and Hong Kong Noir (2019). Jason is also a social activist. He is an ambassador for Shark Savers and an o...

“As I See It” has moved to www.jasonyng.com/as-i-see-it

As I See It has a new look and a new home!! Please bookmark www.jasonyng.com/as-i-see-it for the latest articles and a better reading experience. Legacy articles will continue to be available on this page. Thank you for your support since 2008. www.jasonyng.com/as-i-see-it

Maid in Hong Kong - Part 1 女傭在港-上卷

Few symbols of colonialism are more universally recognized than the live-in maid. From the British trading post in Bombay to the cotton plantation in Mississippi, images abound of the olive-skinned domestic worker buzzing around the house, cooking, cleaning, ironing and bringing ice cold lemonade to her masters who keep grumbling about the summer heat. It is ironic that, for a city that cowered under colonial rule for a century and a half, Hong Kong should have the highest number of maids per capita in Asia. In our city of contradictions, neither a modest income nor a shoebox apartment is an obstacle for local families to hire a domestic helper and to free themselves from chores and errands. "Yes, mistress?" On any given Sunday or public holiday, migrant domestic workers carpet every inch of open space in Central and Causeway Bay. They turn parks and footbridges into camping sites with cardboard boxes as their walls and opened umbrellas as their roofs. They play...

10 Years in Hong Kong 香港十年

This past Saturday marked my 10th anniversary in Hong Kong . To be precise, it was the 10th anniversary of my repatriation to Hong Kong. I left the city in my teens as part of the diaspora which saw hundreds of thousands others fleeing from Communist rule ahead of the 1997 Handover. For nearly two decades, I moved from city to city in Europe and North America, never once returning to my birthplace in the interim. Until 2005. That summer, I turned in the keys to my Manhattan apartment, packed a suitcase, and headed east. A personal milestone My law firm agreed to transfer me from New York to their Hong Kong outpost half a world away. On my last day of work, Jon, one of the partners I worked for, called me into his office for a few words of wisdom. He told me that there was no such thing as a right or wrong decision, and that people could only make life choices based on what they knew at the time. “I assume you’ve done your due diligence,” Jon gave me wink, “in tha...

From Street to Chic, Hong Kong’s many-colored food scene 由大排檔到高檔: 香港的多元飲食文化

Known around the world as a foodie’s paradise, Hong Kong has a bounty of restaurants to satisfy every craving. Whether you are hungry for a lobster roll, Tandoori chicken or Spanish tapas, the Fragrant Harbour is certain to spoil you for choice. The numbers are staggering. Openrice, the city’s leading food directory, has more than 25,000 listings—that’s one eatery for every 300 people and one of the highest restaurants-per-capita in the world. The number of Michelin -starred restaurants reached a high of 64 in 2015, a remarkable feat for a city that’s only a little over half the size of London. Amber and Otto e Mezzo occupied two of the five top spots in Asia according to The World’s Best Restaurants , serving up exquisite French and Italian fares that tantalise even the pickiest of taste buds. Dai pai dong is ever wallet-friendly While world class international cuisine is there for the taking, it is the local food scene in Hong Kong that steals the hearts of residents a...

The City that Doesn’t Read 不看書的城市

The Hong Kong Book Fair is the city’s biggest literary event, drawing millions of visitors every July. The operative word in the preceding sentence is “visitors,” for many of them aren’t exactly readers. A good number show up to tsau yit lau (湊熱鬧) or literally, to go where the noise is. In recent years, the week-long event has taken on a theme park atmosphere. It is where bargain hunters fill up empty suitcases with discounted books, where young entrepreneurs wait all night for autographed copies only to resell them on eBay, and where barely legal – and barely dressed – teenage models promote their latest photo albums. And why not? Hong Kongers love a carnival. How many people visit a Chinese New Year flower market to actually buy flowers? Hong Kong Book Fair 2015 If books are nourishment for the soul, then the soul of our city must have gone on a diet. In Hong Kong, not enough of us read and we don’t read enough. That makes us an “aliterate” people: able to read bu...

Brexit Lessons for Hong Kong 脫歐的教訓

It was an otherwise beautiful, balmy Friday in Hong Kong, if it weren’t for the cross-Channel divorce that put the world under a dark cloud of fright and disbelief. Asia was the first to be hit by the Brexit shock wave. BBC News declared victory for the Leave vote at roughly 11:45am Hong Kong time – hours before London opened – and sent regional stock markets into a tailspin. The shares of HSBC and Standard Chartered Bank, both listed on the Hong Kong Exchange, plunged 6.5 and 9.5 per cent, respectively... It ended in divorce ________________________ This article appeared in the 29 June 2016 print edition of the South China Morning Post . Read the rest of it on SCMP.com as " After Brexit, Hong Kong voters should take a careful look at what our own localist parties are really selling localist politics ." As published in the print edition of the South China Morning Post

The Beam in Our Eye 眼中的梁木

With 59 confirmed deaths and over 500 wounded, the Las Vegas mass shooting is the deadliest one in modern American history. Places like Columbine, Aurora, Newtown, Sandy Hook, Orlando—and now Sin City—are forever associated with carnage and death tolls. They don't get it Not a week goes by in America without a horrific gun attack in a shopping mall, a school or a movie theatre.People outside the U.S. can’t fathom why the world’s wealthiest country can be in such denial over a simple fact: more guns means more gun-related deaths. But they don’t get it, don’t now? Instead, they tell us foreigners to stay out of the debate because we don’t understand what the Second Amendment means to the Land of the Free. So the anomaly continues: each time a shooting rampage shocks the nation, citizens respond with prayers and tributes for a while, but their lawmakers do nothing to change gun laws. And we—the foreigners—shake our heads in disbelief and wonder how many more innocen...

Helpers be Helped – Special Chinese New Year Double Issue 救救外傭 – 春節雙刊

The images are gruesome and the details are chilling. A woman held captive in a residence has been starved and beaten beyond recognition. Her teeth are chipped, cheekbones fractured and her limbs covered with cuts and burn marks. It sounds like the Ariel Castro kidnappings in suburban Cleveland or the Brixton Bookshop abduction in Lambeth, England – except it is not. It all happened in Tseung Kwan O, a densely populated community of high-rise residential blocks and large shopping centers. It was there 23-year-old Indonesian domestic helper Erwiana Sulistyaningsih was allegedly tortured at the hands of her Hong Kong employer for eight months. She was not paid a cent. Erwiana, before and after her eight-month stay in Hong Kong By now the story has captured the attention of the entire city – and far beyond. Not since Edward Snowden checked into the Mira Hotel last summer had so much spotlight been thrown on the not-so-Fragrant Harbour. Beneath the media frenzy and tabloid-s...

Unfit for Purpose 健身中伏

Twenty years ago, a Canadian entrepreneur walked down Lan Kwai Fong and had a Eureka moment. Eric Levine spotted an opportunity in gym-deficient Hong Kong and opened the first California Fitness on Wellington Street, a few steps away from the city’s nightlife hub. Business took off and by 2008 the brand had flourished into two dozen health clubs across Asia. There was even talk about taking the company public on the Hong Kong Exchange. Then things started to go south. The chain was sold, broken up and resold a few times over. Actor Jackie Chan got involved and exited. The Wellington Street flagship was evicted and shoved into an office building on the fringe of Central, while key locations in Causeway Bay and Wanchai were both lost to rival gyms. What was once the largest fitness chain in Hong Kong began a slow death that preceded the actual one that stunned the city this week. It needs a corporate workout ________________________ This article appeared in the 16 July ...

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