Hong Kong’s 2012/13 budget

Yesterday, John Tsang, Hong Kong’s financial secretary, delivered his highly anticipated budget for 2012/13 (Hong Kong’s tax year ends at March 31). In “normal” countries you’d expect the government to announce to make another few billion of debt. But Hong Kong is not normal. The most capitalist city on earth doesn’t believe in making debts and hardly taxes its citizen. Despite that, Hong Kong regularly has a budget surplus and doesn’t know what to do with it…. Continue reading “Hong Kong’s 2012/13 budget”

The Eagle visits the Dragon – Angela in the Middle Kingdom


I came across this cartoon on Global Times, a Chinese Newspaper in English (www.globaltimes.cn). The German chancellor, Angela Merkel, together with the badly injured Euro kid is knocking at the gates of the Forbidden City in Beijing. The Forbidden City had been the center of Chinese politics for hundreds of years. Now, it is Zhongnanhai, just on the other side of the road.

This cartoon very nicely depicts the current situation. The rich, debt-ridden countries of Europe ask poor China for money. “Hold on”, you might think, “China’s poor and Europe’s rich? Isn’t it the other way round?”. Well, it really depends how you see it.


Continue reading “The Eagle visits the Dragon – Angela in the Middle Kingdom”

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