Post-Dragon Bliss

Sooo... anyone catch the answer to the riddle in last week's Economist? China's economic slow down is actually due mostly to its over-reliance on exports and its immature domestic market for its own goods as opposed to a huge blow from the West's financial crisis. Liquidity in China means something very different from what it does in the Anglo world in the sense that banks in China are state-owned and controlled to the point that all non-private firms have direct lines to loans on almost fluid "terms" and access to cash is not a matter of banking finances as much as it is a matter of Party connections and policy flavor of the day. Considering our stimulus is being funded in large part from cash drawn from Chinese banks, cash is not their problem any way.

But enough about what I learned in HKUST's "Doing Business in China" class last week, and on to more important topics:
Hong Kong's crumpet... is AWESOME. If you happen to be in Hong Kong, and find a "bakery" you'll notice that what they serve is definitely baked and wheat-derived. However, the goods will be markedly different from what you'd expect. Half the goods will be filled with meat (usually sweet) and a significant portion with red bean paste. This is all very tasty, but could hardly be a crumpet. What I decided was a crumpet was a confection called "coconut and pineapple bun" which is basically a bavarian cream donut from Dunkin but maybe a third the price. And oh baby is it good.


Now to try to connect this to my blog. The British "handed" over what is today greater Hong Kong in 1997 after the previously-agreed upon deadline to hand the New Territories towns to the PRC seemed like as good a time as any for Thatcher to just give it all back. Hong Kong was granted Special area status by the PRC and was allowed to maintain its existing democratic government and laws for 50 years by the PRC. According to a local friend, the PRC stays very removed, but does approve the mayor and presumably a few other higher officials that the populous votes in to office - what "approves" means is unclear to me. Signs of British colonization are everywhere in the double-decker buses, wrong side driving, bi-lingual signs and tan expats. Hong Kongers dress and look as trendy Westerners in any major city do, and any international food, good or service can be procured in HK. The most striking wonders are the natural beauty of HK which is really tropical, lush volcanic rolling hills dropping into the ocean, and the underground metro system which is incredible.
As for HKUST - the dorms suck, but that school looks like something out of a Malibu dream, and the classes were really great - so thanks to Duke, Joe, Air France, my Visa card, and HKUST for making it all happen.