Euthanasia of the middle-class

(Next Magazine, 2015/4/16, A002, Second Opinion, Bill Stacey) Euthanasia of the middle-class HSBC was once a small start-up. Early pictures from 1871 show the founding General Manager, Victor Kresser, surrounded by a small group of half a dozen western clerks. Even as late as 1928, the vital local Chinese staffs wereContinue reading>

Join TPP not AIIB

Next Magazine (2015/4/2, A002, Second Opinion, Andrew Work) Join TPP not AIIB Instead of the China-sponsored Asian Infrastructure Investment Bank (AIIB), Hong Kong should join the US-led Trans-Pacific Partnership (TPP). This is in keeping with our roots as a free port that has created, over the last century and a half,Continue reading>

Tiger by the Tail

Tiger by the Tail(2015/3/12) (Next Magazine, 2015/3/12, A002, Second Opinion, Bill Stacey) The Hong Kong Monetary Authority (HKMA) is concerned about the risks in the property market in Hong Kong. They see the sharp rise in prices owing much to the “unconventional” monetary policies and zero interest rates in the US.Continue reading>

state owned enterprises

Privatize Our SOEs

Next Magazine (2015.01.01, A002, Second Opinion, Bill Stacey) As we seek to heal the wounds of the political divide and show that “one country two systems” might have meaning, we could do worse than focus on removing more activities from the political realm. This is no more important than in theContinue reading>


Don’t Follow Argentina

Next Magazine (2014.11.27, A002, Second Opinion, Bill Stacey) A popular explanation for discontent manifested in protests for democracy is that it results from a wealth gap and rising inequality in Hong Kong. It is argued that bad policy is dictated by plutocrats that have extra votes and the government in theirContinue reading>


Vanguards in Our Streets

Next Magazine (2014.10.23, A003, Second Opinion, Bill Stacey) Hong Kong is a miracle. A rite of passage for young western bankers in Hong Kong is the junk trip to Lama with the top management from head office. Two decades ago my CEO, an accomplished head of the then biggest bank inContinue reading>