Hong Kong is notoriously known as the highest pays civil servants in this world. For instance, Joseph Yam made HK $ 10.3 million dollars in 2007, probably the highest pay banker in this world. Most top officials and the Hong Kong chief executive, Donald Tsang Yum-kuen are fall into the salary brackets of HK $ 3 to 5 million per year. In comparison to the top US officials average equivalent to less than HK $ 1 to 2 million dollars per year. According to Obama recently proclaimed that the average of annual income of US officials earning US $100 k (equivalent to HK $780) must be frozened their salary for at least one year.
What the other Asian countries do are as followings.
1) Singapore has slashed 19% top officials during December of 2007 and every civil servant has accepted the wage cut and became effective inmediately. Japan, Korea, Malaysia, Thailand and Vietnam are all followed the wages reduction programs, both private and public sectors.
2)Hong Kong Economic Times, South China Moring Post, and all major Chinese newspapers have slashed quite a few managerial and executives recently. The average wage cut is ranging from 6% to 20%, and quite a few even axed more salaries. Many corps and companies have axed their employees’ salaries (not necessarily overpaid) recently to meet the economic downturn globally.
Hong Kong government spokespersons, such as Donald Tsang and John Tsang keep on boasting on TV and news media that they are in the same boat with all ordinary majority peoples of Hong Kong. My ass. They don’t care about the livelihood of the many, poor senior citizens and the many unemployed. I personally think that all Hong Kong civil servants are deserved a wage cut of at least 6% and much higher for those overpaid top ranking civil servants and top officials. Obama has recently taken action against the overpaid compensation to the executives of AIG, Fannie Mai and Freddie Mac. He claimed all the money back for the Main Street Americans. Donald Tsang Yum-kuen and John Tsang have exhibited their unconcerned manner but reflecting to maintain the status quo of a fascist city of greed, selfishness, and don’t give a damn to the the poor. They don’t know to run Hong Kong for the common goal of leading to harmony among all working classes with great wages disparity. They are not even good enough to do "What Monkey sees and what Monkey does". Are there many axing salaries for protecting their companies, their countries, their cities, for the sake of meeting the slow domestic economic growth? Why Donald Tsang and John Tsang still not awake?
If your question is why HK govt havent done anything to cut their paychecks, then the answer to your question is the same as why Bush fail at reviving the economy and still get relected for 2nd term and hasnt got impeached. The top dog controls the economy and no one will dare to interfer with them fearing they can cause a collapse in the economy in any second once. It can also be said why AIG executives can get the bonuses from the bailout money and get away with it.
July 27th, 2009 at 11:40 am
what
References :
July 27th, 2009 at 12:24 pm
If your question is why HK govt havent done anything to cut their paychecks, then the answer to your question is the same as why Bush fail at reviving the economy and still get relected for 2nd term and hasnt got impeached. The top dog controls the economy and no one will dare to interfer with them fearing they can cause a collapse in the economy in any second once. It can also be said why AIG executives can get the bonuses from the bailout money and get away with it.
References :