What shortage? Hong Kong builders hire mainlanders to control costs
Article Abstract:
Local Hong Kong construction laborers are angered by the government decision to raise the limit on migrant-workers hired for airport-related projects, currently at 17,000, because of a supposed labor shortage. There are 6,700 local construction workers who are unemployed and 15,300 who are underemployed because companies do not want to pay HK$13,000 per month when they could pay only HK$5,000 for a migrant worker. Hong Kong does have a minimum wage for foreign workers of HK$9,880 but it is not enforced. The limit on migrant workers is likely to be increased again in 1996.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Losing the thread: cotton shortage shakes up Asia's textile industry
Article Abstract:
Crop failures in China, India and Pakistan and fierce US competitiveness threaten much of Asia's textile industry. One of Asia's largest industries, textiles, depends heavily on cotton, the price for which rose past $1 per pound in Apr 1995 for the first time since the 1860s. The hike was caused by the boll worm and leaf-curl virus. This followed record-low prices in recent years as former Soviet republics dumped their goods on the world market. Now, China has become the world's biggest cotton importer, while America exports half of all it produces.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Final mea culpa?
Article Abstract:
Japanese leader Tomiichi Murayama's statement on Aug 15, 1995, of 'heartfelt apologies' for Japan's aggression during World War II pleased many Asian leaders but rang hollow to some groups representing victims. The apology was only slightly stronger than prior ones by other leaders, and it underscored the divisions within Japan's political parties. Those weaknesses may keep it from gaining a permanent seat on the United Nations Security Council, as well as from winning more friends throughout Asia.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Altria seeks Indonesian smokers. Altria net falls 43% on promotional costs. Altria net jumps 34% on gains from tax settlement, tobacco unit
- Abstracts: Raytheon posts strong earnings. At Bombardier, profit margins lift net. General Dynamics net soars 84% amid strength at all of its units
- Abstracts: More Hong Kong residents are allowed to travel to U.K. Macau election points up contrast with Hong Kong. Wharf reports higher profit for 1994, but result falls short of expectations
- Abstracts: Whatever happened at Barings? part two: unauthorised trading and the failure of controls. Reuter's share repurchase: stepping off a pile of cash
- Abstracts: California angels: South Korea developers leap into America. Good chemistry: Texas lures Japanese plastics firms fleeing the yen