What makes hong kong so exhilarating

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These are three of the most famous tailors, with lofty prices to match. Based on shelves and shelves of orders from around the world — kept in scrapbooks since the beginning — this two-man shop is distinguished among the distinguished, the late Supreme Court Justice Antonin Scalia among them.

Having started out as apprentices in the s, brothers Johnny and Bonny Yuen wear their dedication to the craft on their sleeves. That might be considered a bargain for portly blokes as the brothers are wizards with wool. Browse on the street, buy in Shenzhen: Sadly, the once-awesome street markets of Hong Kong and nearby neighborhoods are in decline. Two of the most popular — the daytime Stanley Market on the South Coast and Temple Street Night Market in Kowloon — have gone down in size, selection and fun, and the merchants now seem to be either apathetic or downright testy if one bargains too much.

Take the MTR or the more relaxing ferry to any of a number of bustling shopping areas ready to test your patience and haggling skills. Hong Kong Tourism Board: discoverhongkong. Hong Kong Disneyland: hongkongdisneyland.

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Travel A road trip in Burgundy reveals far more than fine wine. Travel My Hometown In L. Subscriber Exclusive Content. As with other areas of life in Hong Kong, there are a few customs to be aware of when it comes to eating and drinking. In Hong Kong culture, the tradition of drinking tea is a ceremony in itself.

Tea drinking is a relaxed affair and you tend not to see people rushing around with take away cups of tea in Hong Kong. If you want to learn more about tea culture in Hong Kong, you can sign up to a workshop or a tea tasting day for expats.

Eating is a very social event and food is often served in a communal style with many different dishes placed in the middle of table. Chopsticks are standard fare in most Hong Kong restaurants, so learning how to use them is considered a nice, if not essential gesture. Remember to always lay them evenly on your chopstick holders.

As you would expect in Hong Kong, business meetings are formal affairs and should be arranged in advance. The most senior person tends to be introduced first and will typically lead the meeting. On the other hand, there may be the occasional silence — respect this and do not try to fill the pauses. Before the Covid pandemic, business cards used to be a big deal in Hong Kong.

When you hand out or receive a business card, it should be with both hands. You should also take the time to study the card carefully before putting it away safely. When you become an expat in Hong Kong you will soon become aware of two important cultural traditions : Fengu Shui and Chinese medicine. Both are ways of life for people in Hong Kong.

And while you have heard of them, there a lot more to learn about these fascinating traditions. Many Hong Kong skyscrapers have applied Feng Shui principles. It can be fun to incorporate aspects of the Feng Shui tradition into your expat life in Hong Kong. Include lots of green plants when decorating your home or office, and place art and other objects in prominent positions to spark positive emotions. Chinese medicine is another important part of the culture in Hong Kong.

It is about ancient potions that encompass centuries of tradition. Chinese medicine is an integral part of life for local residents in Hong Kong who value it for treating medical issues and maintaining health and well-being. In fact, in Hong Kong, more than a fifth of all medical consultations are made with practitioners of Chinese medicine.

Life in Hong Kong can be a lively and multi-sensory experience. Many expats describe it as fast-paced, noisy and exciting. In 20 years after its taking off, Shanghai grew at a fantastic pace and Hong Kong felt unprecedented pressure. Yet, it is better for Hong Kong to respond positively than passively to this new, exciting challenge presented by the re-rise of Shanghai.

Historically, the fall of Shanghai implies the rise of Hong Kong; but in the future, the re-rise of Shanghai need not to spell the demise of Hong Kong.

A sensible opinion is that given the larger economic size and the smaller population of Hong Kong than its Shanghai counterparts, it is certain that Shanghai cannot surpass Hong Kong in terms of real GDP per capita in the near future. Presently, we see no possibility of a successful, quick catching-up by Shanghai unless Hong Kong plunges into a prolonged, deep recession like Japan.

It is too early to seriously predict the long run relative prospects of the two economies, since prediction for a long horizon becomes extremely unreliable under great uncertainty.

Let us look at future prospects in about 20 years. The time needed to catch up will be longer if Hong Kong economy grows faster. More importantly, Shanghai is subject to a constantly flowing population that adds to its large population of permanent residents.

Financial Research Letters, 21 Few financial practitioners and bank employees in the mainland know much about financial innovations, modern derivatives or asset securitization. In recent years, some factor costs e. Experts point out that Shanghai cannot be expected to catch up with Hong Kong in at least 10 years. In fact, the central and local governments are planning to complete the rebuilding of Shanghai as an international finance center in 15 to 20 years Wang et al.

International Review of Financial Analysis, 40 1 : Until the RMB becomes fully convertible, which may take one or two decades, China will need Hong Kong to tap international finance.

The economic relationship between Hong Kong and Shanghai is affected by their geographically non-overlapping hinterlands and by the large difference in their economic structures, which are difficult to change.

The relations between Hong Kong and Shanghai are largely complementary rather than substitutable, with more or less competition in their structural adjustments. This put Hong Kong in an ideal position to benefit from structural shifts going on in the neighboring mainland. Hong Kong is most suitable for meeting this high consumption demand of newly moneyed mainlanders. Emphasis has been shifted to technology-intensive or high-tech industries since the reform.

Although it promoted its tertiary sector intentionally over the past two decades, Shanghai has not ignored the growth of its secondary sector. The contribution of the tertiary sector to Shanghai output growth was Journal of Business Research, 67 2 : Thus, unlike Hong Kong, Shanghai does not rely on services alone for growth.

Such a big difference in economic structure implies that there will be no direct competition between the two cities. Given high factor costs in Hong Kong, it may lose its competitiveness to Shanghai unless it speeds up integration with the thriving PRD.

Focus on Geography, 53 2 : Shanghai and its hinterland have now become a hot new favorite for Taiwan investors, and about , Taiwanese live and work in the Greater Shanghai. Li et al. Tourism Management, 36 3 : Once direct cross-strait links are permitted, regional competition will be rising as Taiwan investors continue to shift northwards. The PRD and the YRD are non-overlapping geographical regions, so that the role played by each city for its own hinterland is not substitutable.

Cities, Currently, competition between the two deltas is not strong due to their differing economic structures. Habitat International, 44 1 : Such cross-region difference and within-region similarity would mitigate competition between the two areas and leave more room for complementarity. Probably, complementarity would dominate competition. Both cities can cooperate to extract complementary benefits since what is weak in Hong Kong is what is strong in Shanghai and vice versa; this is the source of complementary efficiency.

Hong Kong may assist Shanghai in the development of its financial sector while Shanghai can help Hong Kong in its effort to modernize manufacturing. The result from doing so will be a substantial rise in the combined competitiveness of both cities. To accomplish this requires strong inter-government coordination.

The development of large-scale modern industry in Hong Kong rests on right approaches taken by its government with great vision and strong determination. In this regard, the mainland and Hong Kong have quite different traditions. The mainland governments local and central are good at resorting to administrative measures to undertake large projects; the results, whether good or bad, are quick and significant.

The consequent outcome is that Hong Kong has seen a swelling tertiary sector and a set of light industries with numerous small factories. The Korean policymakers intensively and even forcefully employed various incentives and disincentives to affect industrial activity. International Review of Financial Analysis, 36 4 : Five years ago, Hong Kong and a few neighboring local governments declared to upgrade their industrial structures.

Technological progress is becoming an increasingly important determinant of economic growth. Cities, 39 2 : To ensure long run growth with fewer bubbles, Hong Kong may have to be determined to develop certain modern industries, even with a shortage of talent, a limited accumulation of technology, and a weak industrial foundation. Shanghai and other local governments will stand ready for help.

They wonder why to force it to pursue modern industries beyond its ability, why not to make good use of the existing service advantage for growth, and whether a service economy is necessarily easy to hollow out or inferior to more diversified economies. We conjecture that these questions also reflect the realistic though short-sighted production mentality of Hong Kong political leaders. It is worth elaborating on this mentality.

In fact, many economies are dominated by services rather than by manufacturing.