Lots of interesting stuff here.
Well, that's news to the millions of us living in Kowlloon and the New Territories.
Semantics, semantics. I was referring to the size of the domestic market relative to foreign markets for businesses. There are more opportunities to do business with foreigners than with the domestic market.
I don't actually know what the percentages are (in international trade) but I am certain this description doesn't fit the vast majority of people living in HK.
I am not interested in the "vast majority" of the sheeple and if you're reading this forum, you're not either. If you can afford to spend what some people in China make in a month on just an hour (or less) of entertainment, then you are not in the "vast majority" of people.
Nobody in their right mind would come to HK to retire - it's way too expensive - people leave when they retire, unless they have family here. I've no idea what that means. Financial gobbledegook by the sound of it. I assume your talking about Australian dollars or Canadian dollars - anything but USdollars.
Since you have "no idea" what an undervalued currency is, I take it you are probably not retired. If you were to take the exact same amount of money in terms of US Dollars, these equivalent amounts of money will buy different amounts of equivalent goods/services in different countries. For example, per The Economist magazine, a Big Mac costs $3.41 USD in the USA, $1.99 British Pounds = $4.01 USD in Britain, and $12 HKD = $1.54 USD in HK. A Big Mac is made of rent, labor, energy, veggies, bread, cheese, and meat. You can buy twice as many Big Macs in HK than in the USA or GBR. Therefore, it is a very accurate measure of prices in an economy as a whole. Out of all 1st world cities, Hong Kong is the least expensive. Yes, housing is expensive in Hong Kong, but it is equally or more expensive in other 1st world cities such as New York City or London.
I have a live-in maid in HK. This costs me just $700 USD per month. A live-in maid would cost me $30,000 USD per year in the USA. I have a friend that is embarrassed to have a live-in maid since he brings SP/SW to his flat all the time. I loan him my maid once a week for cleaning and he loans me his chauffered Mercedes in exchange. I take the MTR everywhere so I never have to drive. I don't even carry my own shopping bags. The chauffeur or maid carries my bags for me. If I were to live a lifestyle free from driving, cooking, carrying shopping bags and cleaning in the USA, it would cost much more money. I would not be able to afford it.
Some fellow brothers here suggested that other Asian cities are less expensive. However, other Asian cities (except for Japan, Singapore, and Hong Kong) are 3rd world rat holes. I did not work hard all my life to live in a 3rd world rat hole like Bangkok or HCM city. The traffic in Bangkok was so bad I had to take a chopper to get somewhere in a hurry. Now, that's expensive! HCM city makes Bangkok look good! You have to say a prayer before crossing the street there!
Who the hell wants a HK passport? All the locals want a foreign passport. And you don't need a HK passport to be eligible for the [almost] free health care - you just need to be a permanent resident. I tried the government health care with my bad knee - they made an appointment with a specialist - dated one year later. Since I can't work without 2 good knees I went private and had the operation within 1-week. Excellent treatment, but very, very expensive. Next time, I'll go to India for the operation. Don't come unless you have great health insurance.
HK has socialized medicine. Your bad knee is not life threatening. That's why you had to wait so long for treatment with the free health care. You can only depend on socialized medicine for emergency medical care, nothing more. If it doesn't require an ambulance, they're not going to treat you. Emergency medical insurance only in the US, costs $600 USD a month. This is free in Hong Kong. Most minor illnesses, I can treat myself. Hong Kong is the city with the highest life expectancy, probably due (in part) to the excellent free health care.
drjoker - I hope your business is not advising people about HK because I don't think you know what you're talking about. Do you even live here?
Yes, I am retired in HK.
clitty is correct - the best way to come to HK is on an expat contract. Except for the ... "plenty of cheap labour to exploit". That's China bro - not Hong Kong.
China is cheap, crappy, unthinking labor. Hong Kong is cheap yet educated and dedicated labor. All my friends are either retired or run international trade corporations in Hong Kong. Their IT and marketing are in HK. However, the manufacturing is in China.
America taxes based on citizenship, so I still pay taxes. However, most EU countries tax based on residency. My European friends have not paid a dime in taxes for years.
Finally, Hong Kong is also very safe. It has the lowest murder rate in the world of any major city.
Hong Kong is heaven for retirees and businessmen. It is hell for workers because YOU will be the cheap, educated and dedicated labor. Maybe if you get transferred to HK with a British or American size salary..., otherwise, stay away from HK if you're a worker bee.
The Economist:
http://www.economist.com/finance/displaystory.cfm?story_id=9448015
Life Expectancy:
http://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy
Murder Rates:
http://www.nationmaster.com/red/graph/cri_mur_percap-crime-murders-per-capita&int=-1