Friday, 16 January 2015

Desperately Seeking Young FOBs

Hong Kong apparently needs even more people to keep it going...
The Hong Kong government is looking to second generation overseas Hong Kong people to come back to the city to work to solve the aging demographic and lack of skilled labour.

However, do they want to come despite the pollution, crowded environment and not to mention soaring rents and property prices?

Chief Executive Leung Chun-ying talked about a pilot scheme in his policy address on Wednesday, where children born to permanent Hong Kong residents who have emigrated, can apply for a one-year visa to look for jobs here. Applicants need to be aged 18-40, have a university degree, and prove they can afford to live in the city.

However, last year about 3,000 second-generation overseas Hong Kong people had their applications rejected for identity cards, and this is the exact demographic the government is now targeting.

This lack of foresight isn't going to help the situation, and the government is hardly making the city enticing when it blames young people for taking part in the Umbrella Movement last year.

Or maybe the Leung administration thinks the calibre of young people they are looking for either a) have no clue what is going on politically, socially and economically in the city or b) they would be too well educated to even participate in civil disobedience.

But when you are inviting second generation Hong Kong people to the city, it doesn't necessarily mean they can read, write or speak Cantonese. But seems like Leung is overlooking the language part as long as they are literate in English...

There could be people who was to make a go of starting out their careers here, though entry-level jobs here hardly pay enough to cover rent. And do we need more ABCs and CBCs who are loud-mouthed and pissed drink in Lan Kwai Fong?

But there could also be bankers keen on making even more money in Hong Kong, but those practicing law, medicine and dentistry could have a hard time getting licensed here without writing those exams that are almost impossible to pass -- or can the government help them bypass the system?

Now that would be a big selling point for more young professionals to come here.

Have you thought of that, CY?




4 comments:

  1. This little scheme by the P.O.S of CY is unlikely to gain traction given a) pollution b) low quality of life c) crummy wages compared especially targeting those ABC/CBCs.

    any professionals could make 6 figures USD/CAD annually easily in North America, even for those newly minted...most of these professionals makes mid-hi 5 figures while in training...NOT including benefits, bonuses, or those wokring for themselves...

    You will have a hard time finding newly minted professionals taking a 25-40% paycut caught living in these HK rabbit holes and crummy quality of life...(exception: those living in NYC) On top of that, most of these professionals are likely have families and kids already...

    CY Leung better off using his time fighting for HK independence.

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    1. HI nulle -- Yep you're right about that! Though come to think of it the low tax rate might tempt some people, but as you say the environment does not make for good quality of life...

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  2. okay, the low tax rate may be attractive...however, the FOB working in HK won't get credit for his gov't retirement benefits (nor unemployment insurance). the FOB still get taxed at home...

    so what's the point of coming to HK? more stress, poorer QOL, no benefits because HK hospitals charge full rate for these FOB, poorer job security, less likelyhood of career advancement (vs. at home)

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    1. Hi nulle -- agreed. So we'll have to see if this idea catches on... if at all...

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