The Biggest Challenge Ahead

The Newsweek October 1st, 2007 edition featured an interview article with Anson Chan on Hong Kong affairs. A question leapt out at me in particular, echoing a situation eerily similar to what we are facing now:





What is the biggest challenge ahead?





"The growing income disparity. More and more people seems to be falling to the very bottom, from where they see no means of escaping. It is unlike in the 1950s and '60s, when most people assumed that if you just worked hard you could move up the social ladder. In terms of social stability, it's not a good phenomenon."

-Anson Chan

Several thoughts crossed my mind:

1. 
   
   
   When we adopt developmental policies, are we unwittingly importing the problems that come with it as well?



2. 
   
   
   An income disparity problem has long been associate with a fast developing economy model. Are we doing enough to address this issue?



3. 
   
   
   Social instability in this instance will refers to crime and other undesirable activities. That in it-self is a vicious cycle that will cause society to spiral into ruin eventually. A stronger home team to deal with it all when it happens?



4. 
   
   
   Social stability in this instance, can also be used to address working sentiments. If one were to think that quality of work has no impact on proper quality remunerations eg. promotion and wages, would one still be willing to work hard? The economy will suffer in the long run if that is the case.


5. 
   
   When we talk about moving up the social ladder. We are really referring to higher pay aren't we? I read in the newspaper that there are instances of crane boom operators earning up to $8K a month. If this keeps on, they will soon be driving continental cars, but does this means that they have moved up the social ladder?
   
6. 
   
   What can be done to correct this perception? Higher pay? Not always possible due to market forces. Minimum wages labour law? This will erode competitiveness. Job scope reclassification so that more managerial appointment be created? Too much generalisation will equate to white elephant appointment. So what can be done exactly?

I need answers.

"Over and Out"