Casual reading, occasional finds

Author: Lin Xingzhi
Publisher:
Publish Date: 2003-08-01
Features: The author, Lin Xingzhi, originally named Lin Shanmu, was born in 1940 in Chenghai, Guangdong. A renowned Hong Kong journalist, economist, political and economic commentator, and essayist, he received his education in Shantou and Cambridge, England. He worked for the Hong Kong Ming Pao Evening News and Ming Pao. In 1973, he founded the financial and economic newspaper "Xin Bao Financial News" in Hong Kong, and in 1975, he founded the "Xin Bao Financial Monthly," serving as its editor for twenty-four years. He became a leading figure in Hong Kong's cultural press. His international political and economic commentaries are scholarly and incisive, fully demonstrating the and moral courage of intellectuals. To date, he has published over seventy works and is hailed as the "Hong Kong financial and economic pen master."
Next Monday is the first international labor holiday in Hong Kong's history. On May 1, 1979, the author published an article titled "Labor Day Should Be Designated as a Public Holiday" in the "Political and Economic Short Comments." It has been over twenty-one years since then! Looking through old newspapers, I found that my views from back then have not become outdated, which only proves that I have made no progress over the years. The essence of the article is as follows—
We believe that one of the many inexplicable public holidays in Hong Kong should be replaced by a "Labor Day." Commemorating Labor Day is highly appropriate and necessary for Hong Kong, a prosperous economic region. The international labor movement has now achieved significant accomplishments. It is self-evident that communist countries have achieved "workers' dominance," and the working class has obtained the greatest spiritual satisfaction. Moreover, the interests of workers in almost all non-communist countries have also been greatly materialized, and they have received full spiritual care. For example, many large enterprises have invited worker representatives to serve as directors, and some have issued stocks to employees at "reasonable prices," making "capitalism for the masses" a reality. Even in Hong Kong, where labor laws have only recently gained attention, the welfare of the salaried class has been a concern of the authorities. Of course, Hong Kong's labor laws are still incomplete and have much room for improvement, but it is undeniable that workers are no longer subjected to the enslavement and exploitation of capitalists. Hong Kong workers have been very moderate in their attitude and methods in demanding their due benefits. Those responsible for labor movements seem to always consider the bigger picture and rarely resort to "industrial actions" that could harm economic development or social order—this is something the Hong Kong officials and business community should celebrate.
What we are most concerned about now is the civil servant unions. Since civil servants do not have to compete in the professional market, they lack any sense of urgency, and their work attitude is generally far inferior to that of employees in private institutions. However, their demands for rights and actions far exceed those of others. The expansion of the civil servant workforce is the greatest hidden worry for Hong Kong society!
Waiting by the roadside, I noticed a stack of Star Daily newspapers at the newsstand, reaching up to my waist, with a cardboard sign on top: "One dollar per copy!" I was a bit surprised and asked the vendor, only to learn that the newspaper had been priced at two dollars (a promotional price) since early November last year, but the price had not been adjusted in the past six months. Nowadays, most newspapers are sold at five dollars retail, but after deducting commissions for the general agent and distributors, the publisher only recovers less than three dollars per copy. The Star Daily sells for two dollars, meaning the publisher has no income from "paper money" because the vendor keeps the full price, which still does not cover the revenue from selling other newspapers.
Since last year, the price of newsprint has risen several times. Even if the publisher has stored newsprint at their warehouse before the price increase or ordered futures at the old price with deliveries scheduled by the paper supplier, the reality remains that newsprint is a continuously appreciating commodity. In other words, excluding ink and printing costs, the price of each sheet of newsprint should be between 18 and 20 cents (about one pound of unprinted newsprint contains fifteen sheets). The Star Daily is a newspaper akin to an encyclopedia of news (except it lacks a section on prostitution). With thirty copies printed, the direct costs alone are already at the five-dollar level. Now, it is being "given away for free," plus the content and administrative expenses, making the costs considerable. As for whether it can sell more without profit to attract advertising—increasing additional advertising fees to offset the losses from "giving it away for free"—I believe it will only