Breaking Waves
- It’s always nice to be recognized! The Federation of International Trade Associations has added Business Beyond the Reef to its “Really Useful Links For International Trade”.
Really Useful Links for International Trade
- The yellow metal has a fascination so I had to stop and stare at a chart that shows which countries consume the most gold per capita. While I might have guessed that India would be near the top of the list, I would have been badly wrong. Saudi Arabia has a substantial lead in gold consumption, followed by Hong Kong. Then come Turkey, Egypt and Italy (ever seen Flavio Briatore’s chains?), followed by the United Kingdom, the United States, Taiwan, South Korea and Russia. Then comes India – in 11th place. China is climbing quickly in 12th.
- Maybe there is some Chinese investment in Hawaii! I posted recently about the apparent lack of Chinese interest in our islands, but may have spoken too soon. One of my contacts tells me, according to the real estate grapevine, that Chinese investors have recently bought up 14 homes in Honolulu’s affluent Kahala district. This apparently follows a very quiet visit to Hawaii by a group of Chinese investors, though I can’t confirm any of it.
- Starwood reports that Chinese visitors to its hotels in Waikiki are up 700%. Welcome news, but that is from a very low base.
- Speaking of China, come see me and many better speakers, at the U.S.-Hong Kong-China Business Forum in Waikiki on Friday, May 14. Great speaker line-up, people any company can pick something up from. Check it out at www.ushkforum.org/. I understand the early bird registration price is good through May 10, but there’s no reason to delay, is there?
- The Hawaii state legislature, in its “infinite” wisdom, passed SB2840, a bill that reserves a minimum of 80% of jobs on state-financed construction projects to Hawaii residents. The aim seems to be to fix a problem that does not exist. We just don’t see many non-Hawaii construction workers flocking to our islands. Not to mention that the measure may run afoul of the WTO’s government procurement code, and is certainly a violation of national treatment principles. Governor Lingle, to her credit, vetoed the bill, but the legislature over-rode her veto Thursday. Another blow for Hawaii’s business image (or lack thereof).
