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Letters

We would do well to imitate Swiss policy
In his latest blog, Financial Secretary John Tsang Chun-wah commented on the recent Swiss National Bank's decision to remove the cap between the Swiss franc and the euro and its catastrophic consequences. He then used this to substantiate the importance of maintaining the Hong Kong dollar peg to the US dollar.
The Hong Kong dollar's history was never fixed in stone, but rather was the result of smart, adaptive policymaking. When it was introduced in 1972, the peg was fixed at HK$5.65 to US$1. The currency was subsequently floated between 1974 and 1983, after which it was then pegged at a rate of HK$7.80 to US$1.
Before being pegged to the US dollar, the Hong Kong dollar was pegged to the British pound from 1935 to 1972, as Britain was Hong Kong's main trading partner and sovereign ruler at the time. As our city evolved into a global manufacturing base, and subsequently into a global financial centre, the US dollar became the more logical and beneficial trading currency to provide citizens with stable growth and a livelihood; Hong Kong successfully adapted its financial policy.
In 1972, China's currency was neither freely tradeable, nor accepted as a global currency. This is changing fast, thanks to the People's Bank of China's efforts in developing currency swap lines and relationships with about every other major sovereign central bank in the world. Today, China is not only Hong Kong's largest trading partner, it is also "our sovereign" as Chief Executive Leung Chun-ying wrote in a recent letter to The New York Times. In time, the peg is destined to become an artefact of history when the renminbi becomes Hong Kong's currency.
Monetary policy is not about right and wrong; it is about how to best serve the community in which we live. Switzerland maintained its neutral status through two world wars, is home to world leading pharmaceutical, banking, watchmaking and industrial companies: the Swiss National Bank's recent decision will not change that.
Rather than admonish, could our government perhaps emulate the achievements of Swiss policymakers?
They have achieved a wealth gap almost half that of Hong Kong (Gini coefficient of 29 v 53 for Hong Kong), ranking Switzerland second in prosperity worldwide (according to the most recent global Legatum Survey of 142 countries), despite having fewer people who own their own homes than Hong Kong has (45 per cent v 50 per cent).
Nicolas Vong, Stanley
Two-step planfor plastic on our beaches
Plastic waste poses a huge pollution threat to Hong Kong's beaches.
However, the environmental awareness of Hongkongers is very low, and more must be done to try and raise that level.
The existence of so much plastic on our beaches would suggest that recycling facilities for plastic in Hong Kong are inadequate.
All this discarded plastic on our beaches and in the sea poses a threat to marine life. This is a pollution problem that must be dealt with.
To address this serious problem, more rubbish and recycling bins should be placed at our beaches.
So often, people discard plastic bottles and bags because there is no bin nearby.
But a lot of this rubbish comes from the mainland (Chinese-brand products), so the authorities there need to take action to reduce their pollution levels.
Marine life is part of the food chain, and we need to protect this environment.
Gigi Ng Chi-ki, Lam Tin
Bookshops fade as places to browse
So, we lose another bookshop, and the mix of opportunities shrinks as uniformity spreads through the fabric of where we shop, work and indeed spend a great deal of time.
Being a reader of speciality magazines on music and photography, I found bookshops the best bet for getting them on time and in good condition. Now I order them through an enterprising street vendor, who lets me know of their arrival via WhatsApp with a photo.
It is great, but it is no substitute for browsing as I rarely leave a bookshop without a purchase.
I do read e-books, but they do not satisfy the need to turn pages and to own something tangible and tactile.
Norman de Brackinghe, Pok Fu Lam
Raising the age of retirement aids workforce
I believe raising the retirement age in Hong Kong to 65 can ensure that the city has a large enough workforce in the future.
This policy is needed so that we can cope with the problems created by having an ageing population.
If action is not taken, these problems in our society will only get worse.
If we fail to deal with the problem of a shrinking workforce, we will lose our competitive edge and status as an international financial centre.
With people living longer, it just makes sense to raise the retirement age.
Opponents of this measure say 60 is the right age to retire and people should be allowed to relax after working for so many years. However, I think citizens should be given a choice. It should be up to them whether or not they want to keep working until they are 65.
Suki Li Yin-shan, Kwun Tong
Parents must ease up on their children
I am concerned that too many parents in Hong Kong nowadays are overprotective.
They seek to control every aspect of their children's lives. They are motivated by a desire to ensure their children do well at school and have a bright future. But their expectations of what their sons and daughters can achieve are often far too high.
I understand the motivation behind what these mothers and fathers are doing, but it is the wrong attitude.
Children must be given some freedom when it comes to planning their future. Parents should be there to offer advice and give the necessary support.
If they are overprotective, they could end up harming these young people. Helping to nurture the talent they may possess is a good thing, but they should not be forced into extracurricular activities that do not interest them.
Children need to be able to tackle and overcome problems for themselves. This will stand them in good stead for their working lives and help them to cope with the society they will live in.
Yuki Lo Lok-yu, Tseung Kwan O
Adults should be less naive about internet
There is a downside to the internet that worries me.
People talk about teenagers and young adults spending too much time on their smartphones, but this can also apply to the older generation.
Whenever my 50-year-old father comes back from work, the first thing he does is get his head down and look at his smartphone. He watches videos, chats with his friends and takes selfies. He seems to have a compulsive need to use his phone.
I do not think this is an isolated case.
What concerns me is that older people like my father may not know as much about the internet as the younger generation and may not be aware of the pitfalls. They might be a bit more gullible and believe everything they see on the web and all the information and emails that are sent to them.
They also need to recognise the importance of privacy and maintaining internet security when it comes to who can read your personal information.
All internet users, young and old, must ensure they are more careful.
When they receive a message, they must think about where and who it came from before deciding to reply.
We all have to think twice before posting any words or photos on the internet and not assume it is all harmless.
Carmen Fung, Tseung Kwan O
Politics has role to play in liberal studies
I would be opposed to the government reducing the political content from the present liberal studies syllabus in local schools.
It would be unfair to students if the government went ahead with this measure.
All citizens should be able to learn about politics, including students. Liberal studies helps them to understand more about what is happening in our society.
Officials may feel these youngsters are not mature enough to learn too much about politics and are impressionable.
However, the whole purpose of liberal studies is that it encourages students to think for themselves and essentially develop critical thinking skills. This is an important part of the maturing process. I do not think there are any other subjects in school that will enable them to acquire this political knowledge, not even Chinese history. This is why liberal studies remains so important.
If the curriculum is revised, as the government is proposing, the students will be the ultimate losers, and they will know less about important political issues in Hong Kong.
They need to be able to judge for themselves what is happening in society and form their own opinions.
Yumi Wong Sheung-yi, Tiu Keng Leng


Letters to the Editor, January 23, 2015

Hong Kong dollar's history was never fixed in stone. Photo: AFP

Opinion