Hot air floats technology 'bubble'

Heated arguments raged at the preliminary round of the Inter Post-Secondary College Debate Competition 2000 jointly organised by RTHK and the Hong Kong Federation of Students.

The motion being debated was: Does the technology 'bubble' help boost Hong Kong's economy? Current affairs commentators, Wong Yuk-man and Claudia Mo Man-ching, were invited as captains of the for and against teams respectively.

Mr Wong, representatives from the University of Hong Kong (HKU) and representatives from the Hong Kong Baptist University (HKBU) were on the affirmative side; while Ms Mo, representatives from the Chinese University of Hong Kong (CUHK) and representatives from the City University of Hong Kong (CityU) were against the motion.

Ms Mo said a 'bubble' was a concept that was not backed by a solid business plan. People were risking their money if they only followed the crowd and did not analyse the situation for themselves. The investment fad would exacerbate the uneven distribution of wealth, she said.

Mr Wong countered by saying that the 21st century was an age of knowledge. In a technological era, we could not go against world trends.

He said there was always opposition when a new industry was establishing itself.

Technology was not a bubble, he said. 'On the contrary, it is a business which can make a lot of money.' Nothing can be developed unless you raise enough capital, he said.

Mr Wong's team won the mock debate 6:5.

HKU's representatives Tsang Tsz-wai, and Chai Chun, both 21, were in Mr Wong's team. Ms Tsang, a second year student of Economic and Finance, said it was a rare opportunity to team up with Mr Wong.

'He is a good debater,' she said.

'He is humorous and his arguments are very strong.' In the semi-finals of the competition held on March 12, HKU won first prize while HKBU was first runner-up.