An enclave of unbridled capitalism thinks again
IT HAS been mooted since 1932, but Hong Kong has never had a minimum wage. It soon will, however. In July a law was passed. And on August 30th, after endless meetings, an official commission agreed to recommend what the minimum hourly wage should be. That figure was not disclosed, but leaks suggest it will be HK$28-29 ($3.60-3.70).
That is halfway between what labour groups demanded and what business groups reluctantly suggested. It will please no one: the territory’s largest labour organisations vowed to fight for at least HK$33, plus annual increases. Prices are rising and wage grumbles are rife. Bus workers briefly went on strike in August. …