[welfare]

surprised this wasn't posted here yet.
now, i'm not an economist major, but i'm curious to see what effect, if any, this will have on china's economy. and ultimately, the world's.

Billionaire Kwok brothers arrested in Hong Kong, Sun Hung Kai Properties value plunges (http://www.vancouversun.com/news/Billionaire+Kwok+brothers+arrested+Hong+Kong+Hung+ Properties+value+plunges/6385750/story.html)

[yray]

Nothing, other than their shares tanking which already did on Friday.

[shawnly1000]

I'm curious as to why/how do you think this will affect the world economy.

[welfare]

I'm curious as to why/how do you think this will affect the world economy.

well, like i said, i'm no expert by any means, but they are asia's largest real estate developer. event's of smaller scale have been known to spark stock market crashes.
and as i understand it, again, no expert, much of the world's economy is hanging on by china. and china does follow the model for economic crash that has been seen in the past.

[Bahhbeehhaaaa]

it's nearly impossible to not participate in the corruption when a person owns that much asset, only a few knows how to spell integrity.

[Bahhbeehhaaaa]

Mmmm you know somthing.?

I'm curious as to why/how do you think this will affect the world economy.

[Matsuda]

those kwoks are always up to no good..

[jackmeister]

-Donald Tsang got shafted for getting a free boat ride from Macau to HK on Sing Tao's owner's yacht.
-Henry Tang got shafted for having an extra basement
-The Kwoks probably got shafted for outdated haircuts?

But seriously, would it even be surprising considering their prominence? They have business interests all over HK and Asia, they're guaranteed high-level access to officials, and they're super rich. It's to easy to cross the line between being nice and being bribed. I guess they're just being unlucky they got caught? or is there some other ulterior motive? Keep in mind, HK officially became part of the China communist system a week or two ago.

[welfare]

well, i think people tend to want to believe that wheels were inadequately greased. i don't think that's the case. but who really knows.

here's another interesting article. with more on what you're referring to:
Review & Outlook: Hong Kong's Property Bust - WSJ.com (http://online.wsj.com/article/SB10001424052702303816504577317072755980872.html?m od=googlenews_wsj)

[PiuYi]

i think when you have your hands in so many cookie jars its actually really DIFFICULT to remain 'uncorrupted'

the laws surrounding corruption, what can and cannot be done, are so complex when you have so many networks/business dealings that alot of the time it might not even be intentional... i'm sure when you're that wealthy, stealing for a small gain isn't even on your mind

but then again i'm just speculating, my 2c

[Verdasco]

those kwoks are always up to no good..

got into a little trouble in the neighbourhood...

[RFlush]

I wonder if the ICAC will ever go after Li Ka Shing. I hope so, that bastard.

[StylinRed]

http://img714.imageshack.us/img714/2172/icacaeunet2011.jpg

[SkinnyPupp]

Those FUCKING shows lol :facepalm:

One good thing that comes out of this is that it shows they will go after anyone, no matter how 'big deal' they are.

[chun]

Wonder if there'll be any effect to the Aspac developments here.

[GLOW]

At least they weren't arrested for hitting up DTES hookers.

[G-spec]

Communist party is cleaning house, or so they want the world to think.... their own house is dirty as shit too, but then when someone questions them they fck around and execute a person or two just to show the world they mean business....

but on another note, possible new facepalm gif in the making ? or is he just picking his nose, i cant tell


http://www.vancouversun.com/news/6386017.bin

[punkwax]

got into a little trouble in the neighbourhood...

got into one little fight...

[pastarocket]

Hmmm, should some Hong Kong billionaires be scared of their shady business dealings after the Kwoks got arrested? Time to call the lawyers up?

[GLOW]

but on another note, possible new facepalm gif in the making ?

i thought it was a facepalm at first glance too :lawl:

[CP.AR]

I won't be surprised if it affects Vancouver...

ie: ASPAC Developmens (developers of River Green, Coal Harbour) is owned by these guys

[ae101]

here what i have been told, kwok brothers goes to look at properties then get another guy to buy it so that the other guy could jack the prices up & then sun hung kai buys it

after the other guy & kwok brothers split the money evenly

now this is private info but long time ago the big brother was kidnapped & after he was release the 2 other brothers pay a famous doctor to make a report that their big bro has psychological problems after the kidnapped, which their mother believe so he was then booted out of the chairman seat

after collecting evidence he now seeks revenge period

now i know this may sound like tv drama but this is how i was told from my aunt where her husband's brothers wife works for them (in hk & vancouver)

[StylinRed]

^^^ all of the companies especially family ones have their dirty laundry

but the timing of this case is perhaps too much of a coincidence no? with HuJintaos supporters cleaning house of all of Jiang guys

especially with this case occuring just 2 days after Hu's guy winning HK

[yray]

^Hu is leaving in 6 months anyway.

The big deal about this case is that a former financial minister is involved with this, basically the highest civil servant in HK history to be "charged" with corruption. They think the minister had relationships with SHK as he was given place to live near happy valley that's worth a 100mil hkd now, of which is owned by SHK. ICAC also suspect that internal files from the gov't may have been given to SHK.

ICAC has been tight lipped about this case, so far no new information has been released but apparently this was in the works for around a year. They delayed the arrest until after the election because they don't want the whole media to say ICAC is manipulating the election and all that communist BS.

[ae101]

im sure the it was perfectly timed by there big bro for his revenge

[urban.boi]

here what i have been told, kwok brothers goes to look at properties then get another guy to buy it so that the other guy could jack the prices up & then sun hung kai buys it

Happens a lot not just with Sun Hung Kai, but many developers worldwide..even here in Vancouver :whistle:

[SkinnyPupp]

^^^ all of the companies especially family ones have their dirty laundry

but the timing of this case is perhaps too much of a coincidence no? with HuJintaos supporters cleaning house of all of Jiang guys

especially with this case occuring just 2 days after Hu's guy winning HK
This investigation probably took YEARS and was probably in place well before any candidates were even thought of. Plus the idea of the ICAC being run by the communists is like :fulloffuck:

[StylinRed]

oh im not saying that the hk elections are directly related

but the rumor mill is tying this icac case in with the in-fighting over in the mainland just as the election hubbub is being as well


as for icac being pawns yeah it does seem hilarious ;)

[SkinnyPupp]

If those rumors are remotely true, this is the kind of bald face corruption that wars are fought over... I doubt that is the case here... well it better fucken be :heckno: