SOME NEWS FROM THE ORIENT

The rain seems to have stopped, which is a more significant statement than you might think, as it has continued to pour since I first landed. So here is a clearer view of Hong Kong Island from my room.

Oh, did I tell you that breakfast is killing me? During my five week ordeal this summer I lost eleven pounds. I gained back half of that by the time I left on this trip, but fear that I'm now back to past normal, which is five pounds too heavy. Breakfast has been free thus far, and will largely remain so for the rest of the journey. Yesterday, for example, I saw this immense buffet of a dozen fruits, twenty kinds of rolls/breads, a wide assortment of fruit drinks and an enormous salad bar. You could even make your own bloody mary. I was a bit disappointed, but nevertheless created a major salad, returned to my seat and saw that I still had to order my breakfast. There were sets for Japanese, Chinese, Oriental, American, and more. Just the Japanese meal, which I selected, would have cost $40 at the Park Hyatt Tokyo, for the salmon was just grilled and was all of at least half a pound. Today, I was wise, made a small salad and ordered an egg benedict with waffle. Well, two cholesterol filled egg benedicts came and three large waffles. I must remember to be more specific on numbers the next time.

Remember my earlier mentioning that I did not need to pay anything for meals because breakfast is extravagant, I miss lunch to maintain a semblance of body neutrality and have those appetizers for cocktail hour (three hours, actually) at the executive club? Well, last night I finally decided to go to Morton's, which is located in the building of my hotel. At the last moment, though, I decided to bring a large glass of Robert Mondavi cabernet plus bottle of Foster's into my room, then rushed out on a short one block walk for a MacDonald's quarter pounder with cheese, plus large fries..all for about $3.50. Tonight, I splurge in Seoul.

Some thoughts and a prediction from the Orient.

1. Hong Kong appears to be losing financial leadership to Shanghai. One problem is that wages are much higher in HK, so things can be accomplished more economically in Shanghai. China appears to be planning for two financial centers, and is targeting 2020 as the point of equality, when the new deep-water port close to Shanghai becomes operational. Shanghai will be hosting a major world expo next year.
2. You would think that China has been around for ten thousand years, but Communist China will on Thursday celebrate only a gala 60^th year anniversary party, directed by Zhang Yimou, the movie director who orchestrated the opening ceremony for the Beijing Olympics. There will be a cast of hundreds of thousands, with 60 floats and a parade of military arms to Tiananmen Square, 150 planes trailing colored vapors, 60,000 pigeons and a monumental fireworks show. There will be 800,000 security “volunteers”…but the people have been told to stay home and watch everything on television. For some reason, though, there seems to be a somberness to the proceedings. Almost like what is the big deal about a 60th anniversary. Well, in China when one attains 60, a new cycle of life is initiated. There is something symbolically significant about this age. A contrary point of view is provided by Foreign Policy today.
3. Friday is a big day for the Olympics sweepstakes. Tokyo is one of four finalists to gain the 2016 Summer Olympics. From all indications, new Prime Minister Yukio Hatoyama, Tokyo Governor Shintaro Ishihara, Prince Naruhito and Princess Masako, and, maybe, even, the most popular one of all, Ichiro Suzuki, might attend the decision-making event in Copenhagen, which also hosts the pivotal global warming convention in December. However, Japan’s odds are one chance in five, better than Madrid’s 1:8. The toss-up decision is between Chicago at 11:8 and Rio at 4:11. Yes, the U.S. is favored, and will probably get it if Barack Obama shows up, as he and Michelle have said, despite the tired carping of Republicans. After all, Tony Blair went to Singapore to secure London 2012 and Vladimir Putin traveled to Guatemala City for the Sochi 2014 Winter Olympics. However, there is sentiment for Brazil, as South America has never hosted any Olympics, so this would be a transformational moment for the country and continent. I predict Rio de Janeiro as the winner, partly because King Juan Carlos of Spain has pledged his votes to Brazil if his country is eliminated, and, even, French President Nicolas Sarkozy is lobbying for this underdog. Of course, President Luiz Inacio Lula da Silva of Brazil will be there for the presentation. The country will be prepared, as they host the World Cup (of soccer) in 2014.

-

The Dow Jones Industrials settled 47 to 9742, while world markets were mixed. Gold rose $2/toz to $933 and crude oil slipped below $67/barrel.

-

Ketsana slammed into Vietnam and is gaining a reputation as a killer storm, with nearly 300 deaths in the Philippines and 25 at this time in Vietnam. Tropical Storm Melor is now at 45 MPH and continues to head towards Guam. Strengthening will occur, but it is uncertain at this time if typhoon status will be attained. Tropical Storm Parma, now at 50 MPH, will become a typhoon, but most models still see it moving north and only bring some winds, waves and rain to the Philippines. There is a fourth storm, but signs are it is not a threat.

An 8.3 earthquake triggered a tsunami affecting the Pacific islands around Western Samoa. Waves as high as 20 feet were mentioned and Japan has issued a tsunami alert. It is reported that 25 people have been killed, but information is only now being received. Wait a minute, Hong Kong is about the same distance away from Samoa, and both this hotel and airport are at the sea level line. Making a quick calculation, noting that tsunamis move at the speed of sound, the tsunami should strike Hong Kong while I'm on my way to the airport...at sea level. Departure has been trying thus far, and this one could well become the most monumental. Nah, I made it to the airport lounge, where I'm having a prepared in front of you rice noodle with fish and dried scallop congee, with a bloody mary and Tsingtao. As I scan the ocean, no sign of a tsunami.

-