Wound Up - 20100915

According to a survey conducted by PolyU, 60% of interviewees thought that MPF could not address their retirement needs. In the same survey, 40% of interviewees agreed to decompose the MPF system. Columnist Jake van der Kamp suggested that MPFA should be wound up.

Though just a kind of rhetorics, as Jake acknowledged himself that the action of winding up MPFA would never be happened, the idea itself is not without legal backup.

There are so many methods to wind up a company. The most common way is by bankruptcy. However, there are many other less-well-known means to do so. For example, a special resolution to support the liquidation would suffice. Thus, if MPFA is a privately owned company, and over 75% of its shareholders, virtually equal to every employees in Hong Kong, voted for the decision in the meeting, MPFA could be wound up legally and legitimately. And according to the survey findings, the chance of writing off MPFA is not small, if it is a company.

So that's the difference between Chinese and Westerners. For Chinese, we could slur at others so comfortably, even in the media. The exchange on "sub-sovereignty" is a typical demonstration. For Westerners, they are rational animals, and would normally argue base on logic. Like Jake's opinion, though ridiculous by intuition, is solidly supported by reason.