Wednesday 30th September 2009

Dear Reader,

Tomorrow China celebrates 60 years of one-party authoritarian rule; oppression of free speech, debate, freedom of assembly and political opposition; and state control of the media, judiciary and most of the economy. In the second 30 years the Government has tried to make up for the disastrous economic mismanagement of the first 30, but proceeding on the erroneous assumption that they can have all the benefits of free markets without the fundamental  rights of a free society. Not a lot to celebrate really. What would the world look like if China had taken the path of civil liberties, capitalism and democratic government in 1949? That's something to ponder as the tanks roll symbolically through Tiananmen Square tomorrow, reminding us who is in charge.

Submission to HKEx on Rights Issues and Open Offers
Thanks to readers who participated in the poll. Here is our analysis of the results, which we have submitted to HKEx today.

The UURG to Purge
We look at the history of UURG (8192), currently controlled by battle-of-wills feng shui man Tony Chan Chun Chuen, and warn investors about the bubble surrounding the stock, which is trading at 191 times diluted NAV.

Webb on Social Corporate Responsibility in Exon, the magazine of Exeter College, Oxford

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