In essence, this new scheme allows them to invest now to get cheap labour later. Within less than four or five years, the cost of your training has been offset by not paying for your housing, and from then on you are a great cost savings to them.
Yup. They started with offering cadetships to the local HK guys, and realized it worked out pretty well, so now they've figured out how to do it with guys from the West as well.
These managers are far cleverer than we give them credit for... while we are far less clever than we like to think.
Sadly, you're right. They're damn smart. We're all "bound" with a bond that is far higher than we can afford to pay off. There have been a few that decided they were not happy with life in Hong Kong and have left already, taking a severe financial hit to pay back the $1.1million hkd hanging over their heads. "Forgivable Loan" is such a misnomer.
Double Bind: A situation in which a person must choose between equally unsatisfactory alternatives; a punishing and inescapable dilemma.
double bind - definition of double bind by the Free Online Dictionary, Thesaurus and Encyclopedia.
(Funny thing is when I looked this up, the ad underneath said "Become a Pilot.")
