global studies final paper
LUXY123
HongKongWealthGap.pptxHong Kong Wealth Gap
Samantha Eikenberry and Xinyu Shang
Local Context
1840s China cedes Hong Kong to the United Kingdom
1960s Lots of immigration
1997 Hong Kong returned to China
Most expensive city to live in
7.5+ million people; 1 in 5 are below poverty level
$92 billion a year on welfare
Global Context
“Free economy”; low taxes
60% are trying to leave Hong Kong which is problematic because…
Migration to other countries
Leave Hong Kong with large elderly population and a small working class population
Alter the economy
Contemporary Situation
Housing crisis
30% in public housing
Top 10% make 44 times more than the bottom 10%
Main targets: elderly people
Lowest birth rates
Solutions
New tax distribution laws
Lowering housing costs
Build more public housing
Create more job opportunities
Raise minimum wage
Improve education
The Hub
Works Cited
Economic History of Hong Kong. (n.d.). Retrieved from https://eh.net/encyclopedia/economic-history-of-hong-kong/
Hong Kong's Crazy Rich and Mega Poor. (2019, April 16). Retrieved from https://www.sbs.com.au/news/dateline/tvepisode/hong-kong-s-crazy-rich-and-mega-poor
Hong Kong's wealth gap greatest in 45 years. What can be done? (2018, October 16). Retrieved from https://www.scmp.com/news/hong-kong/society/article/2165872/why-wealth-gap-hong-kongs-disparity-between-rich-and-poor
OrangeBackground. (n.d.). Retrieved from https://www.thehubhk.org/?lang=en
李松. (n.d.). Retrieved from http://www.chinadaily.com.cn/hkedition/2018-09/14/content_36911744.htm
