| Popis: |
The essays in this volume show that poverty, near-poverty, and inequality are multi- faceted conditions. They have coalesced into a growing economic and social condition in Hong Kong, which is also developing into a difficult political problem. The origins can be traced to the effects of economic globalization and China’s opening in the 1980s. It then grew during the late 1990s and worsened in the early 21st century. Many rich cities in the world have experienced similar phenomena. First, a small fraction of the population is in poverty; some may even be destitute. Second, the middle class begins sinking as growing numbers of its members become less able to afford a comfortable life in the manner they are used to. Third, income inequality and inequality in the ownership of wealth rise, especially as a result of escalating property prices. Unlike in other places, in Hong Kong these conditions are developing at a faster pace and with greater severity. |
