Crisis Economics: Private Profits, Public Pain
Crisis Economics: Private Profits, Public Pain
Hong Kong’s economic problems since 2000 are the official excuse for cuts in social spending. But the problems themselves are the outcome of deliberate choices made by Chief Executives and Financial Secretaries. These decisions were not forced on the SAR government by business leaders, even though their main aim was to promote business interests regardless of the adverse consequences for ordinary families and for the needy and disabled individuals. These policies were a legacy from the colonial era and reflect a deeply-rooted culture shared by the business and professional classes as well as the civil service.
Keywords: Hong Kong, Poverty, Social welfare, Comprehensive Social Security Assistance, Healthcare, Education, Housing, Government policy, Legislation, Social inequality
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