The New Paradox of Thrift:
The Hong Kong SAR government has always been proud of the fact that Hong Kong retains its top ranking in terms of “market freedom” according to most international rating agencies and think tanks. What the government has been much more reluctant to recognise is that, more than 15 years after the handover, Hong Kong now also tops other developed economies in terms of income inequality. The growing inequality is caused, among other things, by worsening poverty among the aged. This paper attempts to provide an updated analysis of income and wealth polarisation in Hong Kong, with a particular focus on the retirement protection policy and old-age poverty. It will examine the polarising effects of the financialisation of the Hong Kong economy.
Index by keyword :Financialisation, asset-based welfare, pension fund capitalism, public housing, retirement protection, income polarisation, old-age poverty.
Kim Ming Lee, Benny Ho-pong To and Kar Ming Yu, « The New Paradox of Thrift: », China Perspectives [Online], 2014/1 | 2014, Online since 01 January 2017, connection on 23 March 2017. URL : http://chinaperspectives.revues.org/6363Top of page
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