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The New Paradox of Thrift:

Financialisation, retirement protection, and income polarisation in Hong Kong
Kim Ming Lee, Benny Ho-pong To and Kar Ming Yu
p. 5-14

Abstract

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.

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References

Electronic reference

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 26 April 2017. URL : http://chinaperspectives.revues.org/6363

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About the authors

Kim Ming Lee

Kim Ming Lee is a senior lecturer in Division of Social Sciences, Community College of City University. Division of Social Sciences, Community College of City University, Tat Chee Avenue, Kowloon, Hong Kong (sckimlee@cityu.edu.hk).

Benny Ho-pong To

 Benny Ho Pong To is a lecturer in Division of Social Sciences, Community College of City University. Division of Social Sciences, Community College of City University, Tat Chee Avenue, Kowloon, Hong Kong (tohopong@cityu.edu.hk).

Kar Ming Yu

Kar Ming Yu is an assistant professor, associate head in the Department of Asian and Policy Studies and director in the Unit of Associate Degree Studies, Hong Kong Institute of Education. Department of Asian and Policy Studies, Hong Kong Institute of Education, 10 Lo Ping Road, Tai Po, N.T. Hong Kong (yukm@ied.edu.hk).

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