3 days ago
- Business
- South China Morning Post
‘Paradise for the rich, hell for the poor': Hong Kong among world's most unequal cities
Hong Kong has long been known as an international financial hub where fortunes are made in office towers that form the city's iconic skyline. Its free-market economy has given rise to some of Asia's wealthiest and most powerful families and firms.
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But beneath the glitz and glamour lies a sobering level of inequality. Some people are unable to pay for basic groceries due to rising inflation, while others live on the streets despite having paid jobs.
Poverty alleviation is a major goal cited by the city's government and authorities have targeted the problem with several task forces, including one focused on the issue of subdivided flats. However, many challenges remain.
