Hong Kong ranked No. 1 in income inequality

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  1. #1

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    Hong Kong ranked No. 1 in income inequality

    Under a recent UN Development report, Hong Kong ranked No. 1 amongst the world's most developed economies for income inequality.

    The richest 10% in the city receive 34.9% of the total income here, while the poorest 10% receive just 2%. Singapore came second and the US third.

    BusinessWeek article on this here: countries-with-the-biggest-gaps-between-rich-and-poor: Personal Finance News from Yahoo! Finance

    Any thoughts? What kind of examples of breathtakingly high incomes and/or expenses of certain people in Hong Kong do you know of?
    What about extremely low incomes and/or expenses?


  2. #2

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    Lets see if the hk government start promoting this study to show hk as first in another league table.
    Posted via Mobile Device


  3. #3

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    Quote Originally Posted by HongKongFoot:
    In the US at least there is higher chance to move up in the world, in HK the chance is next to zero to go from pauper to kingpin.
    You might learn something from investigating the background of Li Ka-Shing, and people like him,

  4. #4

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    USA near the bottom of the list? The range of wages is shocking in the US. Remember HK is number 1, so don't compare the US to here and think the US is good!


  5. #5

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    There are comparative rich and poor areas in most/all countries, as well as a range of skills in... well all countries. Are you suggesting the USA is unique in this?

    None of the above matters much anyway because even if the US has 100 reasons for a big rich-poor gap, it doesn't change the actual figures, and doesn't mean it should be low down on that list.


  6. #6

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    If you want to compare the rich and the poor just go look at a home in mid-levels and then go check out a cage home.


  7. #7

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    i was thinking (not midlevels) but one of my former students lived in Stanley, in a HUGE house, minimum 6000' with 4 cars (one of which was a ferari) and 6 helpers (not including the 2 drivers they employed to take the father to work the mother shopping....


  8. #8

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    Quote Originally Posted by toastandjam:
    I suggest you need to widen your education.
    South Africa, Brazil, India ---- the list goes on and on , of those countries that have a not dissimilar gap and that the " poor " can be found in much harsher conditions than those in " cages ". Do you not even notice that Slumdog Millionaires was based on this gap ????

    You need to read more too so you can judge that cages are part of the culture and that people living in them have complained when HKG have tried to relocate the dwellers to more equipped and modern lodgings.

    As for the disparaging reference , that's just envy, as is most socialist clap trap about the poor " working class " . Show me one high ranking socialist politician that gives his wealth to the poor and I'll show you a thousand who live high and talk low. They give up the meaningless titles and march in support of every cause that can be found --- but give up the dollars / pounds / yen ??? --- They " need that to fight the cause " and send their kids to the best schools for a " healthy education ". Even our local " hero's " like the nice MR Ho and his mates like Long Hair are contaminated with the same disease.

    ENVY ..... Would you turn down 50 million dollars and a 4000 sq ft duplex in Mid levels ??? No -- thought not.

    You are comparing developing countries with developed countries like the USA and Hong Kong (I know it is not really a country). A developed and wealthy country should have a means to minimise the impact of the gap (as in most European countries).

    I do not envy the rich (well OK a bit) I just don't think the poor are happy living in cages because it is part of the local culture.

  9. #9

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    Quote Originally Posted by toastandjam:
    Cages are everywhere but in HK people WANT to be in them as part of the community they have grown up with and in.

    2nd Point - as an educator I am astounded that you do not retain the important information reported on many occasions over ( in my case ) the last 5 years about the " plight " of the cage dwellers and how they complain just like any other HK'r in response to change and being moved out of the area into better public housing. For them Territory is more important than a Town House.
    Strange then that an internet search for articles on cage dwellers throws up many which include cage dwellers saying how horrible they are and many saying they wanted to get out but I saw none saying they wanted to be in them. I looked because I was interested to see what their reasons were. If you can direct me to some please. There were similar issues in the UK during slum clearances where people did not want their communities broken up so I can accept SOME of them may think this way.

    As to your 1st point, I have no idea what you are arguing there. I agree there is poverty everywhere, so? Does that change HK's position in the league table?

  10. #10

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    Quote Originally Posted by HongKongFoot:
    I think you are out of touch with reality and basic goodwill towards each other and are one of those selfish individuals who only cares about themself and nothing more.

    Socialism was a failed experiment using people as lab rats, the one thing strict socialism could not account for was basic human greed.

    Socialism on paper looks inviting, everyone working towards a common good and not one person having more than anyone else. The bees / ants have a socialist type architecture.
    I think we need to define "socialism" here. By most people's definition the countries which regularly top the "best country in the world to live in" surveys (i.e. Norway, Sweden, Denmark) are "socialist". So it cannot reasonably be defined as a "failed experiment".

    What you are calling socialism is what most people would, I believe, call "communism".
    Last edited by PDLM; 08-11-2009 at 09:55 PM.

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