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Hong Kong: A Tale of Two Cities

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on 8 April 2011

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Transcript of Hong Kong: A Tale of Two Cities

There is no significant public debt. Yet..... ...is only getting
WIDER. But why does this huge gap exist? The government is cash rich Hong Kong is a city divided.

The gap between the rich and the poor... Only of the GDP spent on health and welfare The Wealth Gap By 2033, 27% of the population in Hong Kong will be over 65 The Ageing Population Healthcare HK ranks the worst among developed nations with a Gini coefficient of 43.4% Hong Kong is not struggling or impoverished Check out these other countries Asian recession (1998) - fallen wages and unemployment (5.5%)
Cuts to welfare benefits
Increased fees for education and medical care
No wealth distribution Hong Kong: A Tale of Two Cities. 15% of the population is living in... Very little invested in public spending: 23% on education
12% on social welfare
11% on health
5% on housing And the rich are getting RICHER Max tax is 15%
No tax on investments And so the gap continues to GROW Increased demand for social services, training and healthcare 20% of those over 60 currently have no retirement benefits CLASH Economics Culture Housing Huge waiting list for public housing - average years for severely mentally disabled years for severely physically disabled 42 months for nursing homes
34 months for care and attention homes Education 2008 - 1.2 billion HKD allocated to government funded schools Some secondary schools being allowed to charge fees and change curriculum Best education available based on financial versus academic ability Restrictions have resulted in falling standards, long wait times and limited resources 2% 7 5.5 9 YEARS The Bare Minimum A 28$/hour minimum wage has recently been instituted and will begin May 1 of this year Refugees 6000 currently seeking asylum in HK 90% from South and South East Asia 10% from Africa Offered no protection - must be ... Resettled
or... REJECTED So what are we doing? Made up of 7 clubs that are involved in community service and environmental initiatives The Animal Protection Club Interact Club UNICEF Club Amnesty International Club Habitat for Humanity Orbis Club E-Club @ CDNIS Famine 10 Stand Up Against Poverty
Cotton Candy Sales
Dinner for Refugees
Visits to Crossroads Vow of Silence
Pizza Sales
Diaper Drive for Refugees
Amazing Race
Full transcript