The Wealth Gap in Hong Kong

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  • Topic: Gini coefficient, Income inequality metrics, Economic inequality
  • Pages : 2 (545 words )
  • Download(s) : 2831
  • Published : March 8, 2011
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Comparing to the near area,like Singapore,Hong Kong's Gini coefficient is more higher and ranked top in the world.Even the wealth gap is not common in western societies,however,it is no doubt that wealth gap has threatened the Hong Kong most. With the change of economic mode in Hong Kong ,it trend to knowledge-based economy rather than manufacturing industry so that a large number of worker are unemployed immediately,in the other hand,a lot of high-class people are benefited by the new mode economy.Therefore the wealth disparity has become more serious. As the result of,those low-class people are low education and low skill so it is difficult for them to survival in the current Hong Kong.According to the structure of Hong Kong economy, mainly have six industries.However,those trades need higher education and skill.Thus it can been seem why there is lot of low-class people has been unemployed. Aside from what i mentioned above,another reason of extreme disparity between rich and poor is the government has invested too few resources in low-class.For example,the government has not considered to put more welfare to reduce the burden of low-class.Therefore,people need to burden the heavy medical expenses or house rent. As a matter of fact,this social issue has caused lot of other problems.Under the heavy stress of burden,the majority of low-class family may always argue for the money and lead the violence problem so that it may effect their children development.That's why lot of teenagers from low-class are easier to take drug and to crime.What's more,parents can not burden the extracurricular activities fee for their children to increase the competitiveness with others.Therefore those children may have low self-esteem and confident. In the addition to what i mentioned above,the other problem cased by the wealth gap is the society would lack of disharmony due to people are disappointed to the government ,and they would gather to oppose the government.As result of...
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