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Hong Kong economy
OpinionHong Kong Opinion
David Dodwell
David Dodwell

Outside In | It’s been grim for Hongkongers. Lee’s policy address must address that

After almost four years of adversity, the fragile economy needs support and many remain stressed and sceptical about prospects

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A homeless man in Yau Ma Tei on October 5. Chief Executive John Lee should take careful note of Oxfam’s latest report on poverty and inequality in Hong Kong. Photo: Nora Tam
David Dodwell
One of life’s safer bets, as Hong Kong’s Chief Executive John Lee Ka-chiu delivers his third policy address next Wednesday, is that optimism will be the patriotic order of the day.
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In July, when he kicked off more than 40 consultation sessions in preparation for his address, Lee promised to “stand atop and look afar, capitalise on our strengths and seize all opportunities, so as to let our people enjoy better lives”.

The chief executive is not wrong to try to assemble as upbeat a message as possible, but he must also be prepared to acknowledge that after almost four years of grim adversity, a significant proportion of Hong Kong people remain fragile, stressed and sceptical about prospects for the year ahead.

On the data available, it is probably fair to say that economic prospects have stopped getting worse, but for most Hong Kong families there is not yet much light visible at the end of what feels like a very long, dark tunnel.

Lee should take careful note of this month’s Oxfam report on poverty and inequality in Hong Kong. Oxfam records evidence of deep and widespread poverty – with our poorest 10 per cent of households subsisting on an average of HK$1,600 (US$200) a month, and more than 580,000 elderly people living below the poverty line.

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Hollywood, UK-based creative agencies tapped to publicise Hong Kong policy address

Hollywood, UK-based creative agencies tapped to publicise Hong Kong policy address
Compare this with the average monthly earnings of our most affluent 10 per cent – about HK$131,000 – and you see our richest earning almost 82 times more than our poorest, reflecting one of the world’s highest inequality rates. This should be sounding alarm bells for Lee’s economic policymakers.
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