Items related to Land And The Ruling Class In Hong Kong
Synopsis
The main theme of the book centers on acute concentration of economic power and wealth in the hands of a few economic powerhouses, which is basically due to the workings of Hong Kong's land system and the lack of competition in key sectors. In spite of this socially unjust phenomenon, not only has the SAR government played deaf and blind, its approach towards setting land and competition policies has made matters worse by the day. The book discusses how the land system, which is inherited from the British administration, has helped to foment the build-up of unrivalled wealth for that ruling class and how the lack of a competition law has encouraged industrial and economic concentration in the same entities. The land system, industrial concentration and phenomenal wealth imbalance have given rise to a host of social and economic ills. Finally, the book ends with some suggested solutions to heal Hong Kong of those ills.
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From the Back Cover
"Alice Poon's penetrating look at Hong Kong's property development industry required not only insight and dedication but a great deal of courage. Ms. Poon worked for 17 years for two of Hong Kong's biggest property companies. She has painted a lucid and unambiguous picture of the way the oligarchs who control the industry have played upon their cosy relationships with the government to stifle competition while at the same time peddling the fiction that Hong Kong possesses the freest, most laissez-faire economy in the world."
John Berthelsen, Managing Editor, The Standard, Hong Kong
"Alice Poon has eloquently articulated the complex relationship between Hong Kong's land system, monopolization of real estate development, industrial concentration, and economic and social problems in the SAR. She traces the Hong Kong government's land policy back to the colonial era and explains how the real estate developer conglomerates managed to secure and sustain oligopolies in major economic sectors, a situation that has eventually led to ever-deepening social and economic inequalities in Hong Kong. She suggests a solution that is unequivocally targeted at land monopoly - the mother of all monopolies - in the SAR.
I strongly recommend this book to any individual looking for a clear, insightful resource for understanding how the once freest and most laissez-faire market system could be turned into a system of oligopolies where the ordinary citizens are so subjugated and social justice so undermined."
Jot Yau, PhD, CFA, Professor and Chair, Department of Finance, Seattle University, Washington, USA
"There are relatively few people who write about land policy in Hong Kong. The people who have a strong grasp of the subject either work for the developers or the government, who are not about to reveal too much. Ms. Poon used to work for two developers and is therefore well placed to explain what she has learnt from her experience. I would like to think that this publication represents the first of many such works that will help to shed light on one of the most important but least understood aspects of Hong Kong."
"Foreword " by Christine Loh, Chief Executive Officer, Civic Exchange, Hong Kong
From the Inside Flap
"Land has worked as an enriching agent for the ruling class in Hong Kong. Existence of such a ruling class, which thrives on land and spatial monopoly and control of other forms of economic assets, is itself a symbol that contradicts the ideals of a free economy - a state that Hong Kong is ironically believed to be in."
"A free economy is one where people have the opportunities to demonstrate their individual worth and where they enjoy freedom of upward social mobility. Monopolies, in particular land and spatial monopoly, on the other hand, which are the cornerstone of economic concentration, are designed to prevent an economy from operating freely and effectively, for all people and at all times."
"If Hong Kong is ever to have a truly free economy, one that is worthy of commendation by the international community, not only are reforms to her systems inevitable, but reforms to her society's mentalities are also a must."
"About this title" may belong to another edition of this title.
- PublisherAlice Poon
- Publication date2005
- ISBN 10 097387600X
- ISBN 13 9780973876000
- BindingHardcover
- LanguageEnglish
- Number of pages162
- Rating
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