Tycoon City : Political Economy, Real Estate and the Super-Rich in Hong Kong
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author)
Author(s)
Detail(s)
| Original language | English |
|---|---|
| Title of host publication | Cities and the Super-Rich |
| Subtitle of host publication | Real Estate, Elite Practices, and Urban Political Economy |
| Editors | Ray Forrest, Sin Yee Koh, Bart Wissink |
| Place of Publication | New York |
| Publisher | Palgrave Macmillan |
| Chapter | 12 |
| Pages | 229-252 |
| ISBN (electronic) | 978-1-137-54834-4 |
| ISBN (print) | 978-1-137-55715-5 |
| Publication status | Published - 2017 |
Publication series
| Name | Contemporary City |
|---|---|
| ISSN (Print) | 2634-5463 |
| ISSN (electronic) | 2634-5471 |
Link(s)
Abstract
Hong Kong is highly unequal. In this chapter, we first show that wealth and inequality are structured by a political economy centring on small government and real estate profits. The underlying urban development model contains urbanisation, while restricting access to land to a small group that is fabulously rich. Next, we discern three reasons for the initial acceptance of this political economy: a mixed coalition reached sustained agreement on core policies; an ideology ‘sold’ these policies to the larger public; and social welfare policies redistributed benefits. Third, we argue that this support has now disappeared, because the government has been reluctant to face the consequences of domestic and foreign real estate investments for the non-rich. Unfortunately, a new social contract seems out of reach in the current political climate.
Research Area(s)
- Business Elite, Colonial Government, Housing Price, Real Estate, Real Estate Investment
Citation Format(s)
Tycoon City: Political Economy, Real Estate and the Super-Rich in Hong Kong. / Wissink, Bart; Koh, Sin Yee; Forrest, Ray.
Cities and the Super-Rich: Real Estate, Elite Practices, and Urban Political Economy. ed. / Ray Forrest; Sin Yee Koh; Bart Wissink. New York: Palgrave Macmillan, 2017. p. 229-252 (Contemporary City).
Cities and the Super-Rich: Real Estate, Elite Practices, and Urban Political Economy. ed. / Ray Forrest; Sin Yee Koh; Bart Wissink. New York: Palgrave Macmillan, 2017. p. 229-252 (Contemporary City).
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author)
