Berliner Boersenzeitung - Hong Kong more unequal, less free as Carrie Lam leaves office

EUR -
AED 4.301653
AFN 80.810371
ALL 98.156133
AMD 449.212222
ANG 2.096133
AOA 1073.959355
ARS 1538.611839
AUD 1.786896
AWG 2.109856
AZN 1.994786
BAM 1.956186
BBD 2.366096
BDT 142.388096
BGN 1.955445
BHD 0.441531
BIF 3460.795803
BMD 1.171166
BND 1.499951
BOB 8.097667
BRL 6.313734
BSD 1.171896
BTN 102.478096
BWP 15.639752
BYN 3.874849
BYR 22954.855412
BZD 2.353985
CAD 1.610617
CDF 3384.670175
CHF 0.942748
CLF 0.028455
CLP 1116.26144
CNY 8.402589
CNH 8.409488
COP 4712.186773
CRC 592.699238
CUC 1.171166
CUP 31.035901
CVE 110.733703
CZK 24.45723
DJF 208.139599
DKK 7.462811
DOP 72.202721
DZD 151.697179
EGP 56.58864
ERN 17.567491
ETB 164.198763
FJD 2.631318
FKP 0.867055
GBP 0.862183
GEL 3.156286
GGP 0.867055
GHS 12.326563
GIP 0.867055
GMD 84.916515
GNF 10159.865787
GTQ 8.988505
GYD 245.170003
HKD 9.192623
HNL 30.860583
HRK 7.534348
HTG 153.395684
HUF 395.231074
IDR 18874.512746
ILS 3.963905
IMP 0.867055
INR 102.419002
IQD 1534.227581
IRR 49335.371881
ISK 143.198666
JEP 0.867055
JMD 187.807058
JOD 0.830376
JPY 172.102691
KES 151.662839
KGS 102.301711
KHR 4692.862913
KMF 492.471336
KPW 1053.976325
KRW 1614.756667
KWD 0.357721
KYD 0.976572
KZT 630.639821
LAK 25297.187569
LBP 104656.22454
LKR 352.589572
LRD 235.988662
LSL 20.518942
LTL 3.45815
LVL 0.708427
LYD 6.353598
MAD 10.536394
MDL 19.564443
MGA 5199.977416
MKD 61.570018
MMK 2458.553162
MNT 4211.970119
MOP 9.474984
MRU 46.776618
MUR 53.206207
MVR 18.026789
MWK 2033.725958
MXN 21.823872
MYR 4.927681
MZN 74.908156
NAD 20.518646
NGN 1795.873693
NIO 43.04038
NOK 11.926043
NPR 163.964753
NZD 1.957293
OMR 0.450322
PAB 1.171841
PEN 4.147128
PGK 4.858589
PHP 66.339586
PKR 330.796412
PLN 4.253384
PYG 8777.732007
QAR 4.263632
RON 5.061542
RSD 117.172793
RUB 93.050709
RWF 1691.163837
SAR 4.394622
SBD 9.631404
SCR 16.612533
SDG 703.284182
SEK 11.170149
SGD 1.498548
SHP 0.920353
SLE 27.1673
SLL 24558.764998
SOS 669.324465
SRD 43.976091
STD 24240.773538
STN 24.945838
SVC 10.254023
SYP 15227.443
SZL 20.518927
THB 37.793787
TJS 10.927383
TMT 4.110793
TND 3.361829
TOP 2.742987
TRY 47.766832
TTD 7.958332
TWD 35.084269
TZS 3050.887872
UAH 48.656601
UGX 4169.698147
USD 1.171166
UYU 46.92926
UZS 14668.854785
VES 156.179681
VND 30789.95657
VUV 140.013004
WST 3.113106
XAF 656.097664
XAG 0.030381
XAU 0.000348
XCD 3.165135
XCG 2.112035
XDR 0.822554
XOF 655.275919
XPF 119.331742
YER 281.401985
ZAR 20.50022
ZMK 10541.897024
ZMW 26.982555
ZWL 377.115004
  • JRI

    0.0200

    13.4

    +0.15%

  • BCC

    3.8900

    88.15

    +4.41%

  • CMSD

    0.1500

    23.71

    +0.63%

  • NGG

    0.2500

    70.53

    +0.35%

  • GSK

    0.9100

    39.13

    +2.33%

  • BCE

    0.6100

    25.11

    +2.43%

  • SCS

    0.1700

    16.36

    +1.04%

  • AZN

    2.6000

    77.94

    +3.34%

  • CMSC

    0.0900

    23.17

    +0.39%

  • RBGPF

    0.0000

    73.08

    0%

  • RIO

    0.4700

    63.57

    +0.74%

  • BTI

    -0.8100

    57.11

    -1.42%

  • RELX

    -0.0600

    47.77

    -0.13%

  • RYCEF

    -0.1400

    14.8

    -0.95%

  • VOD

    0.1100

    11.65

    +0.94%

  • BP

    0.2400

    34.31

    +0.7%

Advertisement Image
Hong Kong more unequal, less free as Carrie Lam leaves office
Hong Kong more unequal, less free as Carrie Lam leaves office / Photo: Isaac LAWRENCE - AFP

Hong Kong more unequal, less free as Carrie Lam leaves office

Hong Kong has emerged a more unequal city, its freedoms curtailed and international shine dulled after five years with Carrie Lam at the helm, analysts say, as her turbulent leadership draws to an end.

Advertisement Image

Text size:

Lam, Hong Kong's first woman leader, took office promising to heal divisions and tackle livelihood issues, especially a housing crisis.

Her term was instead dominated by massive democracy protests and Beijing's subsequent crackdown, as well as a zero-Covid pandemic strategy that kept the city isolated while rivals reopened.

She is on track to depart at the end of June with the lowest approval ratings of any leader since the handover from Britain.

In her final policy address last October, Lam described Hong Kong as "much stronger than ever" after China intervened to ensure stability.

Her government survived the mass protest movement, but many say she failed to deliver on life improvement pledges -- which even China's leadership says are at the heart of the city's "deep-rooted social conflicts".

Last year, 1.65 million Hong Kongers -- nearly one in four -- were living below the government's official poverty line, which for a one-person household means HK$4,400 ($560) a month.

This was the highest level since records began 12 years ago.

"The grassroots have been very neglected," said Sze Lai-shan, deputy director of the Society for Community Organization.

"Sometimes it feels like (the government) is living on a different planet."

Even pro-establishment figures have been unimpressed.

"You may say (Lam) has been working very hard, but little has been achieved in solving the deteriorating livelihood issues and Hong Kong's deep-rooted conflicts," senior Beijing advisor Lau Siu-kai told AFP.

- World's most expensive property -

Last July, China's top official on Hong Kong affairs Xia Baolong gave a speech widely seen as a reflection of Beijing's growing impatience with the housing crisis, something every leader since the 1997 handover has failed to solve.

The city, Xia said, must "say goodbye" to cage homes and the tiny shared apartment rooms where some 220,000 Hong Kongers still dwell.

Hong Kong has long held the title of the world's most unaffordable housing market, where a study this year showed the median property price is 23 times the median household income.

Lam increased public housing supply, more than her predecessors, but demand still outstripped supply with the wait time increasing to six years.

Chan Kim-ching, a land-use researcher at the Liber Research Community, said Lam overly prioritised building flats to buy.

"By putting home ownership as the goal, it exacerbated the wealth inequality in society," Chan told AFP.

"(Lam's) policies do not target those in the greatest need. There is a mismatch."

- Exodus -

The last two years of Lam's term also witnessed a historic outflow of people -- fleeing either the political crackdown or some of the world's strictest pandemic controls.

The departures surged further this year when Hong Kong's zero-Covid policy collapsed as the more transmissible Omicron variant broke through, killing more than 9,000 people, mostly under-vaccinated elderly.

A net 160,000 people departed Hong Kong in the first three months of the year.

Lam recently acknowledged that the curbs had caused a brain drain among foreign businesses, saying it was an "undeniable fact".

Meanwhile, Beijing's ongoing efforts to reshape Hong Kong's political landscape sparked another emigration wave among locals.

After the 2019 protests were crushed, China imposed a sweeping national security law that criminalised dissent and transformed the once outspoken city.

Police arrested 182 people under the security law. Most of the city's prominent democracy activists are either in jail or have fled overseas.

In the annual international press freedom chart released this week by Reporters Without Borders, Hong Kong plummeted from 80th to 148th place.

Frances Hui, an activist granted asylum in the United States, described Lam as an "obedient enforcer" of Chinese leader Xi Jinping's agenda.

"She accelerated the suppression of freedoms," Hui told AFP.

The Hong Kong diaspora is steadily growing in places like Britain, Canada and the United States.

"I didn't expect that taking part in activism will lead to me having to seek asylum," Hui said.

"That's a reflection of how far Hong Kong has fallen."

(G.Gruner--BBZ)

Advertisement Image