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Opinion

Hong Kong's cash handouts ignore city's true problems

Inequality has driven social unrest and threatens territory's future

| Hong Kong

Hong Kong's tightfisted government is finally opening its wallet. A growth-killing combination of massive protests, the trade war and the coronavirus has the city doling out 10,000 Hong Kong dollars ($1,280) to all permanent residents 18 years old and above in the hope of restarting growth in a tumbling economy.

This is a step in the right direction as a recession that began in mid-2019 deepens. But it is almost certain to backfire as economic reality bears down on Hong Kong.

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