ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more