How Hong Kong is home to the crazy rich and the mega poor

  • Published 1 month ago
  • Not Rated

Hong Kong, officially the Hong Kong Special Administrative Region of the People's Republic of China, is a city and special administrative region of China on the eastern Pearl River Delta in South China.
According to statistics, it is home to 434,000 multimillionaires, making up to 7.4% of the adult population between 21 and 79 years. That means one in 13 people living in the city is a multimillionaire.
The economic strength of Hong Kong includes a sound banking system, a strong legal system, ample foreign exchange reserves, and virtually no public debt.
Yet, despite all of it, it is home to some ultra-rich people and poor people. In fact, according to statistics, 1 in 4 people still live in poverty.
Why is the gap so extreme? This documentary takes a look.

From Around the Web

Related Videos

Toys have always been part of our lives. They have remained among the most popular items. Toys bring revenue of billions. It is no wonder every major company is trying to sell more...

  • 113
  • 1 week ago
  • Not Rated

This documentary takes us to South Africa and Zimbabwe and shows how southern Africans gradually came to grasp the destruction and suffering that would be inflicted upon them by wh...

  • 199
  • 1 month ago
  • Not Rated

A supply chain is a network of individuals and companies who are involved in a creating a product and delivering it to the customer.It begins with the sourcing of raw materials, wh...

  • 420
  • 3 months ago
  • Not Rated

A growing debt crisis, dwindling forex reserves and soaring inflation have pushed Pakistan to the brink of an economic disaster.These were some of the factors which contributed to ...

  • 308
  • 4 months ago
  • Not Rated
Avatar

4,817 Videos / 17,954,008 Views
Tags

Related Articles
Escondida produces more than 1 million tons of copper per year, which is about 5% of the global production. That is even...
  • 4,026
  • 2 years ago
Facebook announced it will launch its own cryptocurrency, Libra, in the first half of 2020. How will it affect the marke...
  • 2,781
  • 3 years ago
According to a poll, Americans say you need an annual income of about $100,000 to be considered rich. In the poll, Ameri...
  • 4,269
  • 3 years ago
These days, most of the universities of economics and business in the world teach their students about the origin of eco...
  • 4,650
  • 3 years ago