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Causes of Poverty in Hong Kong

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Causes of Poverty in Hong Kong
Causes of Poverty in Hong Kong The Hong Kong Government is planning to set an official poverty line in the year 2013. The threshold is expected to be set at half of the median household income. Despite Hong Kong being a socially and economically developed city, hidden within the crowd of seven million citizens though are people living lives of poverty. This poverty indictor might just pin-point the social groups in society that is in need of help. However, disregarding the poverty line, certain groups of people have arisen to the surface to being recognized as people who are living lives of poverty. According to the commission of Poverty, 1/6 of Hong Kong citizens live on an income of $3600 or less per month. Here, causes of poverty in Hong Kong will be stated and explained.

The Elderly

One of the major factors leading to poverty in Hong Kong is of the “ageing population dilemma” Hong Kong has a rapidly ageing population, as of now, the population elderly citizens is 12.6% of the population of Hong Kong citizens, it is estimated to be a mere 27% by 2033. The life expectancy of Hong Kong citizens is extending as well. The average life expectancy of a Hong Kong citizen is currently 82.6 years old. It is estimated that by 2033 the average life expectancy of a Hong Kong citizen would be 85.5 years old. The elderly dependency ratio is 168, meaning in every 1000 working citizens, 168 elderly citizens are being raised. Here’s the main problem, as the age rate increases, birth rates are decreasing. This means that we are losing potential working citizens that are the foundations of the economic and social growth in Hong Kong.

The Adults (Working Citizens)

Whilst the “ageing population dilemma” serves as a major cause for poverty in Hong Kong nowadays, the government is putting their focus in the wrong spot. Whilst putting tackling property development and financial matters, the government fails to see that working citizens are not getting the pay they need
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