Comment on the Trend and the Size of Poverty in Hong Kong...

8. Comment on the trend and the size of poverty in Hong Kong society. To what extent do you consider the present Social Security system would be effective to alleviate poverty in Hong Kong? Introduction In such a cosmopolitan city as Hong Kong, it is not uncommon to see a number of affluent parents spending a large sum of money on their children, ranging from joining calligraphic class to extra physics tutorial lessons, and from buying the most updated mobile phones for them to sending them to overseas schools. This practice is even becoming increasingly popular due to the economic boom in recent years. By contrast, despite the seemingly prosperity of this city, there still exists a number of people living in destitute, with many†¦show more content†¦The major problem is that Hong Kong is lack of comprehensive and adequate retirement protection (Tsoi, 2002). Therefore, most retired people will not have stable financial income after their retirement. They could not rely on their job to earn a stable living but only depend on the social assistance and personal saving to sustain their life. âž ¢ New arrivals from China The group of people who also face econo mic hardship is mainly composed of wives and children of low-income Hong Kong workers who are new arrivals from China (Tsoi, 2002). Due to higher living standard in Hong Kong, family finance is one of the most common immediate adaptation problems experienced by the new arrivals. A study showed that the median family income of new arrivals was much lower than the median household income of the total population by $11,000. (Home Affairs Department, 2000). Within this vulnerable group, it is possible to further divide it into three sub-groups. First, it is the families living in private housing. Owing to the fact that those families with new arrivals members are not eligible to apply for subsidized housing, they have to rent this kind of expensive housing. They even have to compress food and other essential expenditures so as to pay for the rent (Tsoi, 2002). Pseudo-single-parent family is anotherShow MoreRelatedComment on the Trend and the Size of Poverty in Hong Kong Society. to What Extent Do You Consider the Present Social Security System Would Be Effective to Alleviate Poverty in Hong Kong?3599 Words   |  15 Pages8. Comment on the trend and the size of poverty in Hong Kong society. To what extent do you consider the present Social Security system would be effective to alleviate poverty in Hong Kong? 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