Feel sorry for Hong Kong's rich?

As normal Hong Kong people continue to struggle to even find a decent roof over their heads, and as the elderly still sweep the streets, and young people work for $15 per hour Henry Cheng asks us to spare a thought for the rich! It is time that landowners and property giants are forced to give back more to society. Housing and education costs continue to spiral beyond most people's financial circumstances.The quality of that education in government schools steadily falls below the requirements of the city's future needs. Yes, the government needs to invest more, but there is a huge amount of wealth now owned by a very few people and a handful of companies. It is time to pay the piper! From RTHK http://bit.ly/do8LE4 Govt 'to blame for hatred of rich'

07-10-2010

The Managing Director of New World Development, Henry Cheng, says the government should bear more responsibility than the business sector for what he called a phenomenon of public "hatred towards the rich". Mr Cheng said companies had to do their best to make profits in the interest of their shareholders. The government, he said, should set out long-term policies and use its huge reserves to alleviate poverty and improve people's livelihoods.