Photo by Bangyu Wang On Unsplash
Hong Kong is one of the world’s biggest and most impactful cities, yet its current state is nothing compared to its past. People would come from all over the world to trade, the economy boomed because all the goods were free of tariffs, and the news outlets had free reign to keep the people informed. Now, the fluorescent lights and signs in the bustling streets are dimming. However, Hong Kong is now dying. Rising costs of living, mass migration out of urban life, and the diffusion of democracy have slowly eroded the special administrative region’s liveliness.
The real estate prices are soaring, as Hong Kong is once again voted the most unaffordable city in the entire world, with some one bedroom flats costing HK$16,551 per month. This is most visible in the Monster Building, a complex of 2,000 units and nearly 10,000 residents into a single block. These apartments are cramped and poorly ventilated, making it one of the most crowded living spaces in the world. It is a symbol of how housing in Hong Kong is not only unaffordable, but also comes with poor living conditions. For many residents, getting housing is even harder with the small gaps between income and costs of living. The median monthly income in Hong Kong is only HK$20,500. Many elderly residents cannot afford to retire, surviving on monthly incomes of around HK$10,000. With housing consuming such a large share of earnings, there is little to no disposable income left. One striking example comes from children who ask their parents for a toy, only to be told no because there is no space, when in reality, the true reason is that there is simply no money to spare. For many families and the elderly, it seems like living paycheck to paycheck is the only way to survive. This is an extreme difference from Hong Kong’s prosperity, leaving many citizens stuck.
Heading to, or rather fleeing, has become a trend for many Hong Kongers searching for lower prices in Shenzhen. The difference in price for a bottle of water is drastic: in Hong Kong, the average is HK$8.65, while just across the border in Shenzhen it’s HK$2.13, about a 75.3% difference. That’s one of the reasons why many families decide to shop and eat in China. Meanwhile, Hong Kong’s unemployment rate has risen to around 3.7% in recent months. Key jobs like construction, real estate, retail, and food & beverage are feeling the strain. These pressures are causing shops that have decades of history to shut down, harming both the local economy and the city’s culture.
Beyond rising costs and the shops closing down, Hong Kong is also facing another problem: freedom of the press. Prior to the handover, before Hong Kong was given back to China, the city had some of the most press freedom to exist in Asia. The city itself had many protests dating back to July 1st, 2019, when hundreds marched into the Legislative Council after a march and complained about the new bill that the council had proposed. The law would allow the authorities to send people to China for trials. The reason why the people didn’t want this was because it meant that more acts could be considered illegal. Despite the backlash this law received, the National Security Law, or NSL, was passed on June 30, 2020. As a result, pro democracy newspapers in Hong Kong like Apple Daily were closed down on the basis that they breached the NSL. The chief editor and five other executives were arrested at their homes and the assets of three companies that were connected to Apple Daily were frozen. The final edition of this newspaper was released on June 24, 2021.
The struggles and challenges the Hong Kong citizens face are not just about the rising costs of living, the stagnant economy, and the silencing of the press, but they are the evidence of the city losing what it was known for. Hong Kong was a beacon of democracy, however China’s influence is creeping in. These changes have dtrained the city, economically and politically. There is no question that the city is a fraction of the success it used to be. The only remaining question is if Hong Kong can hold on or if it will keep falling until rock bottom.
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