The majority of people in Hong Kong live in skyscrapers known as cage homes.
In some places one square foot of space can cost almost $3000 US dollars.
Some rooms have nearly 20 cages for rent. Each cage is it’s own apartment.
Why is this happening and who does it benefit?
It benefits companies’ bottom line, and makes the rich much richer. It benefits the global 1%. It feeds the rich.
Hong Kong was designed to be Company friendly with a low tax requirement. It has one the highest degrees of economic freedom in the world. The economy is governed under positive non-interventionism.
Hong Kong’s gross domestic product has grown more than 200 times and the GDP per capita rose over 100 times. Meaning, the rich get much richer.
The ceiling for corporate tax is set at 16.5 per cent. The city has no capital gains tax, no withholding tax, no estate tax, no dividend tax, no sales tax or value-added tax, and no tax on interest.