{
  "id": 14343880,
  "title": "Does Hong Kong’s economy serve the people or profit?",
  "url": "https://urgent.news/2026/10/14/does-hong-kongs-economy-serve-the-people-or-profit-14343880",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T01:30:05.000Z",
  "source": {
    "name": "South China Morning Post - Hong Kong",
    "slug": "south-china-morning-post-hong-kong",
    "url": "https://www.scmp.com/opinion/hong-kong-opinion/article/3370554/does-hong-kongs-economy-serve-people-or-profit"
  },
  "original_language": "en",
  "account": "Hong Kong's economy serves profit, not the people, according to a comparison with the U.S. and Chinese economies. While the U.S. has produced 75% of Nobel economics laureates, only two Asian laureates exist out of 99 total recipients. China's approach to economics is driven by ideology, integrating planned and market economies, contrasting with the Western focus on capital and GDP growth. In Hong Kong, government-negotiated schemes guarantee profit for power companies, with no consideration for inflation, wages, or household affordability. Similarly, electricity costs are passed onto consumers through fuel adjustments. Hong Kong is wealthy on paper, but wealth inequality is extreme, with many struggling amidst high living costs. Despite abundant land, Hong Kong's property prices are excessively high due to government policies favoring capital over the populace. China's high-speed rail network, benefiting national development, contrasts with the U.S.'s focus on profit-driven AI companies. The Hong Kong government's policies prioritize capital, raising the question of the economy's true purpose and beneficiaries.",
  "summary": "China has lifted nearly 800 million people out of extreme poverty, arguably the greatest achievement in poverty reduction in human history. Even so, no mainland Chinese economist has won the Nobel Prize in Economic Sciences. Across the Pacific, the United States has produced about 75 per cent of Nobel economics laureates, even as its economy staggers under mounting public debt, chronic fiscal…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "SCMP Business",
        "title": "Hong Kong completes pilot schemes to trade green products with exchanges in mainland China",
        "url": "https://urgent.news/2026/10/13/hong-kong-completes-pilot-schemes-to-trade-green-products-with",
        "published": "2026-10-13T23:00:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}