“We are happy to post this news from Hong Kong, a view from our good friend, Chandran Nair (see my review of his book Consumptionomics at www.seekingalpha.com).
His organization GIFT is doing great work! ~Hazel Henderson. Editor”
Twenty years ago, I was sitting (and getting drenched) at the afternoon events that marked the Handover of Hong Kong from the United Kingdom to China. I was watching the start of a new age for Hong Kong: from a British colony to an autonomous region of China.
As Hong Kong residents look back at the last twenty years it is worth being reminded that the most significant opportunity to transform the city and reposition it globally for the next twenty years is to address its greatest challenge: the difficulty ordinary people face in buying or renting an affordable place to live in our dense and cramped, yet still wonderful, city.
The average home in Hong Kong now costs 18 times the median household income , according to the Demographia International Housing Affordability Survey. To know how severe that is: a ratio greater than five is considered “severely unaffordable”.
At the Global Institute For Tomorrow, we are seeking to make a contribution by creating a constructive platform where Hong Kong’s best and brightest young professionals can help build a better future. Now in its third year, the Hong Kong Young Leaders Programme is tackling this most important issue by seeking the ideas of the next generation of leaders. From September 4th-9th, and 24th-29th, participants will develop “out of the box” policy recommendations on how to best build Hong Kong’s future housing.
We invite you to get involved, by enrolling or nominating key members of your team. Let’s hope that twenty years from now housing does not remain a barrier to building a more cohesive society.