ABSTRACT
This chapter outlines the contextual changes of Hong Kong after 1997. Underneath the runaway property market and housing unaffordability is a great transformation in the socio-politico-economic structure. It goes through the failed social policies to intervene inequality, the political system which favors corporatist interests, the twin process of deindustrialization and financialization, increasing social polarization and narrowing of opportunity structure, and the emergence of post-material values and discourses.
