Title

Neoliberalization and privatization in Hong Kong after the 1997 financial crisis

Document Type

Journal article

Source Publication

The China Review

Publication Date

2007

Volume

7

Issue

2

First Page

65

Last Page

92

Abstract

This paper argues that neoliberalization in the form of privatization has increased rapidly in the post-1997 crisis period in Hong Kong as the government struggles to rebuild and reinvigorate the pro-corporate business environment. We use case studies to illustrate the glocalization of the neoliberal project as a process of "creative destruction," as suggested by Brenner and Theodore, in which existing institutions have to be destroyed in order to create new institutions for the neoliberal imaginaries.¹ However, neither destruction nor creation occurs without resistance from below. The privatization of public housing assets has forced grassroots organization to rethink the existing role of the state in protecting the masses against rich oligopolies in Hong Kong. The new focus on anti-neoliberal politics against both the state and capital simultaneously — especially after the privatization of the Link REIT — has created a space for a cross-class social movement in recent years.

Print ISSN

16802012

Publisher Statement

Copyright © 2007 Chinese University Press.

Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Recommended Citation

Chen, Y. C., & Pun, N. (2007). Neoliberalization and privatization in Hong Kong after the 1997 financial crisis. China Review, 7(2), 65-92. Retrieved from http://www.jstor.org/stable/23462301