Whether it's justified or not, the 'hatred of the rich' sentiment seems to be back in fashion in Hong Kong. In the 1970s, despite various economic setbacks and widespread grass-roots struggles, the 'Hong Kong spirit' of perseverance and infinite vitality reflected a collective struggle and sense of mutual significance. There was no class conflict. People were resigned to the fact that the majority were living in poverty, and thus understood the importance of collective struggle. There was no objection to people who wanted to make money to improve their lives, as long as they did it with a clear conscience. And the general feeling was that rich people had to give back to the community.
The economic reforms in China over the past three decades created a nouveau riche class in Hong Kong and on the mainland. Its members took advantage of Hong Kong's economic situation and speculated in the property market to accumulate wealth, often at the expense of others.
When you contrast their wealth with that of the general population - and the working poor, who can barely make ends meet - it is not difficult to understand why most people resent the rich and powerful. That negative sentiment was also demonstrated during the recent Sai Wan controversy, in which a tycoon was widely criticised for defacing one of Hong Kong's scenic spots. It is comparable to the King Yin Lei mansion conservation fight three years ago, which created a confrontation between the rich and everyone else.
There is obviously a lot of anti-rich sentiment. Therefore the rich must not only give something back, they also need to show they are able to uphold Hong Kong's core values and beliefs. In June, former Liberal Party chief James Tien Pei-chun said some companies were launching a fund to fight poverty by contributing 0.5 to 1 per cent of their annual net profits - at least HK$500 million to HK$600 million per year in total. The charity would most likely offer help through cash handouts, he said. This is clearly well intentioned, but throwing cash out like confetti is not really in line with the principles of charitable giving.
These principles are: first, everybody should create and embrace the culture of giving; second, more than mere fund-raising, it also involves cultivating a culture of care; third, the long-term goal should be empowerment - 'helping people to help themselves'.
The shining examples of charitable giving are Bill Gates and Warren Buffett. American billionaire Buffett has pledged to give away 90 per cent of his wealth to charity. Buffett once said that the perfect amount of money to leave children is enough to make them feel they could do anything but not so much that they would do nothing.