Every citizen of the Chinese special administrative zone receive just 1,300 U.S. dollars. This should help boost the flagging economy.

economy and the share price will go down the drain – but now there is a bit of money for all photo: ap

BEIJING taz | up to the "helicopter money" by U.S. Economist Milton Friedman remained a pure gimmick, now it pushes the Coronavirus in the reality. In 1969, he developed his concept in the fight against economies in the recession: As a helicopter from the state casts indiscriminately on every citizen a thousand dollars to boost the economy and increase Inflation. In Hong Kong, the idea will be tried now, and the distributable cash amount exceeds the equivalent of 1,300 U.S. dollars, even the proposal from Friedman's.

It is part of a 14 billion dollar economic stimulus package, the Hong Kong Minister of Finance, Paul Chan presented on Wednesday; tax relief "secure jobs" and "the burden of the people reduce to Hong Kong tide over the difficulties".

With the difficulties of not only the Coronavirus. Hong Kong skidded already, last fall in a recession, which manifested itself in a decline in the gross domestic product of 1.2 per cent for the calendar year. For 2020 Chan predicts in the best case, a growth of 0.5 per cent, could possibly be at the end of the year, a Minus of 1.5 percent.

Responsible for the misery, especially since last summer, sustained protest movement, the country was directed against the growing influence of China on Hong Kong. The activists met the financial metropolis on their Achilles heel – the economy. They attacked Beijing-friendly companies, paralysed traffic arteries to a morning commuter times, and occupied at times the airport.

The most massive collapse affected the tourism sector, as visitors stayed because of the violence between protesters and security forces at a distance. For the more than seven million Hong Kong people, the helicopter money is used as a band-aid. The ailing System with exorbitant costs of living and superheated real estate market can heal.