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‘Involution’ Engulfs Hong Kong: The Triple Impact of Real Estate Debt, Talent Mismatch, and Consumption Outflow

By: Michael Ku

Date:

June 18, 2025

Hong Kong

Hong Kong is grappling with a severe real estate crisis and economic downturn.

Michael Ku

6/18/2025|Updated: 6/18/2025

0:00

News Analysis

The phenomenon of “involution,” or “nei juan”—a Chinese buzzword meaning “inward curl” that describes intense competition to survive ongoing socioeconomic woes in mainland China—has rapidly rippled over Hong Kong.

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‘Involution’ Engulfs Hong Kong: The Triple Impact of Real Estate Debt, Talent Mismatch, and Consumption Outflow

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