tycoonocracy

“Hong Kong's economic elites simply do not need further advantages,” he said [Martin Lee of The Democratic Party of Hong Kong], adding that the change would help turn Hong Kong into a “tycoonocracy.”

He labels these unhealthy links between the government and unelected, quasi-hereditary business elite as “tycoonocracy”. Unfortunately, since the publication of this book in 2007, the phenomenon of “tycoonocracy” has become more conspicuous.

It is no coincidence that the city’s tycoonocracy is being blamed for both betrayals.