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IB Economics Commentary #1 Hong Kong currently has a budget deficit problem1. This means that the government is spending an excess of expenditures over its taxation revenues. If the problem lasts too long, inflation2 may occur where there is a general increase in prices, where everything gets more valuable except money. So the government needs to look for solutions to tackle the problem. The article Editorial Education funding cuts shows one way that the government has chosen to solve the problem- by cutting education funds in primary/ secondary schools and in universities. This has caused an uproar throughout the community. The diagram below shows HK's current education system where the government provides subsidies to students. In HK, many people cannot afford to send their children to school, or think that it is unnecessary to do so. Without government intervention, the people can make their own decision about whether to provide education for their children...

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