With reference to Article 2 and 3, discuss the consequences of minimum wages and rent controls on different stakeholders in the society.

Article 2 - " Improper to raise minimum wage in battered economy, Hong Kong business leader says, warning more unpaid leave could follow move (SCMP, 27 Sep 2020) + Raising the minimum wage would be inappropriate in a struggling economy, a Hong Kong business leader said on Sunday, despite other places increasing what the lowest paid make per hour. Federation of Hong Kong Industries honorary president Jimmy Kwok Chun-wah defended the sector's suggestion the benchmark remain at HK$37.50 (US$4.80), and warned more workers could be forced to take unpaid leave, especially now that the government had decided not to extend the wage subsidy scheme. In contrast to Hong Kong, the hourly minimum wage in New York is US$15, and in Britain, the national minimum wage for adults over the age of 21 has been f6.50 (HK$64) an hour since 2014. While commission members from the labour sector called for an increment to at least HK$39, business sector representatives insisted it stay at HK$37.50 or be raised to just HK$38, saving the coronavirus outbreak had battered the economy. ~ Article 3 - Carrie Lam has said Hong Kong will consider a return to rent controls. But what are they? (SCMP, 17 Jan 2020)' ~ Tenancy control regulations that have been put aside for 16 years in Hong Kong will be reconsidered, city leader Carrie Lam Cheng Yuet-ngor said as she announced a raft of relief measures on Tuesday. Rather than regulating all flats, the government's focus this time will be on subdivided units the so-called shoebox flats often regarded as the last housing resort for the needy...