One of the world's most expensive cities just raised the minimum wage by 32 cents an hour — and it's getting absolutely slammed for it

• Financial hub Hong Kong is one of the world's most expensive cities.
• On Monday, the city raised its minimum wage by 32 cents to about $5.1 per hour.
• Labor activists and welfare groups panned the measly increase, saying it's not enough.

Hong Kong, one of the most expensive cities in the world, just raised its minimum wage by 32 cents an hour — and it's drawing tons of backlash over the paltry increase.