The policy framework of multiculturalism allows minorities to express and practice their identities without requiring them to assimilate into the mainstream majority. Spatially, this often translates to the proliferation of ethnic enclaves in economically integrated ‘global’ cities. Enclaves have existed since the 19^th century, however the advent of globalization and the related policy environment has altered the meanings of these places significantly. It is in this context that I have studied Chungking Mansions - an ethnic enclave of predominantly African and South Asian immigrants and asylum-seekers in Hong Kong. The following broad concerns guide this study. How does multiculturalism affect the public character of the city? How does ‘class’ interact with ‘ethnicity’ in the formation of enclaves? How does immigrant agency create meaning and belonging in such places? And finally, how are these enclaves quintessential products of globalization, and how might we conceptualize them as such? The main findings are as follows. (i) Enclaves often act like urban enclosures, and in a very specific sense contribute to the privatization of the public sphere. (ii) The case studied shows considerable internal differentiation (in terms of identity, interests, capabilities and practices), so that various constructs from existing theory are unable to capture the socio-spatial formation it represents. (iii) Through local practices of everyday life immigrants and asylum-seekers negotiate their expectations with institutions of state-based and cosmopolitan citizenship, but in the process, also become subjects of these institutions. Finally, (iv) findings from the case lead to the idea of “market-culturalism”, a socio-spatial condition (or entity) whereby identity is expressed through the market, legitimacy sought through consumption, and interaction between communities is marked by a spirit of competition, with tensions persisting under the façade of cooperation.