Hong Kong that is known as the world’s hub for hubs for almost 40 sectors, industries as well as trades has already been struggling due to the ongoing U.S.-China trade war. But, now with the escalating anti-government protest is leading the region towards an economic crisis that has also been the semi-autonomous region of China, a buyer’s paradise & gourmet destination for masses of tourists every year.
On the other hand, as per the recent report by the World Bank, Hong Kong is rated among top 3 economies with business enhancing climate reforms, however the biggest equity deal across the world that was expected to unfold in Hong Kong this month has been kept on hold, which is followed by the exceptional profit warnings by banks driving the economy towards the 1st recession in the decade.
When the effect of protest was mild as per the sources than the economy shrank by almost 0.4 percent in April-June quarter from the last quarter. When the protests were spreading across the region it instigated further slowdown along with disrupting traffic, paralyzing shopping & tourist zones, also closing down the city’s sprawling airport many times.
Here is a Highlight of report by Hong Kong Trade Development Council (HKTDC) published recently:
The Hong Kong chaos with all its growth pillar under stress is not only segmented to the regional impacts but could lead to even global crisis or recession. According to some experts this political unrest in Hong Kong might possibly spill over international markets extensively.
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.
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