People wearing protective face masks as they make purchases from a convenience store in Hong Kong. The govt confirmed on Monday (Feb 3) it plunged into recession in 2019, suffering its first annual contraction in a decade as the city buckled under the twin pressures of the US-China trade war and months of unwanted pro-democracy protests and the ongoing coronavirus outbreak. - AP
HONG KONG: Hong Kong confirmed on Monday (Feb 3) it plunged into recession in 2019, suffering its first annual contraction in a decade as the city buckled under the twin pressures of the US-China trade war and months of unwanted pro-democracy protests.
The data was released as the semi-autonomous city begins the lunar new year facing another economic crisis -- the outbreak of a deadly new coronavirus strain which began on the Chinese mainland and is compounding Hong Kong's economic woes.
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