Hong Kong on brink of recession as trade war, political protests escalate


  • World
  • Friday, 16 Aug 2019

FILE PHOTO: Anti-extradition demonstrators run from tear gas after a march to call for democratic reforms in Hong Kong, China July 21, 2019. REUTERS/Tyrone Siu/File Photo

HONG KONG (Reuters) - Hong Kong is on the verge of its first recession in a decade as increasingly violent anti-government protests scare off tourists and bite into retail sales in one of the world's most popular shopping destinations.

The economy shrank 0.4% in April-June from the previous quarter, revised government data showed on Friday, and conditions have sharply deteriorated since then as demonstrations spread, closing the airport at one stage and paralysing prime shopping areas.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

US ‘swatting’ pranks stoke alarm in election year
G7 identified "specific steps" to help Ukraine, Kuleba says
Tech neck is a pain in more than just the neck
Ukraine says it took down Russian Tu-22M3 strategic bomber
Finland says EU should help end migrant influx from Russia
Shopper put phone under woman’s skirt, US cops say. Then police checked store video
Ukraine's growing arms sector thwarted by cash shortages and attacks
Bomber crashes in Russia, Interfax says
Meta's newest AI model beats some peers. But its amped-up AI agents are confusing Facebook users
Google is combining its Android software and Pixel hardware divisions to more broadly integrate AI

Others Also Read