Hong Kong is due to unveil the depth of its first recession in a decade later on...
HONG KONG - Hong Kong is due to unveil the depth of its first recession in a decade later on Monday, as violent anti-government protests and trade tariffs between Washington and Beijing took more steam out of the economy in the final quarter of last year.
Hong Kong, which has so far seen 15 confirmed cases of the virus, has taken measures to reduce the flow of visitors from China where the death toll has risen to 361. The city’s retail and tourism sectors rely heavily on spenders from the Chinese mainland.The economy shrank by 3.2% in July-September from the previous quarter and 2.9% from a year earlier.
It was always going to be tough for Hong Kong to navigate 2019, with the U.S.-China trade war bound to hurt one of the busiest trading hubs in the world.
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