News Article

‘economic typhoon’ warning for Hong Kong

Financial Secretary Paul Chan reported on a website that the protests of Hong Kong would also be prepared to face the “financial hurricane” triggered by the U.S.-China trade conflict and the latest political turmoil in the town.

The alert from Hong Kong’s chief finance agency arrived after last week reduced it’s 2019 development prediction to just as little as null, from 2% to 3% in the past year. The state has also taken a $2.4 billion bundle of expenditure to attempt to boost the economy— a step Chen compared to meat stocks that families collect to tackle a storm.

Chan stated that two months of demonstrations that closed off the airport closed roads and sent stock slipping troubled local economy at a moment when the trade war between the USA and China was already pulling supplies back.

Chan called the financial crisis a tier 3 risk and invoked the terminology used by the Hong Kong airport for warning storms. Level 8 essentially shuts down the town.

 

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