“The virus outbreak has cast a cloud over an anticipated trade recovery and presented additional risks to an already lacklustre economy, ” said Yao Aidan, a senior emerging Asia economist at AXA Investment Managers.
Singapore-based banking giant DBS has downgraded Hong Kong’s economic forecast for this year from a positive 1.5 per cent of GDP growth to -0.9 per cent. Tse explained that Hong Kong not only reexports products from the mainland to the rest of the world, but also products from other places to the mainland.
It found that small and open economies with large mainland exposure are more vulnerable than large and inward-looking economies, and Hong Kong topped the list as the Asian economy most impacted.
They deserve bigger shit than that
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