Hong Kong Chief Executive Carrie Lam takes part in a panel discussion at the World Economic Forum in Davos.
Lam must also now deal with the health, social and economic consequences of the coronavirus in China, openly admitting Hong Kong is extremely vulnerable due to the flows of people from the mainland. She expressed disappointment with the downgrade from Moody’s and acknowledged that negative growth was possible in 2019 and 2020.
“We don’t need a crystal ball to know that there are more changes and uncertainties ahead,” acknowledged Laura Cha, the chair of Hong Kong’s bourse operator HKEX. David Chiu, head of the Far East Consortium conglomerate, said it was Hong Kong’s status within China that would help it out of the crisis.
But Lam also emphasised that Hong Kong was an integral part of China with its own constitutional red lines that should not be overstepped.
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