HONG KONG - Hong Kong’s economic growth is expected to have picked up in the second quarter, analysts say, but the outlook is being clouded by the protracted Sino-U.S. trade war and spiraling social unrest.
While preliminary data on Wednesday is expected to show economic growth picked up in April-June, most market watchers do not expect it will last, with no quick resolution seen for either the bruising U.S.-China trade dispute or local political unrest. “Going forward, the Sino-U.S. trade war impact is expected to have a more material impact than that from protests.”
Tang said his bank may cut its 2019 growth forecast again if the sharp decline in exports persists. It earlier lowered the forecast to 1.5% from 2%. Standard Chartered has lowered its 2019 Hong Kong economic growth view to 1.4%, from 2.2%, and to 2% in 2020 from 2.6%.PROTESTS TAKING BIGGER TOLL Retailers saying they expect sales for July and August to drop by double-digits from a year earlier, while hoteliers are bracing for a wave of cancellations.
Hong Kong's worst enemy is itself with rampant corruption and air pollution! And of course, last but not least tariffs
I nearly said New York city until i saw that glass house.. Beautiful
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