Hong Kong To Enter Recession After Protests Destroyed Retailers And Brought The City’s Tourist Industry To Its Knees

by MR Magazine Staff

Demonstrations in the semi-autonomous Chinese city erupted in June over a proposed extradition bill, but have since evolved to include demands for greater democratic freedoms. Retailers and local businesses have taken a huge hit as a result of the increasingly violent protests, and the number of tourists into the city has fallen dramatically. Third-quarter growth numbers, due to be released on Thursday, are expected to show a second consecutive quarter of negative growth for the city’s economy, Hong Kong Chief Executive Carrie Lam and Finance Secretary Paul Chan separately warned this week. Read more at Business Insider.