Hong Kong is expecting to have the first year of recession since the global financial crisis a decade ago.
Hong Kong The Hong Kong government is warning that six months of increasingly violent mass protests will cause the economy in the Asian financial hub to shrink this year.
A forecast published Friday by the government predicts Hong Kong's economy will contract by 1.3% in 2019, marking the first year of recession since the global financial crisis a decade ago.Hong Kong's first recession in a decade could be even worse than fearedHong Kong government economist Andrew Au said the forecast was slashed because of the pro-democracy protests, a synchronized global economic slowdown and trade tensions between China and the United States.
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