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IPFS News Link • Asia

Hong Kong's days as global financial hub may be numbered – Jim Rogers


Weeks of unrest have already taken a toll on tourism, stock and property markets, as well as the entire financial sector. Even before the recent shutdown of the airport by protesters, between July 14 and August 9, bookings to Hong Kong from Asian countries fell by more than 33 percent compared to same period last year.

The ongoing trade war between Washington and Beijing in addition to the protests affected the economic situation in the autonomous region, bringing the quarterly contraction in GDP to 0.4 percent in the three months to June. If the trend continues and losses extend in the third quarter, the city would technically fall into recession for the first time in decades.