Hong Kong Economy Contracts 9 Percent in Latest Quarter


Source: conservativeangle.com

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Go to Article HONG KONG—Hong Kong’s economy shrank by 9 percent from a year earlier in the latest quarter, hurt by the coronavirus pandemic and facing more potential damage from the loss of U.S. trade privileges due to a security law imposed by Beijing. The performance reported Wednesday for the three months ending in June was an improvement over the previous quarter’s 9.1 percent contraction, the biggest since the government began reporting such data in the 1970s. Hong Kong, a center for trade, finance, and tourism, already was struggling before the coronavirus prompted the government to impose travel curbs and...