ZeroHedge
Beijing warned last week that Hong Kong was headed for the worst
recession on record as full-year GDP forecasts were downgraded to
between -4% to -7%. Estimates in February
were roughly -1.5% contraction to +.50%, though the pandemic has
undoubtedly created an economic shock that has roiled the city.
There are some signs that the virus spread is slowing in Asia.
However, Iris Pang, Greater China economist at ING, warned that "social
distancing "will continue to hurt catering and shopping." She warned
that more Hong Kong protests are expected "over the summer holidays."
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