Recession hits Hong Kong as no finish in sight for anti-government protests

More than 5 months in to the anti-government protests which have shaken Hong Kong, Paul Chan, the city’s Financial Secretary says Hong Kong is in recession and the economic system is unlikely to develop this 12 months.
Thai PBS World stories that Mr Chan says the protests have had a devastating impact on the economy and that attaining the government’s forecast of 0-1% annual economic progress (issued earlier than the protests began) can be “extremely difficult”.
Determined protesters wearing black and wore face masks (despite a ban on the latter) on Sunday, setting hearth to buy premises and throwing petrol bombs at police. The authorities responded with tear fuel, water cannon, and rubber bullets.
Unauthorized seen as targets by the protesters are these owned by mainland Chinese corporations, together with banks. They have also vandalised the MTR, the city’s metro system, which has needed to shut down services in recent weeks.
The protests have triggered a big drop in customer numbers, that are down practically 50% this month. Mr Chan says the autumn in tourist numbers is an emergency for the town and is pleading with the protesters to do the best thing for Hong Kong.
“Let residents return to regular life, let business and commerce to operate usually, and create more space for rational dialogue.”
The Hong Kong protests started in June on account of a proposed extradition invoice that would have led to arrested criminals being sent to China for trial.
Classified has now been withdrawn nevertheless it sparked an uprising that has now escalated to become a wider, pro-democracy, anti-Beijing interference movement that shows no signal of ending anytime soon..

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