Today, Hong Kong faces great economic uncertainty and unprecedented market volatility. Recently, Hong Kong’s financial secretary John Tsang Chun-wah warned that the city’s economy is facing its “worst time in 20 years.” In the past half a decade, growth has more than halved close to 2.5 percent. With Brexit chills, analysts expect a contraction.
However, the writing has been on the wall since the global financial crisis. Yet, critical decisions have been delayed.
Growth engines fading