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Coronavirus: China deaths pass 560 as 10 more cruise passengers test positive – latest news | World news






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Hong Kong faces deepening economic crisis

Hong Kong’s economy faces a deepening recession as a result of the virus outbreak. Businesses in the territory have already been hit hard by months of sometimes violent street protests that have forced shops to close and transport to shut down.

A sign outside a shop in Hong Kong saying it has sold out of face masks, alcohol wipes, and alcohol gels.

A sign outside a shop in Hong Kong saying it has sold out of face masks, alcohol wipes, and alcohol gels. Photograph: Katherine Cheng/SOPA Images/REX/Shutterstock

The economy shrank 1.2% last year and economists at Fitch Solutions reckon it will contract by 2.6% this year with the vital retail sector brought ot its knees as the lucrative flow of Chinese tourists dries up thanks to the government’s new quarantine rules and airlines suspend flights in and out.

The sense of crisis has been heightened by panic buying in shops and supermarkets.

Read my full report here:





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NypTechtek
NypTechtek
Media NYC Local Family and National - World News

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