Resolving the increasingly violent protests in Hong Kong will most likely fall to an influential group of Beijing’s local allies. No End to the Hong Kong Protests Consumer spending dropped to HK$29.9 billion (US$3.83 billion) for the month after a record 22.9% fall in August. Retail in Hong Kong was hard-hit Due to civil unrest Hong Kong's economy is fading.
Hong Kong has confirmed it has entered its first recession for a decade. GDP expected to fall 1.3% for the full year.
Hong Kong-incorporated companies are relocating to other parts of Asia depressing demand in the Hong Kong economy.
The downturn will ripple through the local property market.
The Hong Kong government announced an additional HK$4 billion (511 million USD) in economic stimulus. Bo Zhuang says Hong Kong’s latest round of stimulus is unlikely to be enough to reverse the trend in the economy.