HONG KONG
Snapshot
In the fourth quarter, GDP decelerated to a 3.0% annual expansion due to softer growth in the domestic sector. Going forward, stable labour conditions and healthy tourism are expected to buttress economic activity. In the political arena, the scandal over Henry Tang’s illegal building extension is jeopardizing the expected smooth transition ahead of the 25 March election. Tang, the front-runner to become the city’s next leader, was backed by most of Hong Kong’s business and political elite, as well as by the government in Beijing.
Forecasts
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