Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.HK Government economist predicts growth
By Administrator |
Hong Kong Government Economist Helen Chan has told leading newspaper The South China Morning Post that this quarter could see a halt to the decline in the Hong Kong economy, or even some partial growth
if exports in May and June remain stable.
In a leading article published by the newspaper today, Chan said that today's slump – while serious – was still not as bad as the Asian crisis in 1997 where Hong Kong experienced a year and a quarter of decline.
She also pointed to signs of stabilisation in the global and mainland China economies, but warned that any recovery in the Hong Kong economy is likely to be a gradual process. The Hong Kong Government's HK$87.6bn ($11.3bn) in economic stimulus aid had also helped, she said.
Needless to say, there are those who do not agree with her observations, arguing that it is too early to make such predictions.
The full article appears in The South China Morning Post today at www.SCMP.com.
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