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Beijing will do what it takes to support HK’s economy [Copy link] 中文

Rank: 4

Post time 2019-9-6 17:28:02 |Display all floors
Concerns over a possible recession are growing in Hong Kong as the city's economy faces its worst crisis since the global financial crisis in 2008.

A string of recent indicators underscored how the riots in Hong Kong are affecting the city's economy. The tourism industry is one of the major pillars of the local economy, but some statistics show tourist arrivals were down 31 percent in the first week of August compared with a year earlier.

An economic storm has formed, and it will inflict losses on a wide range of areas including tourism, retailing, finance and real estate. The economy is having a hard time. The downside risks have drawn close attention from the central government and local authorities in the Hong Kong Special Administrative Region (HKSAR). Neither of the authorities has any intention of ducking the questions faced by the HKSAR's economy.

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor said on Wednesday that she will take four actions to start dialogue and end unrest in the city. Her words can be seen as a signal that the HKSAR government will take more active measures to manage risks and control crises. The HKSAR government is making efforts to restore business confidence. Ending persistent violence is the first step to prevent Hong Kong from falling into recession.

Beijing firmly supports the HKSAR government's actions to stabilize the economy. The central government won't allow economic chaos to engulf the city. In 1997, Hong Kong was subject to speculative attacks and faced immense pressure on its currency. The reason why Hong Kong could survive as a global financial hub was because of support from the central government.

Now, Beijing has greater strength to maintain the stability of Hong Kong's economy amid internal and external attacks and maintain its position as a global financial hub. The central government has various tools that it can deploy to reach this goal.

Hong Kong has chronic economic problems that some observers claim are the deep-rooted reasons for riots in Hong Kong. A key issue will be to offer development opportunities to the city's young people. The central government will not be stingy in supporting the Hong Kong economy and helping Hong Kong solve its chronic problems.


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Post time 2019-9-7 10:10:48 |Display all floors
In 1960 or so when many Chinese ordinary people went hungry due to the lack of food from  the three-year- period of the natural disasters, the central government did all means to collect enough eggs, pork etc. to ensure the normal life of the Hong Kong citizens! We always take that special area as one part of motherland even when it had been controlled by the British authority! This is worthy for the struggling on politics and economy!
Childish pure  mindset can simplify your life which let you live in a light way! Without man-made troubles you will work in high efficiency!

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Post time 2019-9-7 18:12:04 |Display all floors
SEARU Post time: 2019-9-7 10:10
In 1960 or so when many Chinese ordinary people went hungry due to the lack of food from  the three- ...

During the period that you mentioned the motherland had a closed door policy which meant that it greatly restricted trade with overseas countries. Hong Kong could avoid problems of food shortages as it was open to the world and could freely exchange imports and exports. While schools and colleges were closed, grass grew on empty roads, gangs roamed at will, people starved, business greatly restricted, temples closed down on the motherland, HK thrived as it faced none of these issues.

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Post time 2019-9-7 21:51:30 |Display all floors
Newtown Post time: 2019-9-7 18:12
During the period that you mentioned the motherland had a closed door policy which meant that it g ...

No! You are not familiar with  the true stories taking place between Hong-kong and mainland in the past decades! We had had ‘three flying trains’ which transporting living pigs and fresh vegetables from the inner land to the ‘island’. Aboard the train the railway workers fed the animals carefully to make sure the creatures would be still healthy enough before being killed in the market; In the vegetable carts some workers had to stand closed to ice pieces in order to keep the plants fresh who suffered leg-illness when they retired!
The Hongkong people have benifit from the ’milk’ from the motherland for so long!
(The prices of pork and vegetables would be too high for the local people to accept  if they import ‘fresh’ things from America! )   
Childish pure  mindset can simplify your life which let you live in a light way! Without man-made troubles you will work in high efficiency!

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Post time 2019-9-8 10:52:30 |Display all floors
Yes, BJ will do everything, PROVIDED rioting stops and ppl go back to normal life, to work, to business and to school!  Unfortunately, it seems rioting is not going to stop soon, so there is not much BJ can do now!  Wishful thinking!

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Post time 2019-9-8 11:01:45 |Display all floors
Newtown Post time: 2019-9-7 18:12
During the period that you mentioned the motherland had a closed door policy which meant that it g ...

"... temples closed down on the motherland, HK thrived as it faced none of these issues."

Which makes it even sadder that HK today is mired in chaos, while Mainland is having a great time, people happily spending like there is no tomorrow, while their HK compatriots suffer disruptions to lives and businesses in pursuit of some elusive dreams!

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Post time 2019-9-8 11:04:34 |Display all floors
SEARU Post time: 2019-9-7 21:51
No! You are not familiar with  the true stories taking place between Hong-kong and mainland in the ...

"The Hongkong people have benifit from the ’milk’ from the motherland for so long! "

So, HK people must be very ungrateful!

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