Hong Kong Entering Technical Recession Amid Ongoing Protests

Hong Kong is experiencing a technical recession with two consecutive quarters of economic decline. Financial Secretary Paul Chan highlights the comprehensive impact on the economy, with tourism dropping 37% year over year in the third quarter. Protests have led to retail closures and violence, including fires and gasoline bombs. Despite the withdrawal of a controversial extradition bill, protesters continue to demand an independent inquiry into police conduct and other reforms. The economic recovery depends on ending the violence and allowing society to heal.

What did Financial Secretary Paul Chan attribute to Hong Kong's economic recession?

• A global financial crisis

• A natural disaster

• Two quarters of economic decline

• Increased foreign investment

What was the percentage drop in tourism in Hong Kong during the third quarter?

• 37%

• 10%

• 50%

• 25%

What actions did protesters take during the violent protests?

• Organized peaceful marches

• Set fire to stores and threw gasoline bombs

• Held a press conference

• Negotiated with the government

What was one of the key demands of the Hong Kong protesters?

• Higher wages

• More public holidays

• Increased taxes

• Universal suffrage

According to Paul Chan, what is necessary for Hong Kong's economic recovery?

• Increased foreign investment

• Stopping the violence

• More government spending

• Reducing taxes