{"id":4041,"date":"2019-09-18T09:48:15","date_gmt":"2019-09-18T04:48:15","guid":{"rendered":"http:\/\/umang.pk\/2019\/09\/hong-kongs-summer-of-protests-leaves-economy-bruised-and-battered\/"},"modified":"2019-09-18T09:48:15","modified_gmt":"2019-09-18T04:48:15","slug":"hong-kongs-summer-of-protests-leaves-economy-bruised-and-battered","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/09\/18\/hong-kongs-summer-of-protests-leaves-economy-bruised-and-battered\/","title":{"rendered":"Hong Kong’s summer of protests leaves economy bruised and battered"},"content":{"rendered":"
\n
\n

In addition to Hong Kong's problem, the long-term crisis that struck the city's tourism industry coincided with the weakening of world demand and the conflict between China and the US trade war.<\/h3>\n<\/p><\/div>\n
\n \"On
\n

On September 6, 2019, we talked with a visitor in the Tian Tan Buddha Garden, the main tourist attraction of Po Lin Monastery, Lantau Island, Hong Kong.
\n(Reuters Archive)
\n <\/figcaption><\/figure>\n

After four months of protests on the Beijing Peninsula, Hong Kong is counting costs as the city's tourism industry has been beaten and companies have to lay off employees to lay off their employees.<\/p>\n

The image of roaming the world of black clad protesters, who are battling the police with full riot gear in the streets lined with shoppers in general, has led travelers to avoid the financial hub.<\/p>\n

And there are fears that unless protesters and the government show signs of withdrawal, things will not improve soon.<\/p>\n

Government data show that in 2003, the SARS epidemic killed nearly 300 lives, with the largest decline in foreign visitors in August since the city's widespread panic.<\/p>\n

Among the deadliest areas is Causeway Bay, a bustling commercial district with luxury brands when shoppers and bystanders shed tears of gas that shed tears on police-masked young people over the weekend.<\/p>\n

A neighboring pharmacist who asked for confirmation with his last name Chiu told AFP that overseas customers, which accounted for half of sales, have slowed slightly since the protests began in June.<\/p>\n

"Social atmosphere is not good," he added. He added that the gas cylinders bounce along the road and should continue to close the shop. He said the dose fell 40-50{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.<\/p>\n

"Local customers also seem to buy less."<\/p>\n

He said his business was worse than the umbrella movement in 2014. This caused the city to become congested after the blockade of the busy roads for a month.<\/p>\n

The number of tourists from all over Hong Kong has declined 40 percent last month, said the city's finance minister, Paul Chan, the largest group that led to a decline in the number of visitors from the mainland.<\/p>\n

Hotel utilization dropped by half, severely impacting the retail and dining sectors.<\/p>\n

In a blog post, Chan said, "I'm worried about the signs of improvement in the near future."<\/p>\n

& # 39; I don't know if we can survive & # 39; <\/strong><\/p>\n

In addition to Hong Kong's problem, the long-term crisis coincided with the weakening of world demand and the shrinking China-US trade war.<\/p>\n

Earlier this month, Fitch lowered the sovereign rating of the city, citing protests.<\/p>\n

Chan also reported that overall exports fell 5.7{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} annually in the first half, while seasonally adjusted economies fell 0.4{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in the second quarter.<\/p>\n

Nobody expects third quarter statistics.<\/p>\n

Crucially, the number of visitors from mainland China plunged after criticizing their lives for Beijing's protesters several times, which compared anxiety to "terrorism".<\/p>\n

Jessica Wan, a spokesman for Hong Kong's travel industry council, told AFP that the number of mainland tour groups heading into the city plummeted by 90 percent during the first 10 days of September.<\/p>\n

Cathay Pacific, Hong Kong's flagship airline, also reported an 11{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} drop in the number of passengers in August, when two occupations at the airport were blocked by departure gates and hundreds canceled.<\/p>\n

The airport recorded about 850,000 passengers, a monthly decrease of only 12.4{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.<\/p>\n

Several other companies told AFP their profitability was deteriorated by the controversial long-summer complaints that sparked controversy over fears of tightening Beijing's control over the city and eroding valuable treasures.<\/p>\n

After more than a million people marched to protest the bill since June, watch store managers said they had to lay off half of their workforce.<\/p>\n

"Along the road, you can see that several watch shops are already closed," Wong's surname manager said. "I'm pessimistic. I don't know if I can survive the new year."<\/p>\n

Protests tend to happen all weekend. His two days are usually the busiest days of his shop.<\/p>\n

On the other side of Mong Kok harbor, companies said they are closing regularly to avoid outside proximity.<\/p>\n

The area around the neon-filled retail district saw increasing violence, with protesters barricading major roads and destroying local subway stations.<\/p>\n

A vendor selling imitation designer handbags at a late-night outdoor market stall said it had cut five times its average sales earlier this year.<\/p>\n

The pharmacist Chiu seemed to be torn between compassion for protesters and protection of livelihoods.<\/p>\n

"I don't support the damaged facilities, but I'm terrible to see them being beaten by the police," he told AFP.<\/p>\n

He said that other shops were closed, and that water was supplied outside the shops for protesters during street street rallies.<\/p>\n

"I support young people," he said. "But I run a business."<\/p>\n

Source: AFP<\/p>\n<\/p><\/div>\n<\/pre>\n<\/pre>\n

Source Link : https:\/\/www.trtworld.com\/business\/hong-kong-s-summer-of-protests-leaves-economy-bruised-and-battered-29893?utm_source=other&utm_medium=rss<\/p>\n","protected":false},"excerpt":{"rendered":"

In addition to Hong Kong's problem, the long-term crisis that struck the city's tourism industry coincided with the weakening of world demand and the conflict between China and the US trade war. On September 6, 2019, we talked with a visitor in the Tian Tan Buddha Garden, the main tourist attraction of Po Lin Monastery, […]<\/p>\n","protected":false},"author":1,"featured_media":4042,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/4041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=4041"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/4041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=4041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=4041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=4041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}