Escalating Hong Kong protests taking bigger toll on shops, economy [Toronto Globe and Mail (Ontario, Canada)]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: Toronto Globe and Mail
Escalating Hong Kong protests taking bigger toll on shops, economy Months of increasingly violent protests in Hong Kong are taking a growing toll on the city’s economy, weighing on confidence and scaring away tourists from one of the world’s most vibrant shopping destinations. Economists say the impact of anti-government protests over the past eight weeks is already worse than in 214, when a so-called “Umbrella revolution” paralysed the city’s financial district for 79 days. Demonstrations are more spread out across the city this time and violence has been more intense, prompting local and foreign shoppers to avoid certain areas. Stores and even bank branches have been forced to close for prolonged periods. Story continues below advertisement Many businesses in the port city on the southern Chinese coast are already facing strains from China’s economic slowdown and fallout from the year-long Sino-U.S. trade war. Various strikes are planned in coming weeks, while disruptive civil disob
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