(slowly becoming irrelevant?????)
hong-kong-continues-slip-could-lose-spot-among-top-5-container-ports-2018
Source: The Edge
https://www.theedgesingapore.com/hong-k ... ports-2018
On Tuesday, the US proposed 10 per cent tariffs on another US$200 billion worth of Chinese goods, including consumer products such as clothing and shoes, air conditioners and refrigerators, and food, pending a hearing in Congress in late August.
Trade and logistics industries were vulnerable to risks.
As the trade war bit, Hong Kong banks could tighten lending.
I am particularly reminded of July 1, 1997, the day the Thai Baht crashed. By early 1998, our economy was facing its worst crash in decades.
We have more than 100,000 trading companies. Many of them are tiny, but they still employ more than 800,000 people. They often depend on a single relationship with a single manufacturer exporting from the mainland.
An estimated 70,000 Hong Kong-owned manufacturing plants operate in the Pearl River Delta region, most of them in export processing. “The common worry is what happens next is going to hit us harder because it covers more consumer goods such as textiles, garments, food and electronics.”
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