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.

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