No Increase and Economic Slowdown by nep15574


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									Topic: Statistics

Hong Kong economy remains weak

Date: 08/08/2001

A government survey showed that businesses in the manufacturing, import and export,
banking and construction industries would remain weak because of the global
economic slowdown.

The statistics, conducted by the Census and Statistics Department, indicated that
exporters were pessimistic about the re-export value in the second half year.
Manufacturers and construction companies also expected no increase but possible
decrease in profits and orders.

The Banking industry expected a decline in the total export value, which had sunk
8.4% in June. Loan activities were also going to slow down. Business loans,
housing loans and even personal loans were expected to be falling.

The continuous weakness of Hong Kong’s economy was mainly due to the continued
fallout from Asian financial crisis and slowdown of US economy.

Discussions/Questions/Main Points:

1.   Please state reasons for the continuous decline of export industry in Hong Kong?

2.   If US economy starts recovering, do you think Hong Kong will follow suit?


1.   (Welcome to free discussion)

2.   (Welcome to free discussion)

[End of passage]

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