Hong Kong should brace itself for impact of Trump measures, says financial secretary Paul Chan
Finance leaders sound the alarm with policies promised if global economy turns turbulent
In a blog post, Paul Chan wrote that he was considering rolling out “balanced and suitable” policies – to be announced in his maiden budget later this month – to ensure the city remained stable even if the world economy became turbulent.
“New US president Donald Trump and his team have been making controversial speeches and decisions almost every day after he was sworn in,” Chan wrote.
“They have at times criticised some major economies for depreciating their currencies to strengthen their own trade edges, raising worries that Trump’s new policies will be inclined towards protectionism.”
Chan wrote that Hong Kong, as a small economy, could not “lower its guard”, and “must constantly watch out for changes” in the outside world.