Heiwai Tang
Heiwai Tang
Heiwai Tang is professor of economics and associate director of both the Asia Global Institute and the Institute for China and Global Development at the University of Hong Kong. Prior to joining HKU, he was tenured associate professor of international economics at Johns Hopkins University. He is also affiliated with the Federal Reserve Bank of Dallas in the US, the Centre of Economic Studies and Ifo Institute (CESIfo) in Germany, and the Globalisation and Economic Policy Centre in the UK as research fellow. He has been a frequent consultant to the World Bank, International Finance Corporation, United Nations, and Asian Development Bank.

With neighbour Shenzhen poised to pull ahead, Hong Kong needs an economic transformation of its own: it must end its reliance on the financial industry and focus on creating rewarding, good-paying jobs that benefit more than a few.

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The pandemic is hurting small businesses, and companies that survive Covid-19 shutdowns may find themselves with less competition. This is what we have seen following the Spanish flu pandemic and the September 11 attacks.

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The slow initial response to the threat of Covid-19, the shortage of testing kits and confusion over who can get tested are symptom of long-term structural problems in the country’s health care system.

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Both the government and businesses are eager to restart and revive the economy. But as millions pile back into factories, cafeterias and dormitories, the risk is that a second wave of Covid-19 could pose even bigger risks to the system.

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