Financial Secretary Paul Chan Mo-po announces the first basket of economic support measures on August 15. Photo: Winson Wong
The View by Nicholas Spiro
Hong Kong has billions in fiscal firepower but, with a lack of credible governance, the city is powerless to fight a recession
Hong Kong is in recession, confidence levels are at a historic low, and yet the government is spending less than 1 per cent of the city’s GDP on recovery. Then again, the Carrie Lam administration might lack the credibility to do more
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.