A man walks past a closed retail store in Wan Chai on April 30. Over 2,000 Hong Kong companies filed for bankruptcy in May. Photo: Xiaomei Chen
Opinion
Opinion
Inside Out
Expect the coronavirus pandemic bankruptcy tsunami to be worse than predicted
- The global economic recession will be worse than forecast, with bankruptcies in Hong Kong likely to exceed those during Sars and the global financial crisis
- Quick and cheap online dispute resolution systems are urgently needed across the region to reduce the pain
A man walks past a closed retail store in Wan Chai on April 30. Over 2,000 Hong Kong companies filed for bankruptcy in May. Photo: Xiaomei Chen