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Ex-HK Govt Economist: HK Econ Growth Not Create New Job Opportunities, Affecting Consumption Mkt
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Since 2023, Hong Kong's economy has maintained a restorative expansion, but many seem unable to feel the benefits of economic growth, with the consumption market remaining sluggish, Andrew Au, former government economist, published an article in a newspaper today (24th) saying. He believed that recent economic growth momentum was primarily driven by external goods trade and financial activities, which are not widespread and have not directly created new employment opportunities. Furthermore, Au noted that the increased uncertainties in living conditions and job prospects led to heightened anxiety and concerns, resulting in increased savings and reduced consumption among citizens. The uncertainties are mainly due to the rapid rise in global geopolitical risks, unclear adjustments in the property market and economic transformation. He called on the community to ponder whether Hong Kong is experiencing an “economic recovery with no employment”. AASTOCKS Financial News Website: www.aastocks.com |
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