Hong Kong's waning economic resilience

Asia's economies have so far managed to escape the economic crisis in Europe and the US.
But that resilience seems to be waning as fears grow that Hong Kong - a regional economic powerhouse - could slide into recession.

As Al Jazeera's Rob Mcbride reports from Hong Kong, the banks especially have been scaling back, even the ones that managed to ride out the financial tsunami.

Category:

News & Politics

Tags:

• asiapacificnews
• Hong Kong
• China
• Asia
• China economy
• Asia economy
• economy
• Rob Mcbride
• Al jazeera Asia
• Al jazeera china
• economic crisis

[moverling5]

China says, "don't blame us for taking jobs from every other country"

The 1% in America say "yes, blame them for us making a larger profit from cheaper labor"

I think it's a consentual screwing here.

[HDaviator]

@RayKalmNiam

I have always heard the New York comparison, but Hong Kong is different in that its not communist and its independence from China's mainland government, means that what happens in Hong Kong does not necessarily represent what is happening in the rest of China and viceversa. I am not saying that its not part of China, because it is, but I think people need to look at these two places separately.

[halite001]

0:44-0:50 What you don't see is the reporter being run over by the streetcar.

[InfidelAvenger]

The ultimate problem is not China or Europe. It's supply-side economics. Supply side economics does not work, period. It's not even economics. Economics start with demand -- increase demand or goods and services and built factories to meet that demand.

[masluxx]

they let the emplyees go and then hired them back at a discount, now the banks are blaming others on thier cost reduction(profit increasing) plans.....you have got to be kidding me....

[funkyboodah]

great story, good narration, good construction, interesting topic. Good job AJ.

[t4705mb6]

Seven billion plus human beings: SUCKERS!!!