The ongoing political battle in Hong Kong threatens to be the focal point of the global economy's recession.

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New delhi date. 23 August 2019, Friday

The current political battle in Hong Kong could be the focal point of a downturn in the global economy, said an economist at Harvard University. Citing various shocks, including the US-China trade war that shakes the global economy, economist Carmen Reinhart said Hong Kong is one of his main concerns.

The current unrest in Hong Kong is a major concern for itself, which can affect the development of China and Asia, he said in a TV interview.

These have no limited regional effects. The global consequences of this will be seen. And early levels can cause severe depression worldwide. Anti-government protests, which began three months ago, are putting pressure on Hong Kong's economy, which has already shrunk due to China's recession and the trade war.

Meanwhile, in the wake of the recent public uprising in Hong Kong, there has also been a blow to the trade and industry. While Hong Kong is the diamond hub of the world, there are fears that the country's diamond and jewelery display programs will be lost. India has been a big diamond trade with Hong Kong.

While many of the country's traders, industrialists, exporters are participating in the exhibition held in Hong Kong, their trade is currently being lost due to the agitation. Hong Kong is indeed experiencing problems, not spreading to other international markets, Boston Federal Reserve Bank President Eric Rosengren said a day ago.


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