What’s going on?
Hong Kong has so far been successful in containing the Covid-19 outbreak. The government is supporting consumers and companies, though its biggest support package only came earlier this month.
And Hong Kong banks started raising bad debt charges last year, as violent protests kept visitors away from the financial hub. The global slump will squeeze its economy, which is dependent on tourism and finance.
So far, however, Hong Kong’s financial system is holding up. (By Peter Thal Larsen)