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HK's 2019 Recession

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  1. #31

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    Quote Originally Posted by mrgoodkat
    The last time I checked Taiwan's per capita GDP was higher than that of even Shanghai, arguably China's most developed city. It's also more than double China's.
    Yes, Taiwan businesses are good at making money, but the gap between rich and poor is pretty bad, with expensive housing. Taiwanese salaries are a fraction of what they are in Hong Kong. There's a million coffee shops because young people don't know what else to do. At least rent's cheap. GDP doesn't tell the whole story. Taiwan's largest companies (Hon Hai, Pegatron, and TSMC) have most of their jobs in China. (Look at this from Wiki: As of March 2010, Pegatron had approximately 5,646 employees stationed in Taiwan, 89,521 in China, 2,400 in the Czech Republic, 200 in each of the United States, Mexico and Japan.)

    I'm not saying Taiwan is poor, but like a lot of Asian countries it's a very V shaped with tons of lower income and rich, and not enough in between. But yes, it's a good place to live in for sure. I'll probably go back to retire there.

  2. #32

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    The seasonally adjusted headline IHS Markit Hong Kong
    Purchasing Manager’s Index™ (PMI™) fell to 39.3 in October,
    down from 41.5 in September, signalling the worst deterioration
    in the health of the private sector since November 2008.

    The headline PMI is a composite single-figure indicator of
    economic performance derived from indicators for new orders,
    output, employment, suppliers’ delivery times and stocks
    of purchases. Any figure greater than 50.0 indicates overall
    improvement of the economy.

    Not only did business activity across the private sector shrink
    further in October, but the rate of decline was the fastest since
    the survey began over 21 years ago. According to anecdotal
    evidence, protest-related disruptions continued to dampen
    economic activity, particularly in the retail and tourism sectors.
    https://www.markiteconomics.com/Publ...53137f?noembed

  3. #33

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    And restaurant receipt numbers are in ...

    The value of total receipts of the restaurants sector in the third quarter of 2019, provisionally estimated at $26.4 billion, decreased by 11.7% over a year earlier.
    A Government spokesman noted that restaurant receipts deteriorated sharply in the third quarter and registered the largest year-on-year decline since the outbreak of SARS in the second quarter of 2003.
    HK 3Q19 Restaurant Receipts Dive 11.7%, Gravest Since SARS

  4. #34

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    Last quarter data will be interesting factoring in 10pm curfew, will literally bring SARS back i guess..


  5. #35

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    Quote Originally Posted by shri
    And restaurant receipt numbers are in ...

    HK 3Q19 Restaurant Receipts Dive 11.7%, Gravest Since SARS
    Honestly, I'm surprised that it's only 12%. Must be a lot of restaurants who only take cash and not reported anyway. Would have expected something like 30%.

  6. #36

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    Quote Originally Posted by jack55
    Honestly, I'm surprised that it's only 12%. Must be a lot of restaurants who only take cash and not reported anyway. Would have expected something like 30%.
    Large chunk of dine-in business is replaced by take-aways, foodpandas and all are booming so 12% sounds right considering protests mostly happen during weekend and there was no curfew or frequent attack on blue restaurants in last quarter..

  7. #37
    bdw
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    Quote Originally Posted by freeier
    I really wonder, of many of us so called 'expats' working in hk, how many of us are actually working in a position that serves mainly hk clients ? i think very very few. I know i am one, but my guess is most are station in HK cos of its position in the central of the region, and most time and most businesses are actually from China.
    I think very very few of us 'expats' in HK actually work full stop. Most of us just browse geoexpat all day and do sweet f*ck all

  8. #38

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    https://mobile.twitter.com/HongKongH...80441503576064

    What I think whenever they talk about the economy...
    shri and MatthieuTofu like this.

  9. #39

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