Well, it's official now, coinciding with our stay in this ultra-capitalist city, the local government has officially declared that HK has gone into recession, i.e. that is 2 quarters of negative GDP growth or contraction.
What do ordinary people think of it? Having talked with several, all of them are gloomy, HK factories in China closing down (to date, more than 7000 and counting this year alone, retrenchment of Hong Kong peeps who used to work in China, Hong Kong dudes who were working in Macau (constructing the casinos and operating them), local businesses who lay off massive amount of staff (today HSBC, undoubtedly HK's largest bank and a household name worldwide, laid off 450 staff.......and certainly more to go in the near future).
During weekdays, shopping malls are eerily 'quite' and almost as desolate during the SARS crisis a few years back, and Xmas season has barely started.
How does it affect us personally? Any offers or discounts are way to go, having our meals at 'discount' hours, shopping around for the best bargain.....
But in the end, it is our holiday and we do as we please.......rest, rest and rest and yeah, the additional grams have already added up....grmmmbbllll.
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