Hong Kong’s zero-tolerance approach to Covid-19 could keep the Asian financial hub cut off from most of the world until 2024 and fuel a large-scale exodus of international workers and executives, according to a draft report by the European Chamber of Commerce in the city. The most likely scenario for Hong Kong’s exit from its isolation is to wait for China to finish developing a powerful messenger RNA vaccine and immunize its 1.4 billion people, the business group said in an internal document seen and verified by Bloomberg. A reopening could then happen late next year or early 2024, the document said, adding that companies should prepare for Hong Kong to remain “semi-closed” to international travel. [time-brightcove not-tgx=”true”] “We anticipate an exodus of foreigners, probably the largest that Hong Kong has ever seen, and one of the largest in absolute terms from any city in the region” in recent history, the report said. That would make Hong Kong less diverse and less appealing to international firms, and eventually limit its potential to contribute to China’s economy, the report said, adding that global companies should plan to have regional offices in other Asian cities instead of the former British colony. It’s unclear whether the European Chamber’s assessment will change in the final version of its report.
Similar Stories to Hong Kong Could Remain Cut Off From World Until 2024, Business Group Says on Bing News
Michelle Fay Cortez and Iain Marlow/Bloomberg, Time: World
Wed, 01/26/2022 - 12:08am
Topics: asian commerce rna bloomberg ldquo;we china&rsquo british it&rsquo chamber&rsquo u u flight waiting china deaths covid zero kong european chamber hong u remain cut world business group report city outbreak scenario approach uncontrolled reopening global rest document vaccination scenarios result border mainland workers draft bans financial exodus largest companies future firms including travel adding focus open businesses months prepare
BING NEWS:
- Cathay can fly high again once it restores a sense of family
Cathay’s mass lay-offs led to a staff shortage when it needed qualified personnel the most, and service suffered. The Cathay brand will regain its global network with commitments to enhancing service ...
05/5/2024 - 4:30 am | View Link - Convert Hong Kong Dollar To United States Dollar
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.
05/5/2024 - 3:50 am | View Link - Pucker up Hongkongers: lemon-tea shops from mainland China want to wet your whistles this summer and beyond
Mainland China-based chains including Linlee, Lam Heung Ling, Jo's Cha, The One Lemon Tea and LMM are drawing queues in Hong Kong The city presents a different flavour of business challenge than the ...
05/4/2024 - 2:30 pm | View Link - Hong Kong property deals double to near 3-year high as scrapping of cooling measures spurs buying demand
However, property sales this month are likely to moderate as fading hopes of a cut in interest ... to Hong Kong’s housing market – they are mainly mainland residents at the moment.” How Hong Kong's ...
05/3/2024 - 7:30 am | View Link - Investors bet weaker US payrolls spur more Fed interest rate cuts
Global shares rose on Friday as investors bet that news of slower-than-expected US non-farm payrolls jobs growth would give the Federal Reserve ...
05/3/2024 - 3:32 am | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more