Slow business: A salesman waits for customers at a cosmetic shop in a shopping district in Hong Kong. The city is in a technical recession after it contracted for a second straight quarter. — AP
Hong Kong is in technical recession, while Singapore narrowly evaded one, charting a growth of a measly 0.1% in the third quarter. The United States, Europe and Britain are all experiencing a slowdown in the economy.
Except for Hong Kong, where the economy contracted by 3.2% in the third quarter after a 0.5% negative growth in the second quarter, the slowing economy in the other countries is due to the trade war. The trade war has caused a disruption in the global supply chain and a relocation of manufacturing facilities.
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