Subprime Lending peaked its height in 2005. The Global Economic Bubble started to burst in the following year. The magnitude was so large that it spread across the continents like a plague.

Subprime Lending peaked its height in 2005. The Global Economic Bubble started to burst in the following year. The magnitude was so large that it spread across the continents like a plague.

 

World Leaders immediately got together to strategize for remedial plans and damage control. Unfortunately, no concrete solution was found. Economists and financial experts were open to suggestions, but none of the remedial actions seems to stop the bleeding. The Wall Street was slammed.  European Countries started to react with Governmental financial backing and government takeovers. Some Countries were on the verge of Bankruptcy. It seemed that the only action we can take is to wait for the economic tsunami to wind down.

 

For the fastest growing country in the world, China, they are also facing their fair share of impacts. They had their record economic slow down throughout 2007-2008. The government immediately reacted, re-grouped and consolidated. In the year 2009, China had put the downward spiral under control. Although the threat is still haunting, clear signs of improvement were reported. As a result, the Hong Kong Special Administration Region (S.A.R.) had benefited from the immediate Chinese economic actions.

 

Encouraging economic growth was shown in the “2009 Hong Kong Financial Report”. The following information and data are quoted from Hong Kong governmental publications.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here