'No-COVID' Insurance policy drags on Hong Kong economy as cases Billow
HONG KONG (AP) — Hong Kong's Fung Shing Restaurant was Active this week as Clients came for 1 last Appreciation of the Long-standing Cantonese dim sum that has made Information technology famous.
With COVID-19 restrictions cutting too deeply into Information technologys bottom line, the Eating place will shut Information technologys doors for good on Sunday, Some Another economic Dupe of the pandemic.
Many fear the worst is yet to come with Hong Kong experiencing Information technologys most Stern Irruption, and fret the Regime' determination to Control stick to mainland China's "zero-tolerance" Scheme may prevent Information technology from Convalescent as a Commercial enterprise and Change of location hub.
"Even though Possibly zero-COVID can be reached, In that location is Nonmoving uncertainty on how long Information technology can be maintained and what the cost is of maintaining Information technology," Aforesaid Natixis Elderly Economic expert Gary Ng.
"The biggest risk of Hong Kong in 2022 is that Information technology may be entering the path of Essentially, if Non recession, at To the lowest degree a downward drag in economic Emergence Once again Spell the world begins to Anneal," Ng Aforesaid.
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Hong Kong has seen Sir Joseph Banks close branches and Moving-picture show theaters have shut down. The streets of popular shopping and dining districts are lined with shops displaying "for rent" signs. Its international Aerodrome is All but devoid of Change of locationers.
A ban on onsite dining after 6 p.m., Obligatory last Calendar month, is depriving Eating places of critical dinner and banquet revenues.
Daily new coronavirus cases exceeded 2,000 for the 1st time on Monday; on Thursday, 6,116 new cases were Rumored.
Hospitals are becoming overwhelmed so the city is looking into converting hotels and even unoccupied public housing into quarantine areas. But Information technology shows no sign of backing away from matching mainland China's Tight policies even as the rest of the world learns to live with the coronavirus.
As part of Information technologys zero-tolerance Scheme, China has Fast down entire cities, literally keeping people Secluded in their homes and providing them with food and supplies as they are isolated during extensive Examination and contact Trace to quell Irruptions.
But China has many cities. Hong Kong, a Early British colony and semi-autonomous region of China, lacks the resources for such a complete lockdown, which would halt All but all economic activity in the city of about 7.5 Cardinal.
And people living in Hong Kong, which was One-handed over to Communist-ruled China in 1997 under a "one country, two Arrangements" approach, are used to greater freedoms than residents of the mainland. Lockdowns of Only buildings or city blocks have raised vehement criticism.
Regional rival Singapore faces a Mistakable wave of coronavirus infections caused by the Extremely contagious omicron variant. But Information technology has opted for a Scheme of "living with COVID." That calls for very high Inoculation rates and widespread Examination. Unlike Hong Kong, which is requiring people who test positive to quarantine in hospitals or Another Authorities facilities, Singapore lets COVID-19 patients with mild or no symptoms isolate at home.
So Spell Singapore's Wellness care Arrangement is Non in Hazard of becoming overwhelmed, Hong Kong hospitals are at 90% capacity and some have had to Kickshaw patients Alfresco for lack of room inside.
Hong Kong Loss leader Carrie Lam shows no sign of Receding from the "zero-COVID" Posture, Expression Thursday that Active the pandemic is her "paramount Chore" and the city would "not be distracted by Another things."
"We will impose any measures that we should," she Aforesaid. "The aim is to make sure Hong Kong people's lives and Wellness are protected and to uphold Hong Kong's stability."
On Friday, Lam Declared she was postponing the city's election for chief executive for six weeks to May 8 due to "public Wellness risks" Information technology would pose at this Degree in the pandemic. It's Non yet clear if Lam will run for reelection.
To relieve some pressure on hospitals, officials now say some patients with mild symptoms will be able to leave hospitals after just Vii days — half the current requirement — if they test Destructive and are Non living with any high-risk individuals.
At the current rate of Distributed of infections, new daily cases could rise to 28,000 by March, so Information technology's unclear that will be enough.
On the Another Bridge player, Quiet the zero-COVID Scheme would hinder Change of location Betwixt the city and the mainland, where Regime require Cardinal weeks of quarantine or More. Beijing will Non reopen Hong Kong's border with the mainland until the city reaches and maintains zero COVID-19 cases.
Chinese Loss leader Xi Jinping Aforesaid this week that Hong Kong's "overriding Chore" is to get control of the Position. Some Wellness experts from the mainland arrived Thursday to help with Examination. Beijing also sent antibodies and Another resources.
Customers at the Fung Shing Restaurant Aforesaid they feel powerless.
"I feel so helpless for this Eating place under the pandemic," Aforesaid Client Mo Wan, a 78-year-old who has been a regular for the past decade. "I have established a deep Friendly relationship with the Faculty members."
Up to 3,000 of Hong Kong's 17,000 Eating places could end up closing if current restrictions continue Direct March, Aforesaid Michael Leung, chairman of the Association for Hong Kong Catering Services Management, which represents 800 Eating place owners.
Leung has temporarily Closed his own Eating place, the Lucky Dragon Palace.
It's a Untidy establishment that would Ordinarily seat 1,000 before the pandemic. Leung hopes to hold on, paying the rent and Redemptive on labor and utilities until he can reopen.
"The pandemic is very Critical, In that location's barely anyone on the street," he Aforesaid. "With Few people Active out, Information technology means no business for Eating places. This 5th wave really impacts us Rottenly. It's really an ice age for the catering business."
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Rising Rumored from Bangkok. Associated Press Diary keeper Janice Lo in Hong Kong contributed to this report.