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The positive steps seen in recent weeks offer hope, but the primary driver of the Hong Kong economy is the mainland, and anything less than free movement across it will leave an anaemic recovery. Why not ring-fence Hong Kong, Macau and the rest of the Greater Bay Area and make them a discrete area exempted from national quarantine and lockdown rules?
While Hong Kong keeps chasing the goal of “zero Covid”, its peers and competitors are moving on and normalising economic activity. Fully reopening is more urgent and more feasible than ever, and doing so will be to both Hong Kong and China’s great benefit.
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Provided by Dow Jones Jul 20, 2021 3:16 AM UTC Subscriber Notice: This newsletter will resume at 0300 GMT Thursday. India markets are closed on Wednesday, July 21, in observance of Bakri Id. GLOBAL MARKETS DJIA 33962.04 -725.81 -2.09% Nasdaq 14274.98 -152.25 -1.06% S&P 500 4258.49 -68.67 -1.59% FTSE 100 6844.39 -163.70 -2.34% Nikkei Stock 27482.97 -169.77 -0.61% Hang Seng 27421.41 -68.37 -0.25% Kospi 3229.88 -14.16 -0.44% SGX Nifty* 15724.00 -17.5 -0.11% *July contract USD/JPY 109.56-57 +0.10% Range ...