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ADB slashes Hong Kong growth forecast to 0.3% amid political turmoil

Lender cuts region's growth outlook for this year to 5.4% from 5.7%

A man closes gates to the shop as riot police walking past after a march at Mongkok, Hong Kong, China August 17, 2019.   © Reuters

MANILA/TOKYO -- Hong Kong's economic growth this year is set to drastically slow as the U.S.-China trade war and unrest in the city hits business activity, the Asian Development Bank said on Wednesday.

The ADB said the territory would grow 0.3%, down from its April forecast of 2.5%. The lender also revised down the expansion rate in 2020 to 1.5%.

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