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Economy

Taiwan's economy bounces back as Hong Kong stays in recession

Q3 growth of 3.3% in Taiwan compares with 3.4% contraction for Hong Kong

Taiwan, left, and Hong Kong are having contrasting economic fortunes. (Source photos by Reuters and Ken Kobayashi)

TAIPEI/HONG KONG -- Data released Friday highlighted the contrasting economic fortunes of Taiwan and Hong Kong.

Taiwan, which has mostly tamed the coronavirus on its shores, bounced back from a contraction in the second quarter. But Hong Kong, reeling from the COVID-19 pandemic and the repercussions of the national security law, notched its fifth straight year-on-year decline in gross domestic product.

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