Mr John Tsang Chun-wah ︰ if the United States from falling from a financial cliff "will be difficult to immune

Hong Kong Financial Secretary John Tsang said recently that if the United States is falling from fiscal cliff "recession in the U.S. economy, Hong Kong will not be an exception, the economy is also likely to be recession; but for the public to worry about the third round of U.S. quantitative easing measures to Order a lot of hot money inflows push up inflation and property prices in Hong Kong, he is cautiously optimistic.

John C Tsang, in his personal blog author said, if the United States is falling from fiscal cliff ", so that the recession in the U.S., which will bring the global economy a heavy blow, the European recovery will be more distant mainland economic risk of a hard landing will increase; Hong Kong as a small export-oriented economies will face major trading partners lose growth momentum, even recession, Hong Kong also not been spared. Hong Kong's economy is likely to be a recession, asset prices may fluctuate, corporate bankruptcies and rising unemployment? Living of the people will be greatly affected. On the other hand, Mr Tsang said that many people worry about re-election of U.S. President Barack Obama, Federal Reserve Chairman Ben Bernanke planned to implement QE3, so that the devaluation of the Hong Kong dollar pegged to the dollar, a lot of hot money inflows, pushing up inflation and Floor price impact? livelihood.

Mr Tsang said that the property market this attitude more cautiously optimistic, because in the end of October, the Government introduced two measures to manage demand for residential buildings, including raising the special rate of stamp duty and extend the applicable period, as well as to non-permanent residents and corporate buyers open levy a 15% buyer stamp duty, the hot money inflow significant increase in the costs and risks of the residential property market.