In a radio program today (Dec. 24), Dr. Francis T. Lui, a member of the Expert Group of the Chief Executive's Policy Unit and Professor Emeritus of the Department of Economics of the Hong Kong University of Science and Technology, said that Hong Kong's economy is expected to maintain slow growth in the next 8 to 10 years.
"It is believed that there will not be a significant upturn in the overall economy, coupled with Hong Kong's serious problem of an aging population, and the elderly healthcare measures and other measures, which will pose heavy financial pressure," he said.
Dr. Lui further pointed out that the international geopolitical problems have yet to be resolved.
"It is expected that in 14 to 15 years, the GDP of the Mainland will be equal to the combined total of the United States and Europe in terms of purchasing power parity, and it is believed that the U.S. will turn to China to improve relations with China by then, especially as the development of the Belt and Road Initiative (BRI) and the Regional Comprehensive Economic Partnership (RCEP) is maturing.
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