I've a friend managing one of the big luxury retail brands. Sales are down 70% on last year. This is just the start of it. Small retailers will start walking away from commercial leases in the months ahead and Hong Kong is facing a depression like retail slowdown. Job losses to follow.
For young Hong Kong people, the stark reality is their grandparents worked in sweatshops for a hope of a better life for their children, yet their grandchildren may face dreary economic prospects. This may cause further significant social upheaval and hardline intervention.