Amid escalating violent clashes between the police and demonstrators, businesses have been hit and social order has been disrupted.
"There is no return to what Hong Kong was. I don't see the social situation being easily resolved, and I don't see it as getting better. So my forecast is pretty gloomy," said David Roche, founder and strategist at research firm Independent Strategy.
The Lan Kwai Fong Group chairman said the protests have hurt the retail and hospitality sectors the most because the clashes primarily happen on the weekend. Zeman pushed for the development of his group's eponymous nightlife and entertainment district.preliminary August retail sales plummeted 23% year over year
On Tuesday, local police fired water cannons to break up the increasingly chaotic crowds outside government buildings and across the city. The city's underground rail system, MTR has been disrupted on multiple occasions by demonstrators in the last four months as violence escalates. Multiple Bank of China and China Telecom locations have been vandalized.
"This is not going to stop the fact that things on the streets are getting worse, not better. And using bullets is certainly not going to send people home. And it'll bring more people out," said Roche.
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