Hong Kong’s currency is facing its biggest test since the global financial crisis of 2008. The former British colony still pegs the value of its money to that of the US dollar.

Lee, Hong Kong’s new chief executive, has said one of his top priorities is to enact the Article 23 legislation that failed in 2003, raising fears that the city’s freedoms will be further eroded.

Hong Kong’s zero-tolerance approach to COVID-19 could keep the Asian financial hub cut off from most of the world until 2024, according to a draft report by the European Chamber of Commerce.