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Why does MACAU want to become the NASDAQ of CHINA? (with Xi Jinping’s support) - VisualPolitik EN
Posted
January 31, 2021
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Macau, a former Portuguese colony located at the mouth of the Pearl River on the southeast coast of China, just 60 km, less than 40 miles from Hong Kong, has become one of the richest and most prosperous places on earth over the last two decades.
With a per capita GDP of about $77,000 in 2019, Macau was the richest territory in the whole Asian continent and the fourth in the whole world, only behind Monaco, Liechtenstein and Luxembourg.
However, the fortunes - never better - of this small city changed completely in 2020. During that year, the COVID-19 pandemic caused Macau's economy to suffer what is perhaps the biggest recession in history. In a few months the GDP of this city shrank by more than 50%.
And that has made us at VisualPolitik ask ourselves a few questions: What is happening with Macau's economy? Why has the coronavirus had such a big impact here? What explains the wild decrease of more than 50% of the GDP? What plans does China have for this small territory? In this video we tell you all the details.
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