Under Secretary for International Affairs David H. McCormick Remarks to the Better Hong Kong Foundation
Financial Turmoil and the Global Economy
Hong Kong – These are unprecedented and difficult times for the global economy. The world's financial market conditions are severely strained, and risks to the global growth are significant. The largest advanced economies are feeling this most acutely. In the United States, our financial markets are experiencing unprecedented challenges, and this is adding even greater pressure to our already slowing economy.