With slower growth in China’s economy, young professionals and middle-class people across the country are tightening their belts and cutting down on spending. But what can the rest of the world expect from diminished demand in the second-biggest economy?

Two years after taking office as Hong Kong's chief executive, John Lee has shifted his focus from enforcing national security to improving the lives of residents and rebuilding the city's economy. But he faces formidable challenges, stemming from geopolitical tensions between China and the West...