Posted on 08/01/2019 7:48:17 AM PDT by SeekAndFind
The year 2019 has put Hong Kong into unknown territory, with a collapse of government decision-making, extrajudicial terror attacks on civilians, and radical police-baiters negatively impacting the economy.
No less a figure than Paul Chan Mo-po, the financial secretary, has admitted that it is difficult to be optimistic in the city’s short-term economic growth because of the impact of the protests. Bravo to him for being one of the few top government figures to come out of the bunker in recent weeks.
Economic growth has slid from 4.6 per cent in the first quarter of 2018 to 0.6 per cent this quarter, the worst performance in a decade. Visitor numbers are slowing, property sales volumes are down by half and the retail sector is weak.
It was always wishful thinking for the Basic Law to survive 50 years under a totalitarian sovereign – indeed we should be thankful that we had a good 15 years. A difficult transition period was always likely, as the autocratic People’s Republic found it increasingly unable to keep its hands off the freewheeling Hong Kong lifestyle. The only real surprise is that the first intense moves towards transition have come earlier and more quickly than expected.
Investors should look for a long-term model for the Hong Kong transition to the mainland.
One particular model is the five stages of grief, as defined by Elizabeth Kubler Ross. In a sense, losing one’s lifestyle is a form of grief where the path of emotions traverse denial, anger, bargaining, depression, and acceptance.
The relationship with China before the hardline policies of President Xi Jinping was very good, as the self-satisfied chief executive Donald Tsang Yam-kuen was ineffectual but unthreatening.
(Excerpt) Read more at scmp.com ...
The Chinese Communist Party will destroy Hong Kong before it will let it leave
What a bunch of Hong Kong Phooey!
From the article:
That is a picture of Mao Tse Tung’s LONG MARCH. Definitely NOT Hongkong.
Hong Kong needs to follow the lead of Brexit.
Then there’s the South Africans setting up shop in Russia.
“The smart money in Hong Kong has already set up shop in Vancouver,San Francisco,Sydney or London.”
I was last there in 1991. The smart money was already in the process of leaving before the 1997 turnover. Even as a tourist the evidence was everywhere. Billboards, in the newspapers, rents were dropping because housing was opening up. I felt like I was watching history, and I was.
The rents went back up quickly. Housing cost in HK are astronomical right now. $1,000,000 USD for 350 square feet in Shatin or MaOn Shan.
Lots of people left and then came back. Now they are leaving again
I’m sure they did. I wonder how many mainland Chinese moved to Hong Kong in the past couple decades for the little bit of extra freedom?
I would love to go back to Hong Kong again. An amazing city.
I think it’s actually very difficult for somebody from Mainland China to move to Hong Kong.
In the 10 weeks between Obama’s election and taking office America lost 2 million jobs. Small business knew what was in store for them even though the NY-D.C. axis didn’t have a clue as to why. Hong Kong residents can only hope the protests spread to the mainland. No turning back because there’s nowhere to go.
Millions will lose their freedom to leftist thugs.
Democrats will rejoice.
[The rents went back up quickly. Housing cost in HK are astronomical right now. $1,000,000 USD for 350 square feet in Shatin or MaOn Shan.]
Sadly the Chi-coms will have no problem sending in tanks like they did in Tiananmen Square to crush any exit move by Hong Kong or calls for democracy. However, in these days of instant communication via the Internet, the brutalities of the Communist regime in China will not be so easily covered up. How the West will react is another question. Trump has had no problem with taking on China with trade sanctions and in reaction to a massacre of pro democracy protesters even Trump’s hardened critics would hard pressed to say anything negative.
The bottom line is that Hong Kong is part of the PRC. That is not going to change. The assimilation likely will occur thirty years earlier than planned. The US and world opinion be damned. Taiwan should take note.
Most recent party line propaganda.
United Front crap from Beijing.
“I’m sure they did. I wonder how many mainland Chinese moved to Hong Kong in the past couple decades for the little bit of extra freedom?”
That’s always been Hong Kong.
Except the last 20 the ChiComs have been moving pro-ChiCom Chinese in to Hong Kong.
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