Protests in Hong Kong

[quannum]

https://time.com/3444164/hong-kongs-...onomic-future/

But the real reason why Hong Kong has been so successful is that it is not China. When Hong Kong was handed back to Beijing by Great Britain in 1997, the terms of the deal ensured that the former colony, now called a “special administrative region,” or SAR, of China ­would maintain the civil liberties it had under British rule. That separated Hong Kong from the Chinese mainland in key ways. In China, people cannot speak or assemble freely, and the press and courts are under the thumb of the state. But Hong Kongers continued to enjoy a free press and freedom of speech and well-defined rule of law. The formula is called “one country, two systems.”

That held true in the world of economics and finance as well. On the Chinese side of the border, capital flows are restricted, the banking sector is controlled by the state and regulatory systems are weak and arbitrary. Meanwhile, in Hong Kong, financial regulation is top-notch, capital flows are among the freest in the world, and rule of law is enshrined in a stubbornly independent judicial system. Those attributes have given Hong Kong an insurmountable advantage as an international business hub. Banks from all over the world flocked to Hong Kong, while its nimble sourcing firms orchestrated a global network of supply and production that became known as “borderless manufacturing.” While there has been much talk of Shanghai overtaking Hong Kong as Asia’s premier financial center, the Chinese metropolis simply cannot compete with Hong Kong’s stellar institutions, regulatory regime and laissez-faire economic outlook.

That’s why the Occupy Central movement is so critical for Hong Kong’s future. So far, Beijing has generally abided by its agreement with London and left Hong Kong’s economic system more or less unchanged. But when China’s leaders made clear last month that Hong Kongers would be able to choose their top official, known as the Chief Executive, from 2017 onward only from candidates who have the approval of Beijing, it became obvious that Hong Kong was going to face tighter control by China’s communists over time. That raises the specter that Beijing will at some point dismantle “one country, two systems” and along with it the foundation of the Hong Kong economy.

By fighting for their democratic rights, the activists in Hong Kong are fighting for an independence of administration and governance that will perpetuate their city’s economic advantages. Beijing should realize that ultimately a vibrant Hong Kong is in its own interests. China has benefited tremendously from Hong Kong over the past 30 years. It was Hong Kong manufacturers that were among the first to bravely open factories in a newly opened China, thus sparking the mainland’s amazing economic miracle. Chinese firms have been able to capitalize on Hong Kong’s stellar international reputation to raise funds and list shares on the city’s well-respected stock exchange. Even now, China continues to upgrade its economy by seeking Hong Kong’s expertise. The stock markets in Hong Kong and Shanghai are in the process of being linked to allow easier cross-border investment.

http://www.cnn.com/2014/09/29/world/...kong-protests/

CNN's Ivan Watson -- who himself was enveloped in a cloud of stinging tear gas Sunday -- said protesters and police appeared unused to the method of crowd control.
"Both sides were appealing for calm, and then the tear gas just exploded in the midst of everybody," he said. "People here have never been hit by tear gas before, and it comes as quite a shock to them -- even the use of pepper spray. ... This is a big shock for a city that is famed for its law and order."
The strong police response appeared to stir thousands more people into joining the demonstrations, swelling the ranks of protesters around the government headquarters and starting new rallies in other key areas of the city, including the densely populated district of Kowloon, which sits on the opposite side of Victoria Harbor from Hong Kong Island.

Top story on reddit:

[Waraji]

For anyone jumping in now to what is going on, wondering wtf China? wtf Hong Kong? Isn't it the same? Here's a great synopsis of their relationships.

[Stromgarde]

Does this round of protests actually have some legs behind it? I know there has been opposition to China saying 'ok, here are your new leaders guys have fun' before but nothing to this scale before to my knowledge.

[vagus]

Waiting on USA to invade HK and start WW3.

[Salodin]

Does this round of protests actually have some legs behind it? I know there has been opposition to China saying 'ok, here are your new leaders guys have fun' before but nothing to this scale before to my knowledge.

Apparently theres this 17 year old leader whos the face of the future of HK. Idk, good luck to them though.