When China regained sovereignty over Hong Kong from the British in 1997, it was under an agreement to allow the city a “high degree of autonomy” for 50 years. That arrangement, known as “one country, two systems,” is almost halfway to its expiration date. Months of turmoil on Hong Kong’s streets, with hundreds of thousands demonstrating against the perceived erosion of the city’s freedoms, have sharpened the focus on one question: What will happen in 2047?
— Read on www.bloomberg.com/news/articles/2019-08-27/countdown-to-2047-what-will-happen-to-hong-kong-quicktake
Tag: Hong Kong
Harvard’s Reinhart Warns Hong Kong Could Trigger World Recession – Bloomberg
Hong Kong’s rolling political turmoil could prove a tipping point for the world economy, Harvard University economist Carmen Reinhart said.
— Read on www.bloomberg.com/news/articles/2019-08-23/harvard-s-reinhart-warns-hong-kong-could-trigger-world-recession
Hong Kong Faces Worst Earnings Recession Since 2008 Crisis
(Bloomberg) — Hong Kong stocks are poised for their worst quarter since 2015 and corporate earnings are unlikely to save them.After a sell-off erased more than $600 billion from the city’s equities, attractive valuations stood as a potential bright spot. But those multiples don’t look so good when analysts
— Read on ca.finance.yahoo.com/news/hong-kong-faces-worst-earnings-200000471.html
Tens of thousands of protesters force delay in Hong Kong extradition bill debate – Reuters
Tens of thousands of Hong Kong demonstrators surrounded the Chinese-ruled city’s legislature on Wednesday, forcing it to postpone a second round of debate on an extradition bill that would allow people to be sent to mainland China for trial.
— Read on www.reuters.com/article/us-hongkong-extradition/tens-of-thousands-of-protesters-force-delay-in-hong-kong-extradition-bill-debate-idUSKCN1TC1WR
BREAKINGVIEWS – Hong Kong risks its future as global business hub – Reuters
(Reuters Breakingviews) – Carrie Lam’s government could squander Hong Kong’s privileged position in the eyes of foreign governments. A bill that would allow extradition to the mainland prompted hundreds of thousands to protest on Sunday. If the chief executive ignores the message, Washington, Brussels and others may reconsider their relationship with the territory. That would hurt both Hong Kong and China.
— Read on www.reuters.com/article/us-hongkong-extradition-march-breakingvi/breakingviews-hong-kong-risks-its-future-as-global-business-hub-idUSKCN1TB0D4