The Intelligence from The Economist Break a LegCo: Hong Kong’s protests boil over
Jul 2, 2019
Greg Karlstrom, a Middle East correspondent for The Economist, dives into the boiling tensions in Hong Kong as protesters clash with authorities, ultimately storming the Legislative Council. He discusses how the demonstrations reflect deep-rooted frustrations against governmental control while questioning the effectiveness of these protests in achieving freedom. The conversation also shifts to the surprising evolution of Gulf sovereign wealth funds, moving from cautious to disruptive investments, and examines their implications on both local economies and global politics.
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Hong Kong Protests Escalate
- Hong Kong protesters stormed the Legislative Council building, spray-painting anti-government graffiti and demanding universal suffrage.
- This followed mass demonstrations against a planned extradition bill, highlighting the ongoing tension between Hong Kong and mainland China.
China's Tactical Retreats
- The Chinese Communist Party's response to protests in Hong Kong follows a pattern of tactical retreats.
- They postpone the contentious law, wait for the situation to calm down, and then tighten their grip in subtle ways.
Hong Kong's Future
- Hong Kong protests are unlikely to increase freedom or democracy, but rather serve as a defensive measure to preserve existing freedoms.
- The likely outcome is a gradual erosion of freedoms through media control, funding of pro-Beijing politicians, and other subtle tactics.