Hong-Kong Protests


supercat

Junior Member
...

Also here’s an SCMP Op Ed by BoJo

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Best wishes for the "3 millions" who are going to UK:


In other Hong Kong related news:
Hong Kong stocks recover to pre-national security law sell-off levels, market rises for third day in a row -
Hong Kong, mainland markets on three-day and five-day rising streak, respectively
- The market is filled with capital, and investors are looking for opportunities to invest amid a global economic recovery, analyst says
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For those who think that a bank-run will destroy Hong Kong's financial system and the Hong Kong dollar, such as the notorious Hong Kong dollar short-seller Kyle Bass, they will lose their pants.
Hong Kong Can Get U.S. Dollars From China If Needed, Chan Says
  • City’s financial chief joins officials in reassuring investors
  • Risk U.S. will revoke privileges has boosted concern over peg
China’s central bank can provide U.S. dollars to back Hong Kong’s currency peg should the Trump administration impose sanctions on the territory, according to the city’s financial chief.

The dollar peg is underpinned by about $440 billion of foreign-exchange reserves, which is more than two times the city’s money in circulation, Financial Secretary Paul Chan said in an interview with China Central Television on Wednesday. If needed, Hong Kong can tap a currency swap line with the People’s Bank of China, which will cover Hong Kong dollars and the greenback, he said.

Top officials have been keen to reassure investors that the 36-year-old dollar peg remains secure regardless of how the U.S. responds to Beijing’s controversial plan to impose national security legislation on Hong Kong. Banks and money exchange shops
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in recent days as residents are looking to open offshore accounts or get hold of foreign currencies, according to local media reports.
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Dolcevita

Senior Member
Enough talk from the Brits. The Brits just needs to put its money where its mouth is. Grant all HK resident wishing to do so British citizenship in 2020.

Any HK person without a foreign passport in 2021 will be treated as Chinese citizen or illegal resident from 2021 onward. One country 2 system means the subject are under the country's sovereignty. This will help clarify the status of the resident in HK. BNO, whatever it is, is just a bastard status from British colonial past, it does not represent a subject of any sovereignty and lacks legal standing under international law.

Sadly, the Brits are all talk and bluff and incapable of real action.
 

Dolcevita

Senior Member
Unsurprisingly, business exodus out of Hong Kong in-progress.

Nomura reviews scale of operations in Hong Kong

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Nomura is “seriously” examining its Greater China strategy and the scale of its operations in Hong Kong as relations between Beijing and the former British colony deteriorate, according to the chief executive of Japan’s largest investment bank.

Options under discussion, said Kentaro Okuda, include bolstering the size of Nomura’s majority-owned joint venture in mainland China — a Shanghai-based brokerage and asset management business that secured the necessary licences in 2019 and began operations in December.

In an interview with the Financial Times, Mr Okuda, the former head of investment banking who became chief executive of Nomura in April, said Nomura’s roughly 1,000-person Hong Kong operations remained its most critical Asian hub outside Japan, but the situation now was “not the same as it used to be”.

His comments followed China’s approval last week of a plan to impose a national security law on Hong Kong and a retaliatory threat by the US to revoke the Asia financial hub’s special trade privileges, as Washington no longer deems the special administrative region to have the requisite autonomy from Beijing.

Although Mr Okuda said there were no plans to relocate staff from Hong Kong to elsewhere in the region, he noted that Nomura was actively expanding its operations in Singapore. “Because of the political situation, we are seriously looking at the size of the Hong Kong [operations] and others,” he said.

In common with industry peers, Nomura has made no decisions yet. Other large banks, asset managers and companies outside the financial sector have said that for now it makes sense to remain in Hong Kong, given the absence of demonstrably better alternatives.

Many senior executives have described their intention to “stomach” Beijing’s new security law. A survey on Wednesday by the American Chamber of Commerce showed that 60 per cent of the US companies that responded think the national security law will hurt their business operations in Hong Kong, but 70 per cent said they had no plans to relocate. Swire and Jardine Matheson, two of the former British colony’s oldest trading houses, have publicly supported the law, with Jardine advertising its position in a Hong Kong newspaper seen as favourable to Beijing on Wednesday.

In a statement last week, a Swire spokesman said the enactment of national security legislation “will be beneficial for the long-term future of Hong Kong as a world-leading business and financial centre”. Last year, Swire’s airline Cathay Pacific was caught between China and Hong Kong after some of its staff in the territory were involved in pro-democracy protests.

Mr Okuda stressed that while the Greater China business remained critically important to Nomura, the political situation had to be factored in. As the bank reviewed its strategy for the region, he said, one option could involve expansion of Nomura Orient, the mainland joint venture it set up last year with Orient International and Shanghai Huangpu Investment.

That business was established in response to efforts by Beijing over recent years to convince the global financial industry that its domestic markets were continuing to open up to foreign participation. Nomura’s existing expansion plan for the China joint venture is to increase staff to about 500 people by 2023.

Some political analysts have deemed that campaign part of a grander scheme by the Chinese government to chip away at the relevance of Hong Kong. Nomura’s swift application to form a majority owned joint venture in mainland China last year ran in parallel with similar moves by JPMorgan, UBS and Goldman Sachs.

Mr Okuda has used his first two months as head of Nomura to set out a number of strategic shifts he believes necessary to make the bank more competitive. At an investor event last month, he unveiled plans to broaden Nomura’s product portfolio with a new focus on private equity and private debt financing.

Nomura’s deliberations over its China strategy come as the financial industry wrestles with the impact of coronavirus and the longer-term fallout for investment flows. The bank’s performance in the first three months of 2020 illustrated the effect of the pandemic, with higher trading revenues offset by mark-to-market losses on credit derivatives.
 

Gatekeeper

Major
Registered Member
More iconic images you don't see from the MSM.

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This didn't age well. Spot the difference!

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Like so many past American foreign misadventures, it’s state-sponsoring of violent unrest in HK is now coming home to roost as US protestors adopt CIA/NED developed counter policing tactics on US soil.

Long live the new umbrella movement, lol.

Dxxn! How did I missed the umbrella tactic from my post over at world news. It was starring and screaming at you! Lol.

It's great. The chickens have finally come home to roost!
 

Mr T

Senior Member
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Hong Kong's sole member on the National People's Congress Standing Committee, Tam Yiu-chung, reiterated today that he believes opponents of the city's future national security legislation must be banned from running in September's Legco elections.
This is the "high degree of autonomy" Hong Kong can probably expect in the future. People will have the right to agree with the government as well as the right to be automatically be banned from public office. :D

Best wishes for the "3 millions" who are going to UK
3 million people are unlikely to travel to the UK. First, many love their city even if they hate the political system. Second, Taiwan is closer and probably easier to integrate into - I expect the Taiwanese government would be fairly friendly towards them. Third, assuming Trump loses the general election, the US would also probably be a potential destination for refugees. Fourth, for millions, or even hundreds of thousands, to move at the same time we'd need to see a 1989-Beijing style massacre in Hong Kong.

That said, the UK has discussed with other members of the Commonwealth about the possibility of a joint plan to spread refugees around if the numbers were truly exceptional.
 
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This is the "high degree of autonomy" Hong Kong can probably expect in the future. People will have the right to agree with the government as well as the right to be automatically be banned from public office. :D
That's not a bad start. Sounds like they're beginning to mount the training wheels that an uncivilized confused society like Hong Kong needs in order to develop into an upstanding Chinese city. Freedoms come with maturity and a trust to properly exercise those freedoms in non-barbaric ways that serve the interests of the nation. That's why there are jail cells to suspend the freedoms of people who don't deserve them;) and that's why little kids are forced to obey their parents.:p
 

Bltizo

Lieutenant General
Staff member
Super Moderator
Registered Member
That's not a bad start. Sounds like they're beginning to mount the training wheels that an uncivilized confused society like Hong Kong needs in order to develop into an upstanding Chinese city. Freedoms come with maturity and a trust to properly exercise those freedoms in non-barbaric ways that serve the interests of the nation. That's why there are jail cells to suspend the freedoms of people who don't deserve them;) and that's why little kids are forced to obey their parents.:p
I mean, if Hong Kong doesn't have the capacity to act as an enclave of foreign funded activists and lacks the space and conditions to serve as the staging ground for groups whose explicit stated aspiration is to undermine and even overthrow the Chinese government, then for some people they unironically believe the absence of such conditions means the territory is not autonomous or free.

Of course I'm sure it's coincidence that people or governments who have these concerns also happen to oppose China geopolitically as well..
 

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