Hong Kong Claims for Freedom
Edward Chin, former hedge fund manager, and 70 other signatories called for “genuine” universal suffrage for the former British colony, according to what China promised to deliver within 20 years.
In
a decidedly odd twist of fate, Hong Kong's version of the "Occupy Wall
Street" movement has just been thrown a lifeline by a bunch of bankers,
whose wealth the movement is meant to abhor. That strange fact alone
should give leaders in Beijing pause.
Of
course, it was also hoped that by 2014, China would be looking more
like Hong Kong with a freer media, transparent financial system and
basic human rights. Instead, the Communist Party in Beijing wants Hong
Kong to be more like China.
Chin
and the other signatories fear that Chinese pressure is dangerously
eroding Hong Kong's reputation for transparency and institutional
integrity. "The current political climate in Hong Kong is having a
negative impact to Hong Kong’s competitiveness as a major financial
center in Asia," they write, and it's a "stumbling block to the city’s
long-term social, political and economic growth." When I contacted Chin
by e-mail today, he added: "We don't want this city to die, so we have
to fight hard to defend the already fragile core values of this city."
Source: Bloomberg View
