Hong Kong Claims for FreedomEdward 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