——Wouldn’t you think she got permission to do withdraw the bill?-—
My first thought was that she was told to withdraw the bill
Just immediately north of Hong Kong are the recent heavily populated areas of the Pearl River Delta. The cities there are where the “If you build it they will come” construction took place and people did in fact come. This area of 68 million people (per Forbes) is the 13th richest economy in the world.
The CCP cannot tolerate the Hong Kong disease breaking out in the adjacent Pearl River Delta territory with so many new and relatively well off young people. It is these same people, I believe, that will likely be affected by the American Tariffs.
Agree - on stuff like that, China calls all the shots. She’s powerless, as would be anyone in that position.
Thanks for the mention.
Appreciate your insight!
“The CCP cannot tolerate the Hong Kong disease breaking out in the adjacent Pearl River Delta territory”
That area will be/is taking the brunt of the the new tariffs (electronics). A generation there has know nothing but boom times, and have no experience with recessions.
They are leveraged with debt to a extraordinarily dangerous level - historic bubble.
The Hong Kong dollar is freely convertible - unlike the Yuan/Renminbi currency of the mainland. Hong Kong has burnt through their foreign reserves to maintain their peg with the US dollar over. If that breaks, Katie Bar the Door!
Regardless of how this ends, China is going to continue to strip Hong Kong of its financial clout and ship it to Shanghai.