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China, U.S. Standoff Deepens Over Hong Kong Protests

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Hong Kong as Special Administrative Region in China- the effort to preserve the "high degree of autonomy" guarantee in the 1997 transfer agreement 20 years later

09/29/2014

Democracy protests in 2014 are intended to preserve Hong Kong's special status under the "one country, two systems" transfer agreement with Britain of 1997. Remarkably China permitted Hong Kong to function as a separate region of 7 million Chinese people enjoying a vibrant media, independent governance, and separate financial system. This helped the mainland develop its own economic system gaining fom the experience of Hong Kong as a financial capital in Asia. Fears that the independent system is being eroded have led to the protests in 2014. As Beijing and Shanghai have evolved in the last decade with Western experience and knowhow in many fields, China may see less need to preserve the status quo. How China responds also gives some indication in which direction it is moving- towards a more open, transparent economic and political system, or pulling back to strengthen the control of the Communist Party. The U.S., Britain, and China itself have a lot at stake in how China's Jinping-Li Keqiang government tackles Hong Kong's autonomy and expectations.

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Protests in Hong Kong Have Roots in China’s ‘Two Systems’

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Hong Kong protest draws biggest crowds yet on holiday celebrating Communist Party - The Washington Post

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China, U.S. Standoff Deepens Over Hong Kong Protests

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China Targeting Rights Lawyers in a Crackdown

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Hong Kong Officials and Protesters Agree to Talk

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China, U.S. Standoff Deepens Over Hong Kong Protests

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Hong Kong’s Top Government Officials Leaving Town

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Hong Kong as financial hub in Asia based on a perception of autonomy and the effects of the 2014 student protests for universal suffrage

10/01/2014

A crackdown would affect Hong Kong and China adversely, as international financial institutions would be uncertain about Hong Kong's independent status within China. The Hong Kong police, judiciary, rule of law, its Britain based legal system, would now be seen as beholden to Beijing and not independent. Singapore would gain in that situation. China would lose a laboratory for financial innovation, and lose Hong Kong's vibrant financial markets, as banks move elsewhere.

Grouped Articles

Hong Kong's Status as Financial Hub Likely a Factor for Beijing

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Hong Kong Wealth Gap on Display in Protests

New York Times 10/05/2014

China, U.S. Standoff Deepens Over Hong Kong Protests

Wall Street Journal 10/11/2014


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