What We’ve Always Known About China

The editors of the Washington Post say that the Chinese authorities’ response to the demonstrations in Hong Kong is “wrecking Hong Kong’s ideals”:

Under pressure from the streets, Ms. Lam eventually withdrew the objectionable extradition law, and, at almost any point, the demonstrators would probably have been satisfied if she had met relatively modest demands for an investigation into police brutality and an adherence to democratic norms. But neither Ms. Lam nor the overlords in Beijing understood this, and the latest crackdown is the most stark evidence yet of their self-defeating miscalculation. They have entirely destroyed the “one country, two systems” pledge under which the handover was made. For years, Taiwan, a thriving democracy, has watched — warily — how that pledge would unfold. Now the answer is clear: China will stop at nothing to achieve absolute control.

For those whose vision has not been obscured by dollar bill-colored blinders it has merely confirmed what we’ve known all along. Economic liberalization will not bring political liberalization in China. Economic liberalization may well be evanescent. The authorities’ main priority is retaining their own grip on power.

I don’t know what practical effect the editors’ preferred course of action:

Congress ought to send a stronger message by approving legislation requiring a review of whether Hong Kong is sufficiently autonomous from China to deserve its current special economic and legal treatment from the United States.

other than to hurt the people of Hong Kong. Hong Kong is just not that essential to China any more. Unlike 20 years ago China has other financial hubs.

3 comments… add one
  • CuriousOnlooker Link

    At the rate things are going; events will soon overtake the question “whether Hong Kong is sufficiently autonomous”.

    Given the treatment of the NBA Rockets GM for a tweet on Hong Kong; the question may soon be, “whether Americans have sufficient freedom to express their opinions on China”.

    FYI; I don’t know if Hong Kong can be easily replaced by a city inside China as a venue for international finance. That requires a strong system of commercial law which is the antithesis of CCP rule.

  • I was referring to other Chinese cities that have become financial centers since 1999.

  • CuriousOnlooker Link

    Shanghai has become a financial center within China – for domestic finance.

    I forget the other issue, the RMB is not freely convertible currency.

Leave a Comment