Guest post by Joe Hoft in Hong Kong
The Post-It protest wall in Hong Kong
An outside stairwell showing post-it notes from protestors at the Admiralty district in Hong Kong – JHoft
Hong Kong’s protests will come to a climax tonight. The democracy protesters were warned to leave the streets or face the consequences.
Per the Wall Street Journal –
As the rallies in Hong Kong enter their tenth day, the last before the work-week begins, there were growing calls from the government and some supporters of the pro-democracy crowds to end the protests. The city’s chief executive has given protesters an ultimatum demanding that they clear the roads in downtown Hong Kong as well as remove the blockades of government headquarters by Monday.
Some news outlets are quick to note the challenges that protests have had on the local Hong Kong economy. Hong Kong’s National Day visitor arrivals this past week fell 7.3% from a year earlier, according to data on the city Immigration Department’s website. The loss of mainlanders coming to Hong Kong impacts the entire area. Hong Kong’s Hang Seng Index was down as much as 2.6% in this past holiday-shortened week during the protests, but the Index rose 0.6% to 23,064.56 at the close of business on Friday.
Standard Chartered Plc (STAN) and HSBC Holdings Plc (HSBA) were among banks that shut the doors of some branches in Hong Kong as the pro-democracy protesters remained on the streets following last weekend’s clashes with police. About 44 branches, offices and automated teller machines were closed according to the Hong Kong Monetary Authority.
Mobs linked to the local mafia were involved in clashes with Hong Kong’s pro-democracy protesters in the Kowloon area of Hong Kong as demonstrations turned into running brawls late last week. The brawls led to the arrest of 19 people, some believed to be linked to triad gangs, as mobs tried to drive pro-democracy protesters from the streets. Of those arrested, eight men are believed to have backgrounds involving triads, or organized crime gangs, police said, and they face charges of unlawful assembly, fighting in public and assault. Senior Superintendent Patrick Kwok Pak-chung said at least 12 people and six officers were injured during the clashes.
Protestors are in near unison stating that the protests are for the long term of the country and economic freedom which trump the short term financial losses of local shops in Hong Kong. Many of the local shop owners even provided water to the protestors to support the movement. Tonight we see if any arrests or if the protests continue.
For information on solutions for the US from Hong Kong and other Asia Pacific countries and for information about how to order your own copy of Joe Hoft’s new book Falling Eagle – Rising Tigers, see www.joehoft.com.
