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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
I think one really unmentioned outcome of these protests in HK is that the disagreements are tearing some families apart.
My cousin who lives in HK, she's in the pro-democracy camp. Her dad is pro-democracy. Her mom is pro-government. Her dad and her went to some of the marches. Her mom was not cool with it and they've had huge fights. Between her and her mom, and between her mom and dad.
This all came out because I messaged her last night checking in on the family(She's one of my closer relatives that I can talk to). She says some family gatherings are unbearable because the family is mostly pro-government.
An aside to all that's happening, according to her, some people are saying that the extradition bill wasn't to arrest "naysayers" of the government, though it would be a bonus. It was a method to stem and possibly claw back all the dirty money that's been flowing out of China. It seems reasonable that a lot of the illegal capital outflow from China would get parked in HK as it would be the easiest outlet.
The following would be my own opinion. What if China is secretly running out of money? They've dumped billions into empty cities with nothing to show for it. They've dumped billions into the belt and road initiatives, and they've recently put a stop to all that. This extradition bill was just a part of it to claw some of the money that was bled out to corruption.
Though it doesn't explain why Carrie Lam is so stubborn and steadfast about the whole thing. Maybe it's just her personality. She was known to be stubborn before she became CE.
Sorry for all the rambling... back to your regular programming of Skinny posting pics and news.
The following would be my own opinion. What if China is secretly running out of money? They've dumped billions into empty cities with nothing to show for it. They've dumped billions into the belt and road initiatives, and they've recently put a stop to all that. This extradition bill was just a part of it to claw some of the money that was bled out to corruption.
Though it doesn't explain why Carrie Lam is so stubborn and steadfast about the whole thing. Maybe it's just her personality. She was known to be stubborn before she became CE.
I wouldn't say your suggestion is a secret. I think a general consensus among many China experts is that China is fast running out of money. Where they often differ is how much and how soon that will happen, and whether China can salvage itself from imploding. One analyst that based his observations on (Chinese) state-released numbers is suggesting that all of China's net reserves is only roughly the same as the total reserves that Hong Kong has. It is also no secret that China originally wanted to use the extradition bill to help arrest people that have channeled funds out of China and into Hong Kong.
Since we are talking about the financial aspect of things, a critical point that I have always known, but didn't know the stakes were this high, is that Hong Kong is far more important to China financially than China is to Hong Kong. According to this recent article in Financial Times:
[The] headline figures suggest that Hong Kong has become less important. When the UK handed back control$in 1997, the$Hong Kong$economy was equivalent to 18 per cent of the mainland’s gross domestic product.$Now it accounts for$less than 3 per cent$of China’s economy.$
But those numbers disguise the role that the city still plays. In order to raise funding in US dollars, Chinese companies lean heavily on Hong Kong’s financial markets — markets which are rooted in the city’s independent legal system based on English Common Law.$
Without the legal framework, China’s legion of state and privately owned companies could struggle to continue to raise war chests of US dollars in the city, while Hong Kong’s status as a safe base for those companies to invest overseas could also be threatened.
“I do not see an entirely open capital account, as we know it, being adopted any time soon on the mainland of China,” says Joseph Yam, former chief executive of the Hong Kong Monetary Authority, the city’s de facto central bank.$
Hong Kong’s capital markets are now dominated by Chinese corporations, which accounted for 91 per cent of the $9.4bn raised in initial public offerings this year in the city. In debt capital markets, Chinese companies have borrowed $647bn in US dollar fundraising, or 75 per cent of all US dollars raised in Asia this year. Most of those debt deals are launched in Hong Kong.
if it's no secret why isn't this posted until page 26
If you ask me, I'd say that it's because the thread is about the Hong Kong protests, not China's financial state. Had EvoFire not brought the topic up, I wouldn't even mentioned it here.
I wonder how things will escalate once the September tariffs take effect.
Interesting times we live in.
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I think one really unmentioned outcome of these protests in HK is that the disagreements are tearing some families apart.
In one of SkinnyPupp's more candid, personal, helpful, (and self-aware) moments, it's been mentioned. Frankly speaking, people were aware of this, found themselves embroiled in it probably after week 1-2 of the protest, it is now in week 9.
Quote:
Originally Posted by SkinnyPupp
It legitimately saddens me. I was so disappointed in my wife's dad when we talked to him shortly after the protests started. I guess that feeling kind of affects me when I see it here (and I know he's not trolling, so I am happy to accept people here are, it kind of makes it easier)
If you ask me, I'd say that it's because the thread is about the Hong Kong protests, not China's financial state. Had EvoFire not brought the topic up, I wouldn't even mentioned it here.
Wouldn't China's financial state be kind of relevant though? At this point, I think it's pretty clear China doesn't believe in any of the things Hong Kong is fighting for right now.
But if Hong Kong proves to be financially more important to China than the other way around (or China needs Hong Kong more than Hong Kong needs China, financially), couldn't this then become a bargaining chip of some sort for Hong Kong to get what they want?
I was always under the impression that China can afford to have this drag on and Hong Kong can't. But maybe, just maybe, China is close to the point that they realize this protest is costing them too much financially, and could potentially give in to the protest. As much as the China government care about face, I certainly can't see them as going against money.
china's financial health esp if it's supposedly the basis of the extradition bill then couldn't possibly be more relevant to the discussion
things seem to be really detoriating now: partial airport shutdown, cars ramming through barriers, more thugs with batons....PLA deployment/marital law seems more and more a possibility, wonder what Beijing is announcing soon
There's been speculation that some of the police are PLA soldiers in disguise. Or at least security officers sent down from China... No hard evidence that I've seen though, until now
There's been speculation that some of the police are PLA soldiers in disguise. Or at least security officers sent down from China... No hard evidence that I've seen though, until now
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Shirts been hitting the fan on Monday, they're going to force China to come in and institute martial law at this rate
Unfortunately, at the rate that things are developing, I can't see it turning out any other way. Please believe me when I say that it is not the outcome that I want to see or hoping for. I'm really hoping the Protesters will stand down.
But there will be another 8.X day (like June 4th) in the annals of HK history to mark the PLA coming into HK. I think it will probably happen within the next 7-10 days unless some miraculous intervention.
Lol this commie thug got his ass beat. You can tell he is mainland, and shortly after the video starts he asks whether the reporter is from apple daily. Mainland being mainland. Fuck with the mob and the mob fucks you.
Unfortunately, at the rate that things are developing, I can't see it turning out any other way. Please believe me when I say that it is not the outcome that I want to see or hoping for. I'm really hoping the Protesters will stand down.
But there will be another 8.X day (like June 4th) in the annals of HK history to mark the PLA coming into HK. I think it will probably happen within the next 7-10 days unless some miraculous intervention.
Lol this commie thug got his ass beat. You can tell he is mainland, and shortly after the video starts he asks whether the reporter is from apple daily. Mainland being mainland. Fuck with the mob and the mob fucks you.
Running joke right is this dude; 又係暴徒 又係記者 又係街坊.
white shirt, black shirt + Reporter. Man, these guys must be making money from all sides.
I can see why people are trying to not go to work to make a point, but you can't force to not go to work. In Canada, you have the right to cross picket lines (if you're management etc), you won't see someone blocking you from entering.
Gangs of people going to MTR and blocking the trains from moving, running out to the road to try to setup illegal blockade is just uncalled for.
Looks like China is threatening to use force if this civil unrest continues. If they do move the PLA in, it'll most likely be the end of Hong Kong's special system and China will clamp down even harder. So these riots might have backfired and actually end up screwing everything up even more. GG, no re.
Ready to get flamed.. but at this rate the PLA probably have public support to move in. This is fucking nuts. 25+ people using weapons on someone who has no weapons.
Who the fuck are these protestors? Looks more like hooligans to me. Looks like they're just out and about so that they can fuck shit up.
From the outside world, I don't give a shit what cause you're fighting, it looks no different than the police acting as a gang or the traids who are the gang, fucking people up.
Where's that kid that took punches and didn't fight back? That's honorable. What the fuck is this shit. Cool, punch him a couple of times to make a point, I get it. But that was fucking excessive.
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