" "Beijing's approach to Hong Kong shows better than any other aspect of policy how the Chinese leadership has shifted away from economic pragmatism and toward political & ideological control." #QotD

 

"Beijing's approach to Hong Kong shows better than any other aspect of policy how the Chinese leadership has shifted away from economic pragmatism and toward political & ideological control.
    "The crisis in HK is entirely a creation of the Xi regime's obsession with control over every aspect of Chinese society. If HK had been left alone, it would be a quiet, prosperous city aiding Chinese development. But Xi couldn't tolerate a HK free of his surveillance state.
    "So Xi will sacrifice HK as a global financial center & risk international condemnation just to get his hands on the place. So instead of an ally in China's econ progress, Xi will create a HK stripped of talent & foreign finance. Very short-sighted.
    "You see this same insistence on control in other parts of Xi's econ policy: the preference of SOEs & state targeting, the dearth of market opening, etc. All will cost China growth. But the gutting of HK is easily the saddest consequence."
          ~ Michael Schuman on the national security draft bill Beijing is imposing on Hong Kong

 

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