After bringing in the controversial bill by Lam, the pro-democratic activists have started demonstrations which have turned up violent. Taking advantage of this, China plans to intervene in Hong Kong affairs.
Hong Kong though under the sovereignty of China, it has its own identity and a separate financial and legal constitutions.
The freedom of speech in Hong Kong is one of the major factors that is unavailable in Beijing ruled China. Most of the world countries are attracted to invest and trade with Hong Kong as it has the freedom and separate jurisdiction from China.
China also uses Hong Kong’s currency and equity shares to attract investments into it. Hong Kong is the world’s second-largest economy.
Now, the unrest in hong kong and the steps that are being taken by the Hong Kong CEO, Lam and the statements issued by China is making the situation worse.
Since June the unrest in Hong Kong is a burning issue. China has chosen to suppress the demonstrations through its military. But, in Hong Kong, there is freedom to express. So the Hong Kong government is acting accordingly.
Yesterday, there were some indications from Lam that she may announce the withdrawal of the controversial bill completely. But it did not happen until today. However, she has already declared the bill as “Dead”.
But still, the people of Hong Kong are not trusting it. Hence, the pro-democracy activists have chosen the path of demonstrations.
The present situation indicates more troubles for the Hong Kong government as well as the normal people. Pro democratic activists nor the Hong Kong Government is ready to step down from their respective demands.
Let us hope that the situation in Hong kong settles down fast. On one side already the Trade war between China and the US have created havoc in the trade market which has its negative effects. Now, this unrest in Hong Kong may further deepen the Trade market troubles.