The true cost of China’s Hong Kong crackdown
Economically, the unrest in Hong Kong doesn’t have much effect on China’s bottom line. But internationally, it’s a different story
Events in Hong Kong have taken a dramatic turn in recent weeks. Last weekend’s municipal elections, which are normally a dull affair, became a lightning rod for anti-Beijing sentiment.
The elections resulted in a huge turnout and vote share for pro-democracy groups. The protests have had a severe effect on Hong Kong’s economy, but China’s next steps could have far-reaching consequences for the mainland itself.
Hong Kong’s GDP dropped...
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