Hong Kong vs China 2019

[Rocket1k78]

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Protestors now using rubber catapults.

I've watched that video so many times now over the years and each time i still cringe at how painful that mustve been.
The protesters are in a way doing that to themselves though, theyre destroying their own home. Im no conspiracy guy but i think theres a ton of outside money funding this. This is purely a guess from what little i know but i think the mainland is throwing money into this or the very least just sitting back and watching hk kill itself. This has been going on for over 5 months now and the troops were all getting ready to deploy months ago and still nothing.

[370Z]

I personally don't understand it. I love freedom and democracy too... but life in China and being a part of China is not so bad that I would die to fight it. I mean, I feel really bad for people like the Uyghurs in the camps but fuck, I'm not giving my own life up for them. Plenty of injustices in this world, including right here on our own damn country, just look at the the history of how we've treated indigenous and its still happening today.

All I see now is a Hong Kong that's ruined and may or may never return to the beautiful city it once was.

[Xtrema]

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This has been going on for over 5 months now and the troops were all getting ready to deploy months ago and still nothing.

Some say, US wins if PLA marches into HK and accelerate capital flight.

China still need HK financial system which the rest of the world trusts more than mainland ones.

https://asia.nikkei.com/Economy/Chin...-trouble-ahead

As economic slows down in China bankruptcy is becoming more prevalent and there is a lot of fake numbers. And some bankruptcy where the state has to bail out has seen asset being passed to HK before they declare.

https://www.scmp.com/economy/china-e...ld-track-funds

A mainland businessperson, for instance, can transfer assets to subsidiaries in Hong Kong, saddling its mainland entities with the liabilities and subsequently declaring bankruptcy in China.
Zhang Lili, a partner at the Goldsun law firm in Guangdong, which handled over 30 enterprise bankruptcy cases last year, said: “Many bankrupt Chinese enterprises often have lot of assets in Hong Kong.”

This is the original reason for extradition treaty. Not that Taiwanese murder BS. Businessmen are taking all the money and use HK as springboard to get their wealth out of CCCP's reach. It's still a communist authoritarian government. Wealth in China can be taken by government overnight.

I won't be surprised the protesters funding came from these factions.

[ZenOps]

https://www.cp24.com/world/massive-t...test-1.4699893

Referendum time! Protest or crack the skulls of Protestors.

[ExtraSlow]

So, what does the election result mean for this situation? Does it actually change anything? Seems pretty meaningless to me as an outsider.

[lilmira]

They expressed their discontent with the local government and asked for a change so they got it. We'll see what happens. Hopefully the violence will subside and the place can heal now. Hong Kong has a long road ahead.

[Xtrema]

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So, what does the election result mean for this situation? Does it actually change anything? Seems pretty meaningless to me as an outsider.

It's meaning-less in term of power. But it's a shot from the bow.

Now watch what the mainland reaction will be. Unlike Taiwan, there is less economic sanction they can do towards HK other than tourism ban. And the riot pretty much ended tourism already so it's not a threat any more. You can't take away what you already lost.

The only slippery slope I can see is they are mixing operations of the city with political ideology. Just like a bunch of people trying to apply party ideology to our own city hall, it's going impede a lot of works over some stupid grandstanding on something unrelated.

[C4S]

Well....for those who understand Chinese....

LoL

[Xtrema]

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Well....for those who understand Chinese....

LoL

The fact that CCCP has been mostly hands off in HK probably they worry about upcoming Taiwan election. Doesn't matter, poll shows the democratic party is still leading. They will vote in another pro-independence government in Taiwan if polls are to be believed.

So economic sanction from China will continue.

https://www.scmp.com/news/china/poli...n-edge-taiwans

Going against China now is a fight between do you want to hold on to your ideal and starve or give them up for $. That said facing another pro-independence government and potential unrest, a lot of Taiwanese are looking to GTFO and immigrate to US/Canada now.

[TomcoPDR]

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Well....for those who understand Chinese....

LoL

Translate for those that can only read Chinese on a grade school level plz

[Xtrema]

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Translate for those that can only read Chinese on a grade school level plz

Robin: CCCP will control this president election.

Batman: Fuck your mom! They can't even control HK election, let alone Taiwan election.

Of course, there is some lost in translation there.

It perfectly capture old vs young voters mentality in Taiwan.

[Rocket1k78]

Do you guys think theres a chance HK could be a goner?

[lilmira]

If you are talking about the old HK glory days, yeah that's gone but that's been gone for a while. There may be a one in a million chance that it doesn't get absorbed by China. It won't be irrelevant though, it's still at a very good spot geographically and there is still a lot of money.

[Xtrema]

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Do you guys think theres a chance HK could be a goner?

The grand plan is the absorb it via the Greater Bay Area initiative - aka broiling frog. They are definitely not going to wait til 2047. It's just the extradition treaty woke everyone up.

[bob9979]

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The grand plan is the absorb it via the Greater Bay Area initiative - aka broiling frog. They are definitely not going to wait til 2047. It's just the extradition treaty woke everyone up.

For those working class folks, what's so bad about getting absorbed by China?

[ZenOps]

China has a vast pool of hardworking dedicated labor, that works for realistic "cheap" wages. HK kids (say under 20) have no skills above that, and could never survive until they get a unique marketable skill or two.

It would be like trying to make a living in HK selling a loaf of bread at 15 cents profit (which is realistically what it is) China can do it all day and night at that price and still get ahead.

[Xtrema]

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For those working class folks, what's so bad about getting absorbed by China?

Depends on your view if your taxes should serve your local area or country as a whole. The absorption is partly wealth transfer which is nothing new since UK did a lot of that BS, including that sole sourcing of HK airport.

What's bad for working class folks is that 40% tax rate vs virtually 0% in HK. While wages are virtually equal in Shenzhen and HK, the tax reduce a lot of take home pay.

That's the more immediate issue, not counting other legal reforms and check on police/government powers and corruptions.

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China has a vast pool of hardworking dedicated labor, that works for realistic "cheap" wages. HK kids (say under 20) have no skills above that, and could never survive until they get a unique marketable skill or two.

It would be like trying to make a living in HK selling a loaf of bread at 15 cents profit (which is realistically what it is) China can do it all day and night at that price and still get ahead.

There are a lot of cheap labor to exploit as well in HK. Generally it's much easier if you crossed the border. But I believe that is also ending fast as the one child system is slowly rearing its ugly head right now with a bunch of entitled kids.

[ExtraSlow]

How the heck does HK have "virtually" 0% tax?

[rage2]

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How the heck does HK have "virtually" 0% tax?

0% on cap gains, dividends, foreign income. Flat tax rate for business profits. Marginal tax rates for individuals that max out at 15%, with average income tax rates sitting around 5%. This drives investments into HK, with business profits accounting for over 50% of tax revenue. Per capita revenue is about on par with Canada, but much lower when you account for provincial as well.

And they say a fair tax system doesn't work. We just want more so we can spend more. Low, consistent and predictable business tax rates drives investments, which in turn pays for everything. Low income tax rates drives people wanting to invest and succeed in HK. It's worked for a long ass time, and Chinese people are cheap. HK embraces low business tax rates. North America publicly shames companies for paying low tax rates. When it comes to tax, we want to be more China than HK. It's stupid.

[ExtraSlow]

Gotcha. Makes sense to me, and seem to be something that jurisdictions around the world could learn from.