Hong Kong protests could threaten city’s status as an international shipping hub, analysts say.
While Beijing has never spoken publicly about the economic consequences of the escalating protests over the past two months, a widely shared view within China is that the central government should reduce its reliance on Hong Kong as its key financial and logistics gateway to the rest of the world.
This could result in mainland ports having greater autonomy in managing the shipment of goods into and out of China, analysts said.
China this month upgraded and expanded a free-trade zone in Shanghai, which covers an area about the Hong Kong Island and Kowloon combined, with the ambitious goal of becoming “China’s bridgehead integrating into a globalised economy by 2035”.
Dr Collin Wong Wai-hung, associate dean of the School of Decision Sciences at the Hang Seng University of Hong Kong, estimated Hong Kong could lose all transshipment rights in the non-Pearl River Delta region, which could translate into a loss of 2.4 million container twenty food-equivalent units (TEU) – a measurement of standard container sizes. Should China fully relax cabotage rules in other parts, this could dent Hong Kong’s annual container throughput (the cargo passing through the port) by 14 per cent. (SCMP)
Posted by laychee > Aug 16, 2019 2:08 PM | Report Abuse
Extreme measure will invite western countries' intervention. It could into a big snowball.
It is within the Basic Law that PRC can move in at the request of HK government. Of course, if the inevitable comes. Macao government have made such request after the flooding caused by Typhoon Mangkhut to assist in the clean up.
All the billionaires tycoons who make fortune in HKG should be the party who intervene.....Over-capitalist causing social unrest and , wealth inequality Society Why the wealth gap? Hong Kong’s disparity between rich and poor is greatest in 45 years, so what can be done? A HK$690 billion budget surplus and expanding economy, but a growing divide between the haves and have-nots. Why is Hong Kong so unequal, and what are the solutions? Our nation also same similar problem...all the rich, powerful elites getting rich but poor citizens getting poorer. Then, we use ZAKAR NAIK as distraction of real issue. wakaka
This is the legacy of British rule, namely unbridled capitalism. Total free market. Making a fortune during those times are never easy. Wealth inequality is great simply because the British cares only abt their own colonial interest not "Golden Rule". Yet, the protesters are worshiping the British like gods.
Just look at KL. A decade ago,in response to complaints abt developers building expensive condos to cater for foreigners, Hishamuddin replied "this is free enterprise" and that the government cannot intervene.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
laychee
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Posted by laychee > 2019-08-16 13:21 | Report Abuse
Most of the HK problems came from expensive housing. LKS made a lots of money from property developments.