There are currently pro-democracy protests happening in Hong Kong and some firms and businesses are being affected by them. Many banks are temporarily closed because of the protests. However, it is said that the protests will not have too much impact on economy or financial stability as long as it is short-term.

This news surprised me because I went to Hong Kong this summer for vacation and I personally have many friends from Hong Kong. Because I have many friends from Hong Kong, I was aware of the issue that China and Hong Kong are having since China took back control of Hong Kong in 1997. From my perspective, China and Hong Kong are completely different in terms of political system and other aspects. The biggest difference is their political systems; democracy and communism. Hong Kong has its own government and because it used to be a British colony, their political system is closer to Britain’s than China’s. Also, from these protests, it is clear that citizens in Hong Kong are more likely to support democracy over communism. Considering these facts, it is unfair and unethical to take away their promised democratic rights even though Hong Kong is going to go back to China in the near future.

However, even though this might be the biggest protest that Hong Kong has had in their history, it is extremely hard to change China’s decision. Firstly, because Hong Kong does not have many people compared to China, and secondly, because China’s government and the nation itself have much greater power than of Hong Kong. In the article, Fitch Ratings head of Asia-Pacific Sovereigns Andrew Colquhoun said that these protests will not last long and will not have much impact on their economy considering the facts above.

However, this might be a good chance for both China and Hong Kong to discuss their relationship and issues they have been having for a long time. Since Hong Kong has to go back to China in several years, they cannot keep competing each other like this forever. They somewhat have to find a way to sort out how their relationship is going to work without harming any rights or cultures that they have respectively.

http://www.bbc.com/news/business-29405480