http://www.scmp.com/business/banking-finance/article/1603781/hkma-activates-emergency-action-plan-occupy-protests-extend
Hong Kong is currently going through one of the worst protest the city has seen for decades. Tens of thousands of people right now gather around Hong Kong’s busiest areas to send a message to its government about the decision to elect candidates selected by the chinese government for Hong Kong’s next chief executive.
But what does this mean for Hong Kong moving forward. Politically, the world is unease by the government’s shock decision to hurt unarmed students however it is unknown whether ‘Occupy Central Movement with Love and Peace’ protest is actually affecting Beijing’s decision.
Personally however I think that this movement does more damage to Hong Kong than it does good. Think of Bangkok only a few months back, its protest lead to many potential tourists to switch destinations, Hong Kong is considered a ‘shoppers paradise’, but as a result of the protest, demand for domestic goods are likely to decrease, the exchange rate between the Hong Kong Dollar and US Dollar is slowly decreasing, potential shareholders are likely to back off now due to the political risk that Hong Kong is going through.
“The protest will definitely create short-term uncertainty and volatility,” (Charles Li). In the short term, the protest will only cause difficulties for Hong Kong. Being from the city itself, I can only hope that this issue be resolved as soon as possible so that Hong Kong can return to being the financial powerhouse that it once was.
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