Hong Kong tycoon Li Ka-shing has reportedly lost $3 billion since the protests began in June. Reuters: Bobby Yip
ABC News Online: Hong Kong billionaire tycoons call for end to protests as unrest affects their profits
Hong Kong's property tycoons are hurting, the share market is tanking and the tourism sector has taken a beating as the pro-democracy movement continues to strangle the city.
While the US-China trade war has fuelled some of the losses, weeks of violent protests have wreaked havoc for investor sentiment and caused huge reputational damage for the semi-autonomous territory as an economic powerhouse.
As the protest movement enters its 11th week with no signs of slowing down, analysts are predicting the financial hub is barrelling towards recession.
Now the city's ultra-rich are calling for the protests to end.
Read more ....
WNU Editor: All of these Hong Kong billionaires have close contacts in President Xi's office, and I am sure they are in the loop on what the Chinese government is thinking. The fact that they are speaking out now tells me that they are afraid that the decision to send in the Chinese military will soon be made.
6 comments:
More interesting is this:
Only the billionaires, those with close ties to Xi/the communist party want these protests to stop.
But the protests won't stop.
This is what it looks like when the party loses control
Everyone watching?
The collapse of China.
Right in front of our eyes!
Jb are you Chinese?
When the oligarchs start to squeal the resolution will come. Same with the USA.
Now I’m interested. Just a simple question and a simple answer. How many here think that the U.S.A. Is a oligarchy? The editor and I have had this discussion before. It is a interesting thought and statement for sure.
No I don't believe so, not in the classic sense of the term.
Blackdog
I think America is an oligarchy/plutocracy as are most nations. The term oligarchy and plutocracy are basically synonyms and their respective members are the governing sector no matter what name is given to the form of government, including of course dictatorship and royalty.
From America's perspective the question may be how many of that controlling group are wealthy citizens of other lands including Americans (and corporations who are now international entities) who have basically re-located elsewhere. From what I see the citizens are so manipulated that they basically have little influence in determing what goes on in the country, elections notwithstanding. I also believe that, except for short periods of time, it has never really been any different.
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