(Reuters Breakingviews) - Beijing has yielded to Hong Kong’s unique economic sta...
Hong Kong Chief Executive Carrie Lam speaks during her swearing in ceremony on the 20th anniversary of the city's handover from British to Chinese rule, in Hong Kong, China, July 1, 2017. REUTERS/Bobby Yip - RC121A50D6D0
Lam took office in 2017, and is considered a reliable Beijing loyalist. Pushing through the extradition bill, however, came from her, she said. Either way, the central government endorsed it enthusiastically as well. Some tycoons began moving funds out of Hong Kong to Singapore in advance of the bill’s passage, Reuters reported, a hint of the outflows before the 1997 handover from Britain. And not only did the pro-Beijing camp fail to mobilise against the demonstrations in force – as it did in 2014 - the conservative business community began expressing public doubts about the agenda almost immediately. Financial markets wobbled. Worse still, U.S.
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