Hong Kong remains a gateway to China’s gargantuan market. Few know this better than Cathay
in Hong Kong operated under the convenient illusion, nurtured by China’s Communist Party, that the mainland would not meddle in the territory’s business affairs. That faith, already shaken during weeks of political protests against the entrepot’s pro-Beijing government, is in tatters following China’s treatment of Cathay Pacific, an airline based in Hong Kong.
Businesses have a right to be rattled. The assault on Cathay is unprecedented in its speed and scope. Chinese state media shrilly denounced the company, and social media brimmed with indignant calls to boycott it., China’s state broadcaster, reported Mr Hogg’s departure half an hour before Hong Kong’s bourse, where Cathay is listed.paired it with a Chinese internet meme that roughly translates to “You would not be in trouble if you had not asked for it.
Many in Hong Kong balk at such subservience. David Webb, a respected activist investor, called Cathay’s concessions “the most appalling kowtow to Peking” and said that its “shameful appeasement” had done great damage to its brand. On August 20th Jeremy Tam, a Cathay pilot who is also a pro-democracy lawmaker, said he had quit the airline.
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