On Breakingviews – Some 2 million people in Hong Kong have forced China into a political retreat. The experience teaches lessons for another billion folks living in developed economies, says edwardhadas:
LONDON - Some 2 million people in Hong Kong have forced China into a political retreat. The experience teaches lessons for another billion folks living in developed economies.
First, set specific and realistic goals. Hong Kong residents would prefer much greater autonomy, but many of them also recognise that China is not about to discuss a broad structural change. Carrie Lam, the city’s reeling chief executive, faced only a simple demand, one her political masters in the People’s Republic could conceivably accept.
Fourth, reasonably balance disruption and destruction. There were some blockages in Hong Kong’s central business district, and the police used tear gas and rubber bullets in response to some rock-throwing. Demonstrators, however, were largely peaceful and careful not to give authorities an excuse to respond violently.
That will be a sea change from the China of a generation ago, a country whose leaders were almost desperate for foreign markets, technology and expertise. The transition has already started, and it looks like the United States, the soon-to-be-former global hegemon, has a lot to learn. As for economic leverage, China’s trading partners have a big supply, but seem unable to deploy it well. The American blitz of random tariffs and corporate controls is counterproductive. It only encourages greater Chinese efforts at self-reliance. Tough sanctions on Huawei, for example, will slow down Chinese development in telephony, but a likely result will be more intellectual property theft and a stronger company emerging a decade or so from the world’s largest market.
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