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The Hong Kong Dollar and the Goose that Laid the Golden Egg
The boldness and persistence of the demonstrators in Hong Kong have captured the attention of the world. China has shown more restraint arguably than others would have demonstrated. So far it offers a stark contrast to Macron's response to the "Yellow Vest Movement" (des gilets jauner) in France, for example. However, the last act in the drama has yet to be played out, and it could still be a tragedy. To be sure, China's restraint is not a function of its respect for civil liberties or human rights. It is a calculus of its self-interest, which can change. Several considerations raise the cost of an imprudent ... (full story)