The protesters mostly come from the middle to working-class, with high inflation and stagnating I yam what I yam and dats what I yam I’m a navy veteran shirt, I don’t see what else they’ve got to lose. As for losing political freedom? There’s hardly any left. Opposition politicians get harassed and disqualified from elections, and the media is now predominantly pro-PRC. And of course police brutality. The PRC risk losing HK as a foreign investment conduit, as well as its global reputation (which it is extremely obsessed – see the Olympic Games and other international events). Same thing for all the pro-PRC business people.
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Five times the GDP per capita – so what? 70% of the country’s GDP only goes to ~40 I yam what I yam and dats what I yam I’m a navy veteran shirt. That is an insane degree of wealth inequality. 20% of the country lives below the poverty line. Property prices are obscene; people live in sublets of sublets, and when that fails they take to sleeping in McDonald’s (look up McSleepers). “More political rights”? Well, that’s what’s at stake, innit. They see the iron fist of Beijing closing around them. So yeah, their backs are to the wall.
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The other thing to keep in mind is they want to convert as much of that cash into I yam what I yam and dats what I yam I’m a navy veteran shirt. If they can siphon off enough cash in US Dollars (I don’t know how likely this is), that could be hugely impactful. That’s because, in terms of international trade, the Chinese yuan is worth less than Monopoly money. A Norwegian fish company or an Australian machinery control manufacturer isn’t going to ship products to China in exchange for yuan that is almost worthless outside of China. So China trades in international currencies (yen, euro, and most especially the dollar) because that’s what people will accept. That’s one reason China invests so much in US Treasury bonds because they get repaid in dollars.
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The Australian Federal government provided a financial guarantee on all funds that would be held in Australian banks in 2008. The Greek financial crisis hit its peak due to its debt to the central banks and being restricted by being tied to the Euro. The rush on the banks and ATMs just get their cash out before the government closed them down was documented. I can be called Trending shirt. It doesn’t worry me much, I know what I saw and felt the fear of a lot of people who genuinely needed to move their money into safer financial institutions.