Hong Kong's Long-Term Economic Role Is at Stake Amid Demonstrations

If unrest over the bill continues, it could reinforce existing worries that the gradual erosion of autonomy from China will damage its appeal as a financial hub. “Hong Kong is a Chinese city with Western institutions and a rule of law, and if these qualities are threatened, what would be the advantage of Hong Kong compared with other cities in China?’’ said Gareth Leather, a senior Asia economist for Capital Economics Ltd in London. Hong Kong’s economic growth slowed in the fourth quarter of 2014 from the previous period, and the government back then partially blamed that weaker performance on the protests, saying it “affected tourism, hotel, catering, retail and transport industries.” The government also said then that “prolonged political bickering is detrimental” to Hong Kong’s international image as a stable and efficient city.

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