• About Us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI English
TFI हिन्दी
Sunday, August 14, 2022
TFIGlobal
TFIGlobal
Right Arm. Round the World. FAST.
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • Premium
  • Indo-Pacific
  • Americas
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • Premium
TFIGlobal
TFIGlobal
No Result
View All Result

How Can Hong Kong get back at China?

Abhyoday Sisodia by Abhyoday Sisodia
October 21, 2021
in China
Reading Time: 3 mins read
0
Hong Kong china
341
VIEWS
Share on FacebookShare on Twitter

Last year, the Chinese Communist Party under Xi Jinping practically took over Hong Kong, ignoring the deal with the United Kingdom and the will of the people in an iron handed way. However, as the situation of the Chinese economy becomes more and more precarious, Hong Kong has got its opportunity to get back at China and Xi Jinping. According to data from the Hong Kong Census and Statistics Department, the number of people fleeing from Hong Kong has been steadily increasing, with the territory’s population reducing by 110,000 people from 2019 to this year. The installation of a National Security Law in China has certainly resulted in a major population exodus.

While it in itself is a concerning story for Beijing but, Hong Kong is losing not only residents but also overseas firms. Vanguard Group, the world’s second-largest asset management firm, VF Corp, and Sony Interactive Entertainment, for example, have relocated their top regional management to Singapore. The world’s largest luxury goods company, LVMH Moet Hennessy Louis Vuitton, has also relocated its personnel from its Hennessy alcoholic beverage branch in Hong Kong to Singapore. While it was not able to withstand and tackle the introduction and implementation of the National Security Law, now it can make Beijing pay hefty sums of money.

Also Read

Like, Share and Subscribe: Ukrainian officials share classified information on social media to get famous

Biden hatches a plan to kill BRICS with SCO. A geopolitical joke of the funniest kind

The extreme vulnerability of China

Xi has taken a spate of decisions over the past year that has led to China’s economy bleeding. The recent collapse of property giant China Evergrande Group’s downfall has exposed a fragile real estate bubble in China. Land sales are dwindling in China with Xi’s tight regulatory measures that prohibit financial support towards construction and property projects. As the Chinese real estate bubble bursts, onshore and offshore bondholders stare into huge losses running into billions of Dollars.

Read more: Is China’s Soviet-split moment here?

Meanwhile, Xi is murdering private enterprises. He is cracking down on Tech and Edutech enterprises relentlessly which has led to the State-owned enterprises surpassing the private sector in China. Meanwhile, the Chinese stock markets are crashing and hurting the interests of both domestic and overseas investors. As per the Washington-based Institute of International Finance (IIF), China’s debt stood at 300 per cent of its GDP in 2019. However, the overall debt burden is hard to estimate, given the country’s tendency to use local government financing vehicles for bypassing direct debt.

The power sector crisis, which has been triggered by Xi’s decision to avoid importing Australian coal has led to major suffering. Thermal projects in China that were fine tuned to work with Australian coal are suddenly collapsing and the entire Communist nation is getting engulfed in blackouts, even as factories and manufacturing units shut down in China’s industrial belts.

The situation in Hong Kong

On 5th October, investor expectations of increased interest rates fueled a global sell-off in technology equities, with a Hong Kong benchmark tracking Chinese technology firms closing near a record low. The Hang Seng Technology Index, which began trading in July of last year, dipped 0.3 per cent after recovering from earlier losses of up to 2.5 per cent. The index, which includes Tencent Holdings Ltd. and Alibaba Group Holding Ltd., is set to fall for the fourth week in a row.

While Hong Kong surely is not able to take on China in the show of force, these developments in Hong Kong along with the investors leaving and moving to other countries is in itself a shred of evidence. This can make China bleed when it is in the most vulnerable situation, thus, getting back at China for its actions against the people of Hong Kong.

Tags: CCPChinaEvergrande groupHang Seng Technology IndexHong KongShort takesXi Jinping
ShareTweetSend
Previous Post

Jinping’s action against Caixin is his first step towards a political suicide

Next Post

China used to capitalize on other countries’ miseries, now other countries are capitalizing on China’s coal crisis

Also Read

Chinese citizens

After the Taiwan episode, even Chinese citizens realize China is frikking ‘paper dragon’

August 5, 2022
Yoon and Pelosi

The South Korean President did not even meet Pelosi and there are valid reasons for it  

August 5, 2022
Taiwan US China

US gives Taiwan a $600 million jolt before the ostentatious Pelosi visit

August 3, 2022
Finland has had enough of EU’s diktats as it starts deepening economic ties with Russia

South Korea and Russia join hands to help North Korea break out of China’s trap

August 1, 2022
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Trending
  • Comments
  • Latest
UK power

UK is doomed, and Belgium is making fortunes out of it

July 29, 2022
Iraq kicks out China’s biggest energy company

Iraq kicks out China’s biggest energy company

August 12, 2022
Russia crashes West’s chip infrastructure by turning off Helium and Neon supplies

Russia crashes West’s chip infrastructure by turning off Helium and Neon supplies

June 3, 2022
LNG

Australia blocks gas and oil supplies to Europe  

August 3, 2022
Zimbabwe inflation

Zimbabwe ditches American Dollar and shifts to gold; more African nations to follow the suit

July 1, 2022
canada, bill gates, trudeau

The Canadian democracy is dying, and it’s Bill Gates strangulating it

August 14, 2022
Mother nature now strikes entire Europe

Mother nature now strikes entire Europe

August 14, 2022
Crispy beetles, red ant pudding: Canada is being subjected to culinary assault

Crispy beetles, red ant pudding: Canada is being subjected to culinary assault

August 14, 2022
Trudeau, Canada, vaccine, liberal

Canadian government accepts vaccines don’t work

August 14, 2022
NATO’s plan to block Russia’s access to the Gulf of Finland has a Kaliningrad-size loophole

NATO’s plan to block Russia’s access to the Gulf of Finland has a Kaliningrad-size loophole

August 14, 2022
Youtube Twitter Facebook
TFIGlobal
  • About us
  • Contact Us
  • Terms of use
  • Privacy Policy

©2022 - TFI MEDIA PRIVATE LIMITED

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • Premium

©2022 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Follow us on Twitter

and never miss an insightful take by the TFIGlobal team

Follow @tfiglobal
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.