Hong Kong is braced on a knife’s edge with protests by pro-democracy activists being thwarted repeatedly by Beijing, who has rejected democrats’ demands for the right to freely choose the island’s next leader in 2017. Hong Kong was returned to Chinese rule in 1997 with wide-ranging autonomy and freedom, — under the committed policy of ‘one country, two systems’ — a privilege not enjoyed on the mainland. The activists are protesting for universal suffrage, but Beijing contends that any candidate for the post of the territory’s chief executive must first be approved by a nominating panel which, experts feel, would be packed with pro-Beijing loyalists.
With Asia’s financial centre suffering from repeated lockdowns, the time has come for both parties to gather for mutually rewarding negotiations. Hong Kong enjoys the privilege of being one of the world’s top financial centres. This distinction comes with the stipulation that it enjoys a flexible ambience across social, cultural and mainly economic platforms. Muzzling these benefits could be detrimental. The tension notwithstanding, it could be a tremendous opportunity for Beijing to carry out political reforms and contribute towards the island’s democratic development and stability.
