Umbrella Movement has hurt the HK economy?

[updated on Nov. 24, 2015]

Contrary to dire predictions by anti-occupiers, the Hong Kong economy and the stock exchange have been doing well overall.

Opponents of Hong Kong’s Occupy Central Envision Chaos 

Joseph Yam, executive vice president of advisory body China Society for Finance and Banking and a former Hong Kong central bank chief, said the city’s financial integrity and stability of its currency were … at risk. “Hong Kong’s economic prosperity was built on its intermediary role between the mainland and overseas, especially in the financial realm,” said Yam, who urged student protesters to return to their homes.

China could ‘punish’ Hong Kong over protests, says ex-HK central bank chief

Interview: Occupy was ‘a protester’s dream’ but not good for Hong Kong – Allan Zeman

A year after Occupy, Hong Kong government struggles to respond:

The Hong Kong government’s inability to confront an unsustainable political system must eventually impact its international business standing. The government has become a bovine clerisy of civil servants and appointees on life support from a benevolent Beijing, where its importance to China is increasingly a romantic delusion.

Why Sa Sa is blaming politics for its dismal results

But:

[Dec. 3, 2015] Lam: Occupy had ‘negligible’ impact on business confidence in HK

[Oct. 15, 2015] HK ranks no. 7 on Mori Memorial Foundation’s Global Power City Index 2015

[Sep. 15, 2015] Hong Kong remains world’s freest economy: Fraser Institute 

[Sep 24] HK ranks no. 3 in the Global Financial Centers Index after New York and London 香港續為全球第三大金融中心 營商環境改善 調查引述金融界:中國過份干預 損港聲譽

[Sep 30] HK stays at No. 7 in WEF competitiveness ranks; Singapore No. 2

[June 29] Hong Kong second in world for inward, outward foreign investment

In the World Investment Report 2015, it ranked Hong Kong second in the world for both incoming and outgoing foreign direct investment (FDI).

Its inward FDI was US$103 billion, second to mainland China, which had US$129 billion, and surpassing the United States (US$92 billion), Britain (US$72 billion) and Singapore (US$68 billion).

Hong Kong’s outward FDI was US$143 billion, second to the United States, with US$337 billion and surpassing Japan (US$114 billion) and Germany (US$112 billion).

Both figures for Hong Kong are records…. The reasons are the same as they have been for many years – an independent legal system, financial security, free movement of capital and free exchange of currencies.

It seems that it is CY Leung’s approval ratings rather than economic indicators that have gone south: As Occupy ends, CY Leung performance rating falls

Occupy protests had little impact on HK economy: report

Hong Kong tourist arrivals jump 12pc despite Occupy uncertainty

Li Ka-shing said that losses in retail sales were small https://thestandnews.com/politics/李嘉誠評傘運-損失少-要講良心話/

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Hong Kong, the Resilient City: Economic and political data show that dire warnings about the pro-democracy protests have proven inaccurate

Finance Secretary John Tsang announced on Oct. 21: “economy and markets stable despite protests”

Hong Kong Stocks Defy Protests to Post World’s Best Gain

And “Mainland Chinese group tours to Hong Kong up 90pc despite mass protests–Figures appear to contradict claims business is hurting”. Also Total visitors up 12.6% from October 2013, mainland visitors up 18.3%

Shopping malls not hit by weeks of protests, say developers:

World Bank says Occupy protests fail to impact Hong Kong’s business climate

Foreign investors unfazed by Occupy protests: Cubbon

Occupy worries fail to deter bids for stalls at Lunar New Year Fair

Property prices have gone up【佔中後市經濟數據不跌反升】

Calls to choose small mom-and-pop shops near occupy sites:

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Why some taxi drivers have begun to miss Occupy 

Maybe the protest means good business for HK’s T-shirt makers because mainland factories refuse to print anything with the umbrella logo: Mainland T-shirt suppliers allergic to yellow umbrella design

Tung Chee-hwa and Hong Kong government’s ‘gloom and doom’ propaganda hokum 

Regardless, Hong Kong businesses hurt by democracy protests to get relief in budget: Across-the-board government giveaways expected to compensate companies that suffered losses during 79-day mass protest

Pro-democracy legislator “Long Hair” says it is pro-establishment legislators who have hurt HK’s economy by supporting  “white elephant projects”  長毛:建制派令香港損失5,687億! Money pits: 8 Hong Kong government ‘white elephant’ projects

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[July 1] If the high speed rail link had been rejected as pro-democracy legislators and street protestors demanded… MTR, Hong Kong government on collision course as cost of Guangzhou rail link soars to HK$85.3 billion

—–

The 2016 slowdown is caused by the Umbrella Movement?

See the bursting of the China bubble : If it’s the economy, stupid…

[April 1, 2016] Gov’t rejects Standard & Poor’s reason for downgrading city’s credit outlook

[Mar 12, 2016] Financial Sec. defends economy after Moody’s downgrades HK debt-outlook to ‘negative’

—–

A broader analysis: “Yasheng Huang: Does Democracy Stifle Economic Growth?” (http://www.ted.com/talks/yasheng_huang.html)

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3 Comments

Filed under Umbrella Movement

3 responses to “Umbrella Movement has hurt the HK economy?

  1. Pingback: Targeted boycott and noncooperation — “If we withdraw now, we would lose everything that we have been fighting for”? | Hong Kong's Umbrella Movement

  2. Pingback: Democracy and chaos? — erosion of freedom without democracy | Hong Kong's Umbrella Movement

  3. Pingback: Which side is undermining the rule of law: protestors or the government? (Michael Davis) | Hong Kong's Umbrella Movement

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