Quote:
Originally Posted by Weitz
I’m guessing the end result of this is just China moving up taking full control of Hong Kong by 20 years.
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From a geopolitical standpoint, this will be viewed as a significant failure by PRC leadership internally and externally. They've effectively taken full control of a territory that they already had de-facto control over, but lost any chance of peaceful reintegration with Taiwan. Any proposed, one country, two systems proposal for Taiwan/PRC unification will be laughed at by Taiwan as a sham.
This will also cause significant damage to foreign investor confidence in China (63% of China's foreign investment capital flowed through HK) and have long and lasting impact on Hong Kong property values (which was being used by mainland elite to launder money). Which all could have been avoided if they had just pulled the bill for "re-assessment" and found some other sneaky way to push it through at a later point, but PRC party pride prevented them from doing so.