Hong Kong Activist Leader Calls For a Run on Chinese Banks
- Young and very rash and brash leader. He is making a stupid mistake. Even if for arguments sake all Hong Kongers withdraw their monies from Chinese banks in HK, will these banks collapse? Say US$100B-200B is taken out? I don’t think so. For arguments sake, if the bank runs really happen: HK will collapse. Who will be blamed? Obviously, he and all the opposition protesters. Who will suffer the most? All Hong Kongers except for the ultra rich. So this plan he is proposing is actually good for China. Because when HK collapses, China can obviously blame the opposition and it is entirely true.
– - He is taking an approach of war with China. That is the dumbest approach. HK is part of China. To attack the motherland is a bad idea. Hong Kong’s future is China. The prosperity and economic health of HK is dependent on China. Without China, Hong Kong will collapse. The Chinese have a saying:飲水思源, when you drink water don’t forget its source. Hong Kong need China for its survival. When China retaliates and pulls the economic plug on HK, it is Game Over for HK.
– - The opposite is NOT true. China do not need HK. What does HK (and Taiwan) have that China definitely needs? Money, technology, port, financial system, manufacturing, people, expertise ….? None of it. Can you name me 1 HK company that is a global leader? Lenovo, HuaWei, XiaoMi, Midea, Haier, TCL, SMIC … they are all mainland Chinese. If HK were to be burnt to the ground, there are very few significant consequences to China. If HK protesters insist on using HK as a war zone against China. The conclusion is obvious: China may not win but HK LOSES 100% BIG TIME. Game Over!
– - The only reason China will never allow HK (and Taiwan) to break away is: it will trigger the breakaways of other mainland Chinese cities, provinces … etc. China came about through a “thousand” years of war amongst many competing states. Until finally it became: Three Kingdoms Period. A brutal emperor QinShiHuang conquered and united China. Do you think any Beijing government will allow China to break apart and return to a situation of warring states? Millions will die. A simple understanding of history will lead you to the conclusion: China will never allow HK (and Taiwan) to breakaway for this reason. The central government will allow HK (and Taiwan) to burn to the ground before they consider allowing them to break free.
– - Is the Chinese central government really an unworkable partner for HK? I don’t think so. Who allowed/agreed to let HK having a separate system from China? Who allowed opposition parties, limited voting rights in HK? Who agreed to a 50 years re-unification plan? China was under no legal obligations to agree to any of these. But they agree to it. So, you sure the Chinese cannot be partner in HK’s future. HK is 100% Chinese territory and they can force through China’s system at will. The fact that they are not forcing their will on HK, tells you, you can work with them.
– - Hong Kong Activist Leader Calls For a Run on Chinese Banks
by Paul Joseph Watson, Chen Haotian asks citizens to withdraw cash deposits to target Chinese banks.
Prominent Hong Kong pro-independence political activist Chen Haotian has called for a run on Chinese banks, asking that everyone withdraw their money on the same day.
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Haotian is a founding member and the convenor of the Hong Kong National Party. Arguing that large scale protests have only led to injuries and escalating police brutality, Haotian believes another method could be used to severely undermine China’s influence – a good old fashioned run on the bank. He suggested that another method could be used, namely, impacting the financial system,” reports China Press.
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“He called on Friday (August 16) that Hong Kong citizens take out all bank deposits. The primary goal is Chinese banks, but he said other banks should also be targeted, otherwise Chinese banks can borrow money from other banks to solve problems.”
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Hong Kong has been rocked by weeks of violent protests by pro-independence campaigners. Earlier this week, riot police stormed Hong Kong International Airport to clear them out.
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As we reported on Tuesday, while China is unlikely to invade using PLA troops, experts have suggested that soldiers could be disguised as Hong Kong police.
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