Protesters against the Hong Kong government continued its demonstration over the weekend, showing no signs of dying down. Their sights are now on mainland Chinese business and those with pro-Beijing links.
Last weekend, pro-democracy Hong Kong protesters spray-painted anti-China slogans on shattered branches of Chinese largest banks, and trashed China-related ATM outlets. Hong Kong based restaurant Maxim’s Caterers also felt the protesters’ anger after the founder’s daughter blasted pro-democracy protesters. U.S. coffee chain Starbucks has also become the new target of protesters after a family member of the local restaurant chain that owns the local franchise condemned the protesters at the United Nations human rights council in Geneva.
Protesters covered multiple Starbucks branches with anti-China graffiti.
A powerful hub for global trade and finance, Hong Kong is integral to the global economy. Given that it’s home to many global businesses, the escalating violence will only add to the headwinds blowing against the global economy.
In August, the protests across Hong Kong have caused severe turbulence at Cathay Pacific, the flag carrier of Hong Kong. Cathay Pacific Group CEO Rupert Hogg stepped down after the Chinese government criticized him over the participation of the airline’s employees in street protests. His deputy, Paul Loo Kar-pui, also resigned. China demanded that the airline suspends staff involved in the protests. The Hong Kong Confederation of Trade Unions said at least 20 pilots and cabin crew have been fired so far.
China’s National Day
On Tuesday, the People’s Republic of China celebrated its 70th year anniversary. Protesters spoiled the celebration by crowding government buildings. The protests descended into violence when Hong Kong police shot a protester at close range. Authorities said despite the warnings, the protesters continued their violent attacks on police officers, prompting an officer to shoot.
Related article: Embracing National Day Holiday, China and Hong Kong Markets Closed
