Essay writing

ESSAY WRITING 8

Essaywriting

Topic:“Bad Effects of China’s Government in Hong Kong’s Economy”

Noble,J. (2014, Nov. 5) Hong Kong economy feels impact of protests.Financial Times.Retrieved fromhttp://www.ft.com/cms/s/0/b61a6a60-64c4-11e4-ab2d-00144feabdc0.html#axzz3Vbv1e34H

Theinformation in the resource is reliable because diverse experts havegathered the information. Besides, the article uses verifiedanalytical data to support the economic impact on Hong Kong economyprior and after the protests. A survey released by purchasingmanagers in Hong Kong in November 2014, in dictated that privatesector activities dropped sharply in the month of October. Theprotests that were led by students closed several main highways inthe central business area of Hong Kong. The protesters were callingon government to make changes in electoral reform plan due to startin 2017. An association of retail management in Hong Kong reportedthat its members experienced sharp falls in their sales in month ofOctober. Hong Kong economy is under pressure as a border dispute withmainland China increases. Retail sales have continue to decline dueto anti-corruption drive, which has caused a reduction in demand forjewelry, watches, as well as other luxury goods. Several economistsexpected decline in economic growthdue to a direct disruption oftourism and retail sectors caused by political stalemate.

Ramzy,A. &amp Bradsher, K. (2014, October 2). Hong Kong Leader Refuses toResign, but Deputy to Meet With Protesters. TheNew York Times. Retrieved fromhttp://www.nytimes.com/2014/10/03/world/asia/hong-kong-protests.html

Thesource is a publication of an international and trusted dailynewspaper, New York Times. The authors write from an objectiveposition, which allows him to explore the events the consequences ofthe demonstrations from an impartial angle. Furthermore, he providesproof for the assertions he makes through providing URLs of relatedarticles that supports his premise. The “umbrella revolution”movement has been viewed as a nightmare that Communist Party Leadersmust deal with since inspection of “one country, two systems”agreement. Protesters’ grievances did not stem from the lack ofdemocracy only. The youth in Hong Kong complain so much about theeconomy. They complained of a system fixed against them by wealthytycoons in Hong Kong. They also experience influence of Chinesegovernment in an area reserve for them. Educated Chinese from Beijingtake jobs that were preserved for Hong Kong graduates. Chinesegovernment has tightened its control over media and stopped activistsas well as independent intellectuals. The government has also beentough on restive border regions where terrorist acts, suppression bypolice, and ethnically charged violence have led to deaths of manypeople.

Enda,C., Charles, H. &amp Kathy, C. (2014, Oct 7). Hong Kong Protests Setto Leave Lasting Impact on Ties With China. TheWall Street Journal.Retrieved fromhttp://www.wsj.com/articles/hong-kong-protests-set-to-leave-lasting-impact-on-ties-with-china-1412713283

Theprotests have stimulated sections of Hong Kong society, which mighthave remained dormant, resulting into a political populace, which mayforce Beijing to go an extra mile to cater for their demands. Thesedemands include addressing concerns about the gap between poor andwealthy, as well as dissatisfaction with power level wielded by theHong Kong’s tycoons. Although territory’s share of the economyhas reduced, economy is the primary sector for prominent Chinese toinvest and work. Economic sector offers an opportunity for middlemento do investment. It is also a testing place for liberalizing tightlymanaged Chinese currency. Currently, Hong Kong is ranked numbersixty-one in international press freedom. Chinese government isaccused of using its economic power to extend the influence overmedia in Hong Kong.

Hussain,Z. (2014, Dec 1). What’s The Impact of the Hong Kong’s Protests?BBCNews,Retrieved from http://www.bbc.com/news/business-29438025

Inyear 2003, Chinese government forced Hong Kong to accept strictnational-security law that made about half-million protesters to getinto streets. They viewed the national-security law as a threat tocivil rights that Hong Kong inherited from British colony. As aresult of the protest, the Hong Kong leaders rejected that securitylaw. Chinese government reacted to that move and expelled the thenHong Kong’s chief executive. Officials from Chinese government tookhigher profile, while those from Hong Kong just wrote in local papersexpressing their opinions on political development in Hong Kong.Later, Chinese government offered economic inducements likepreferential access to mainland’s services sector. Most Hong Kongnewspapers have turned to pro-Chinese government only promoting itsagenda.

Craig,S. (2015, March 2). Hong Kong’s rich-government, poor-growtheconomy. MarketWatch.Retrieved fromhttp://www.marketwatch.com/story/hong-kongs-rich-government-poor-growth-economy-2015-03-01

Theprotests were initially political in nature however, some economicissues were also concerns of protesters. China has reduced itsdependency on Hong Kong’s economy for the past two decades, butthere is a significant economic tie between the two. Hong Konggovernment complained that protests will cause harm and disorder tothe economy, but Chinese government took a hardline against theseprotesters. Hong Kong authorities are run by a legal system bestowedupon by British. The officials cannot handle the unrest throughnegotiations, thuggish violence, or treat the ringleaders ruthlesslyas well as tighten control over media just like Chinese governmentofficials. The primary demand by protesters is freedom of Hong Kongpeople to vote for their candidate as chief executive in the 2017elections. Current election plan proposed by Chinese government allowcandidates to be vetted by a committee formed by party supporters.

Michele,K. (2014, Dec 1). Hong Kong counts cost of protests on city`s coreshopping districts. Thestraits times.Retrieved fromhttp://www.straitstimes.com/news/asia/east-asia/story/hong-kong-counts-cost-protests-citys-core-shopping-districts-20141201

Theresource analyzes the level of damage Hong Kong protests caused, andthe possible effects of the damage on the country’s economy. Thewriter is a veteran author dealing with global financial topictherefore, he comprehensively covers the consequences of thedisruptions that came from the demonstrations. Hong Kong stock marketexperienced about three percent decline for few trading days afterprotests started. The protests have caused a shutdown of severalschools and banks. The positive influence of mainland tourists hasreduced due to protests. It was a surprise to Hong Kong governmentbecause there was no prediction of decline of mainland Chinesetourists. However, the government is also blamed partly for declinein tourism. It has reduced its investment in travel and hospitalityfacilities. Instead of constructing new tourist attraction sites, theHong Kong government has focused on building more transportinfrastructures. Demand for local consumption and tourist spendingdeteriorated in year 2014. Retail sales value reduced by 0.2 percentin 2014 from an increase of 11percent in 2013. Nevertheless, thelabor market conditions remain constant. The occasionally adjustedunemployment rate was 3.3 percent from November 2014 to January 2015.

Reflection

Thestudy of influence of Chinese government on the Hong Kong economy isimportant because it helped me to understand current economicsituation in China. In addition, the information from the articleswill provide primary data for my project.

References

Ramzy,A. &amp Bradsher, K. (2014, October 2). Hong Kong Leader Refuses toResign, but Deputy to Meet With Protesters. TheNew York Times. Retrieved fromhttp://www.nytimes.com/2014/10/03/world/asia/hong-kong-protests.html

Enda,C., Charles, H. &amp Kathy, C. (2014, Oct 7). Hong Kong Protests Setto Leave Lasting Impact on Ties With China. TheWall Street Journal.Retrieved fromhttp://www.wsj.com/articles/hong-kong-protests-set-to-leave-lasting-impact-on-ties-with-china-1412713283

Noble,J. (2014, Nov. 5) Hong Kong economy feels impact of protests.Financial Times.Retrieved fromhttp://www.ft.com/cms/s/0/b61a6a60-64c4-11e4-ab2d-00144feabdc0.html#axzz3Vbv1e34H

Hussain,Z. (2014, Dec 1). What’s The Impact of the Hong Kong’s Protests?BBCNews,Retrieved from http://www.bbc.com/news/business-29438025

Michele,K. (2014, Dec 1). Hong Kong counts cost of protests on city`s coreshopping districts. Thestraits times.Retrieved fromhttp://www.straitstimes.com/news/asia/east-asia/story/hong-kong-counts-cost-protests-citys-core-shopping-districts-20141201

Craig,S. (2015, March 2). Hong Kong’s rich-government, poor-growtheconomy. MarketWatch.Retrieved fromhttp://www.marketwatch.com/story/hong-kongs-rich-government-poor-growth-economy-2015-03-01