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What Hong Kong Unrest Means For Asia’s Financial Hub

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Hong Kong has witnessed clashes between police and protesters since April, after the city government attempted to amend extradition laws to allow criminal suspects to be tried in mainland China. The change was seen by many as creeping influence from Beijing over the special administrative region. Hong Kong Chief Executive Carrie Lam soon pronounced the extradition bill ′ “dead” and apologized for how the situation was handled. But some experts think there’s more to the protests than just the extradition bill. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #HongKong What Hong Kong Unrest Means For Asia’s Financial Hub
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Text Comments (1558)
FearFac_17 (29 days ago)
😔
qjtvaddict (2 months ago)
I am surprised NYC isn’t going the HK option
Tango Zulu (2 months ago)
I think CNBC is the least bias of all the US news medias.
min na (2 months ago)
Violence is the way government is using. Now Hker is becoming the enemy of Hker under the eyes of police.
Iwasa Toru (3 months ago)
?? the protesters hurt financial hub?? sounds weird ...CNBC = BAD... the same as this?
John Doe (3 months ago)
2:03 From what’s happening since then, the objectives behind Hong Kong protest are more like: • Right to beat up ordinary citizen with opposing view and be granted amnesty in advance • Right to carry out arson attack on individual and public facility at own free will • Right to vandalize public and private property or businesses with no consequence • Right to ride on MTR subway train and not have to pay • Right to shout DLLM at anyone and at any time regardless of age, race, or gender Yes, Five demands, Not one less............
Y Fox (3 months ago)
Analysis of dispassion, nice job
StoryFire Fan (4 months ago)
The Bill is not only dead but Hong Kong is dead. Hong Kong's police and protesters are killing the positive vibe and dynamism of the Special Administrative Region. Hong Kong is not like Hong Kong but more like a typical war torn city plagued by civil war. How can its government be so adamant and continue to rule by fear and intimidation instead of being accountable and responsive. That way, they are reinforcing the anger and fear of the protesters by refusing to offer consessions and continue to perpetuate injustice. Worse, the protest movement may be infiltrated by pro-Beijing spies to undermine the whole movement. This gives a convenient chance for the world to condemn the pro-democracy protesters despite the fact that the police is the one that provoke the unrest. I can't believe how shallow minded most people are commenting down below. Typical pro-Beijing bias.
Tashi Dhundup (4 months ago)
Hongkong people are doing excellent movement. Basic human rights is very important. Freedom of speech, freedom of religion. Freedom of traveling. Hongkong people are are leading group who come forward and fighting the right of human beings. Hongkong people are inspired to the world.
Paz Cavejitto (4 months ago)
A disparity between political corrupt elite and middle class earning humiliating flat demoralizing wages
Paz Cavejitto (4 months ago)
A revolution is imminent in the years to come
Paz Cavejitto (4 months ago)
I never trust Chinese government just read 5000 years of oppression ruthlessness to their own people
michael MASTA (4 months ago)
Tell the police to wear or provide ID when they are asked. Stop hiding behind there CCP style. HK is not China yet. Article 27 read it. The police are breaking their own article of law. The police should be in Jail. And Carrie Lam needs to be put in jail. God willing the CCP will die soon.
Joanne Marshall (4 months ago)
Why are they so worried about fighting for criminals rights???
Doggorunning (4 months ago)
No this protest is about China .... period. They don’t want anything to do with them. Period. End stop
dan goh (5 months ago)
These terrorists wen face wt a police, one to one, they turned into mouse instantly.
Yang Cao (5 months ago)
Soros wants to do 1998 again with color revolution
Charlie Chan (5 months ago)
For many people that have been to china, knows that most of china actually still looks like a 3rd world country. And everbody know their government treats their own people like slaves... So it's no surprise to see them disrespect the rest of the world.. When was the last time, you hear someone say, hey I'm going to china for a relaxing vacation?!?!
zhmz888 (5 months ago)
If HK wants to harbour criminals, free to have them...mainland would not give a damn...bunch of fools..
Yang Lingzhi (5 months ago)
the 5th demand is actually about "Universal suffrage",I'm wondering why CNBC changed that. What to fear?
JVS 3 (5 months ago)
15 weeks, $$$ in destruction and disturbances to business and society.. Time for the police to bring guns to the riots and put an end to it. Start shooting anyone destroying property and throwing or using deadly items. The US police would have used deadly force after a few hours not waited 15 weeks and $$$ in destruction and damage to society. Enough time for the police to use lethal force and end this
Union commodity mining & energy Co., ltd. (5 months ago)
New world conflict in Asia after Syria in.middle east. CIA just put support on.Joshua,Wong Politic is politic no mercy in politics, the conflict of 2- powers, changing Hong Kong to SYRIA WAR IN ASIA.
Selamat Markani (5 months ago)
Spore is its own country while HK is not. So lets not compare freedoms in those 2 places. Spore's way of governance is to understand the people & then formulate policy while in HK the CM just bulldoze thru
John Chen (5 months ago)
HK used to be the ONLY international trading hub for China until the big Chinese cities took over it before WW II. After the CCP put China in communist control HK became the only trading hub again. In the 1980 & 90s HK took cared of every trade out of China, thus HK made tons of money. But in the 2000s Chinese big cities and banks started to phase out HK as the hub. Last year HK GDP was 0.1%, which has 40% consisted of REAL ESTATE development. There was hardly any export to bring money in. HK economy has been on the dying road for 5 years while the RE billionaires made more money from common working residents. The only way to save HK economy is to turn it to like Shenzhen, a production city. Put those young rioters in the production lines so as to make export goods. Establish and ENFORCE the rent control ceiling (to 1/2) so the 10 top RE billionaires will leave, along with hundres of thousands lazy bum rioters (who don't want to work hard). Then the rents will drop significantly for the hard working people who now are producing export goods.
Cardina Cheung (5 months ago)
Hong kong used to be the safest place in the world, now under Chinese rules, you can tell how much fear hong kongers have under the communist party.
Wendy Wendy (5 months ago)
China govt don't care if hong kong citizen leaving. They have a lot of people replace them.
Cardina Cheung (5 months ago)
Yes, 1.4 billion people, that's how the locust take over.
Wendy Wendy (5 months ago)
Carrie Lam need to resign for her mistake. She is standing to china side instead for the Hong Kong people. Therefore she has lost the trust of the people of Hong Kong. The citizen want the city mayor who is able to represent 2 big side happy.
True North Strong and Free (5 months ago)
My...my....things have certainly deteriorated haven’t they! And who’s fault is it.....why Carrie Lam of course for not dealing with the extradition issue when it was obvious with 2,000,000 protesting in the street, that it was a bad idea. She hid for over 18 weeks and did nothing except complain she could not even go to the hairdresser without being harassed by protestors. Perhaps she was waiting for the Central Government in Beijing to assist but they threw her under the Bus! False bravado moving troops to Shenzhen! So now she has 5 demands instead of 1 to deal with. The world is watching very closely as Taiwan is in Chinas sights as well. Hopefully what happens in this case, is that the United Nations finally grow a pair and give full sovereign nation status to Taiwan. There will be China and there will be Taiwan. They can trade with each other and China will have to get along with Taiwan as an independent country as they do with Singapore or any other ASEAN country. Last time I checked, most people have an aversion to being ruled by a despotic, cruel, evil, totalitarian communist dictatorship such as China is. Let it go China! Nobody wants to play with the school yard bully. You will never be chosen and you will have to take your evil game play and retreat back within your borders and stay there.
Saint Louis (5 months ago)
To Mr. Xi (Chinese Communist Party) and Ms. Lam: You do not own China, the Chinese people or the world. Human beings like you just want freedom and a decent life. Do not use your powers to get that away from them. And you have nuclear power, a huge military arsenal and a permanent member of the UN >> do not use it to bully the world and grab propery that other people need for their living. Killing people will not stop the world from the thought that you are liars, bullys and exploiters. 习先生(中国共产党)和林女士:你不拥有中国,中国人民或世界。像你这样的人只想要自由和体面的生活。不要用你的力量来远离他们。你拥有核电,庞大的军事武库和联合国的常任理事国,不要用它来欺负世界,抓住其他人赖以生存的财产。杀戮的人不会因为你是骗子,欺负者和剥削者的想法而阻止世界。
lass1234 (5 months ago)
Finally one of the main stream media talks about the main factor behind the protest - Housing price! Little does one know, average Hong Kong resident spent at least two-third income on paying back a 30-ish-years mortgage. Within the 30-so-years, if you were unemployed or the home value declined you were pretty much screwed and bank-owned. -says by a Hong Kong resident
ALICE (5 months ago)
Who stopped higher tariffs to China? Just check on their money.  It has been revealed that China Founder Group (Fangzeng company) is the one who set up Shanghai and Hong Kong stock market computers and they are able to rewrite their computer Han, Chinese codes to manipulate the market, New York stock exchange has been influenced as well.  How stupid our administrations have been. We must know the swamp beside Trump administration.  Why the CCP always can outplay us?  Trump should Stop looking at Hong Kong and New York stock exchange to deal with China, all are manipulated by China and increase tariffs to China, help Hong Kongers. Whoever beside President Trump that is in charge of economics and trade talks are so stupid when dealing with China.
beef women (5 months ago)
Isn't it convenient to the police that the protesters attacked them suddenly without any provocation against their own self-interest? Hmmm.
lixjiejie (5 months ago)
Those so-called peaceful protesters are destroying the city. Way to go.. misinterpreted the extradiction bill, or probably use it as an excuse to demand demand demand. I think even if HK Govt gave in to their 5 demands, they will want more. Paving the grave of the city
Nathan Costa (2 months ago)
You were paid one half-renminbi for saying that.
Paz Cavejitto (5 months ago)
Monsieur ! believe what you wish...Shakespeare, what a piece a work is man how noble in reason, how infinite faculties and form and moving , how like an angel 😇 in apprehension , how like a god , the beauty of the world , and yet to me, what is this quintessence of dust!
James Comiskey (5 months ago)
Nice bit of Chinese influenced reporting
CW (5 months ago)
News media provide too much publicity for these student manipulators trying to destroy HongKong!
Lee Kh (5 months ago)
Let's analyst what are the 5 demands. Extradition law? Is to punish the evil and criminals and it's not to catch the public. The tycoons are worried. Release the roiters who were disrupting essential services and rioting? They were caught in the act. And instead investigate and imprisoned the police who were doing their duties to maintain law and order? What a joke Let HK be independent?..is already agreed to be one country two system. So the demand is basically nothing if the riot haven't started. For the extradition law is already suspended. For Independence... Even if all 7 millions protest it'll never happen. Remember there are 1.4 billions in China. So it's good to maintain peace and work and progress within the framework given by the one country two system. Don't destroy what you have but appreciate it and make more business. Seek for better things like welfare, low cost housing for HK citizen esp to develop Lantau island for HK people and restrict foreigners from buying. But the tycoons there won't be happy as it would effect their property prices. Otherwise ask yourself why Lantau so much land why is it not develop? Otherwise if recession happened it will be too late. Who actually are suffering now? HK esp the middle income earner and the poor. Wonder how many businesses is impacted by these riots and how many will close shop and people retrenched....not in China but HK. Will China give up their HK state? And let it be a usa base? I think not in the wildest dreams or in a billion years. ... and the 1.4 billions people won't allow that to happen. That's the reality.
Allyinthewonderland Z (5 months ago)
你的闡述很有條理。👍說出大家想說的。8月尾香港的五星級酒店从3千多一晚降到200块,還是沒人住。導遊月收入从3萬降到4千。大量酒樓結業。未來,廢青真的要喝西北風。
Ice Blue (5 months ago)
These protestors make demands sounding like the US democrats. LOL
beef women (5 months ago)
LOL. You're so funny. These people are fighting for their freedoms and are being killed by the police. LOL.
Ice Blue (5 months ago)
Why did the US weighed in about extradition bill?
Ray Mon2 (5 months ago)
Too many people injured on both sides...step down.
k (5 months ago)
this is the point of the protests, because nobody listens until money starts disappearing
Erick Cisneros (5 months ago)
I read somewhere, I cannot remember exactly , but I heard when HongKong changed sovereignty to Chinese, the mainlanders started buying the property raising the price of real estate.
Erick Cisneros (5 months ago)
Agreed they have got to build an enormous island filled with high rise condos with affordable places to live! Everyone deserves a nice place to live that one can afford! The Mainland Chinese do & the HongKong citizens too
King Alexander I of Yugoslavia (5 months ago)
5:58 Notice how they did not mention the USA.
Peter Cabauatan (5 months ago)
So, who's trying to spoil HK as Asia's financial hub?
Stacy Clarkson (5 months ago)
Singapore has demographic problems as does China,they/ Singapore would love an influx of young Chinese!
vanessa yu (5 months ago)
I feel bad for the stray animals though..
Porsue (5 months ago)
If only china allowed freedom of speech and stop those surveillance things then maybe hong kong people will change their minds who would want to live their life in complete surveillance browsing the internet ? Nope China's government won't make it easy want to say something about the country ? Be carefull cuz hours later you may be at a prison
gonchin5678 (5 months ago)
A bit dishonest with the reporting on the amendment to the extradition Bill at 0:30. The highlighted part is not the amendment to the Fugitive Offenders Ordinance (FOO, cap.503) which would do the extraditing. Rather, it is the amendment to Cap.525, which with this amendment would allow you to seek legal assistance from HK if you are under Chinese legal proceedings. Why did they highlight this one? Allowing people to ask for HK legal assistance when in the PRC seems like a very good change, right? You can protect your rights with assistance from a more open and free court system. Well, it is the only time the amendments specifically mention the PRC, so they flash it quickly, narrate something else and play on your emotions. The amendment to cap.503 is a general change, which allows HK to use it on a case-by-case basis to ANY TERRITORY. Cap.503 is a very strong bill, following the UN Human Rights framework. Sadly, it only applies to 20 territories. It has been successfully implemented and used since its passing on the 25th April 1997 (yes, the extradition law is 22 years old - passed months before the handover of Hong Kong to China.) This year's amendment aimed to strengthen the FOO, and allow the Bill to be used for every territory in the world. People commit crimes and run to Hong Kong from all 190 territories. HK needs a system to send them back to face their respective courts. The amendments have been deliberately muddied, and only half the story told. A good chunk of the protesters can't even recite "the 5 demands" that they supposedly are fighting for.
Dyan vernanda (5 months ago)
The housing price is falling
Dean (5 months ago)
Are cops there called racist also ? 🤔
Caroline Lato (5 months ago)
Hong Kong police are currently reported to being armed by U.K. arms dealers . . . .... ?
racin undead (5 months ago)
Aren't elderly pepole suppose to show example but to Hong Kong I guess they don't know that their homes are so small that a toilet is littaraly next to the bed
racin undead (5 months ago)
Tf why did that elderly man attacking a woman no shame no shame at all
Sigma Geranimo (5 months ago)
#HKEXIT
henry chuah (5 months ago)
China come out do something.
Sabby Tse (5 months ago)
not "M and C's" its MNCs (multinational corporations) 3:51
Alissa Ma (5 months ago)
The protesters (X) Rioter(X) Scum (√)
_ (5 months ago)
4:24 Damn that is *trippy*
Stevena Carlos (5 months ago)
China will take it soon its over !
rogers owen (5 months ago)
western dirty hands are behind hong kong riots
rogers owen (5 months ago)
but this time it seems to be true
Nathan Costa (5 months ago)
rogers owen That’s what China’s media says
जय भारत (6 months ago)
God Bless Hong Kongers, I fear the statanic PLA is planning to attack these innocent people,like they did in 1989, Tiananmen square masscare, The coward PLA!!!
Comrade of the Balance (5 months ago)
Vikram Singh define coward. Also you even BELIEVING the PLA will do something is stupid. The mainland government knows better than to allow the PLA to come in like during Tiananmen
King King (6 months ago)
If we burn, you burn with us.
Lodemé Carp (6 months ago)
China government is the real culprit. See what he did to other Asian countries. #Bully
worldpeacefighter (5 months ago)
Lodemé Carp i dont think there's problem about that, if you dont like this, fight to China, or shut up
sigit putra tanoko (6 months ago)
fake media, where is the protestor molotov, where is the protestor stones? cnbc lets talk about the US 22 trilion $ debt, look like US will never gonna pay a dime
Lam Par (6 months ago)
There are other suitable locations in that region to replace HK as new Asia Financial Hub, no need to worry about.
Jan Kvapil (6 months ago)
4:40 average** not median, what is with leftists not understanding math? The wage gap is null void of importance in the west and far east. The leftists should be talking about the middle east, but they never do.
Jan Kvapil (6 months ago)
Honestly, I'm with Hong Kong having freedom, but ai don't think it should be brought up at the g20, considering how the US didnt want Iran to have a democracy
pascogiguere (6 months ago)
They wish they had the 2nd amendment now
Ben Wong (6 months ago)
Hope major foreign companies start moving to other nation, like SG.
令狐冲 (6 months ago)
傻逼港独,草泥马
zhmz888 (6 months ago)
unrest?? fxxking riots..real bullets should be used an machine gun should be taken out to teach those mobs..
Cinder Cinnamon (6 months ago)
Teach them what exactly? Not to oppose CCP rule? Freedom to people!
Adrian Chin (6 months ago)
These people are so dumb.disgrace..chinese are Chinese don’t matter if you in Jamaica,Guyana,Trinidad ,Cuba Hong Kong Panama Taiwan USA,Canada.forget the white man deception
Guess Guess (6 months ago)
Keep on spreading propaganda USA . Nothing can change the fact Hong Kong is China
C Chin (6 months ago)
If those terrorist keep doing this to Hong Kong. No one in Hong Kong would have future. Those terrorist do not represent we Hong Kong people. We will not compromise with terrorist try to use gas bombs to burn down police stations and their home. We will not cooperate with terrorist who would beat up police and anyone who disagree with them.
Paz Cavejitto (6 months ago)
Trump is not dealing with a “ full deck of cards” he’s playing with himself ....I don’t trust his rhetoric ...the markets technicals and fundamentals are explicitly clear
BLACK HAND (6 months ago)
I'm reading comments about the old peeps are losing a lot more than the young generation protesting. Oh trust me they're going to lose a lot more than the old peeps, all the old peeps can see is the life they've built, all their assets being destroyed. I can understand that but the young one's FUTURE is on the line here. And they're not protesting something trivial or stupid, their protest has depth, truth and danger behind it
Austin Lee (6 months ago)
Lazy youths are destroying their country instead of building it
Coco Taveras (6 months ago)
Austin Lee Respectfully, I disagree their doing their country an amazing service by trying to cement a future of liberty for all of the city's inhabitants against an authoritarian regime which wants nothing more than to tighten its grip and restrict said rights even more, like what they have done on the mainland with the media censorship, military crackdowns, and arbitrary arrests.
Ayrun Stark (6 months ago)
I don't think they have enough police officers or prisons to stop Hong Kong. Good luck to Freedom! It will come to all.
Kenji Lim (6 months ago)
HK need help from ILLUMINATI n FREEMASON.
Larry Wong (6 months ago)
very well put together and informative. thank you.
Coco Taveras (6 months ago)
Larry Wong Agreed, that's what I personally love about CNBC.
Eastdarth (6 months ago)
Easiest way to slow down protesters is to cut off the internet - the young cant live without wifi😆
AriVovp (6 months ago)
The violent comes from Chinese Communist infiltrated bad actors. Mainly. They use this tactic to stir up the crowds and causing chaos
William Levy (6 months ago)
Why did ANYONE accept being taken over by a communist country would end well ?
ArgoNaga (6 months ago)
They never accepted they were meant to as the uk stole hong kong from china and since imperialism is now hated upon today they have to hand it back
Shane XC (6 months ago)
The market gonna speak of your aint giving what the people want
Flak Lognon (6 months ago)
trump as discedited democracy in china the psy-op failed period, cant hide it they will have to make major walk back on their narrative lol
SF Chong (6 months ago)
https://youtu.be/VYWuLoAYrgE
Chris Muller (6 months ago)
Sounds like china wants some democracy!🤣
Chris Muller (6 months ago)
@guilueng chou lol, point proven 😂
guilueng chou (6 months ago)
There is no need to tell the people through time that the tragic stories of Afghanistan, Iraq, Libya, Syria, Egypt, and Ukraine have proved the truth of these "democracies."
Chris Muller (6 months ago)
@guilueng chou time will tell😉
guilueng chou (6 months ago)
The People’s Republic of China is already a democracy. China no longer needs additional ideological debates. Economic liberalism and political elitism are suitable for China.
Chris Muller (6 months ago)
....wwAd? What would Americans do?
Anthony Soares (6 months ago)
CNBC will never comment from a pro democratic POV. they will always favor the establishment. EAT THE RICH
Pan John (6 months ago)
I think this report is fair. Just one thing, Singapore is better than Hongkong because they are Authoritarianism, Less liberty, No protest. that's interesting.
ClayDog (6 months ago)
Just wait till ANTIFA does this in the USA
BenPa Aka (6 months ago)
But I do disagree the protests now is because of the housing problem! Instead, the freedom of the Hongkongers are being seriously threatened by the PRC government, moreover the situation is being more worst by the brutality police force of Hong Kong! Message from one of the Hongkongers
ArgoNaga (6 months ago)
I guess people forget that you would have gotten shot at back when you tried to protest in a communost state but now whine when you get tear gased when you destroy property
Tak Tsing (6 months ago)
They are mob. It is nothing to do with democracy, equality or human right. The mob do all the damage, attack those have opposite opinion. They do plenty of damages but not a singal construction.
S T (6 months ago)
You are salty because the protesters aren't white?
T D (6 months ago)
Free Hong Kong—Support Hong Kong for democracy and human rights!!👍
herrdirektor1969 (6 months ago)
Lam should be jailed as a traitor to HK.
Paz Cavejitto (6 months ago)
One of the ads taken out by Li Ka-shing—a 91-year-old tycoon worth $27 billion, according to the Bloomberg Billionaires Index—was aimed at the Chinese government. It referenced a Tang dynasty poem that calls on an empress not to kill her own children. The other, aimed at protesters, called for an end to violence and cautioned that the best intentions can have the worst outcomes.
Der Las (6 months ago)
W
Matthew Golden (6 months ago)
My home office is over 120 sq ft.
张彦文 (6 months ago)
In conclusion, HK is a part of China