A City at Boiling Point Needs Cool Heads
Foreign companies must recognize that there won’t be a post-coronavirus return to normal in protest-weary Hong Kong.
Down at the mall.
Photographer: Anthony Kwan/Getty Images AsiaPacForeign companies in Hong Kong should steel themselves for a long, hot summer. Beijing has made clear that it has no intention of lowering the temperature in this battle-weary city. The implications for the territory’s future as a hub of trade and finance may be severe.
Anecdotally, businesses are largely expecting to work through any resurgent protests, as they did last year, once virus restrictions are lifted. Dusting off their 2019 contingency plans may not be enough, though. Despite months of street clashes and an airport blockade, the impact of last year’s demonstrations was minimal for many senior executives and their teams — at least until tear gas was fired in the Central business district. This time, the environment is far less benign.