Hong Kong Can't Escape the Turmoil Next Door

Twelve months ago, it seemed Beijing's retrograde politics would eventually sink Hong Kong's exalted international reputation. Now China's ailing economy seems likely to finish off the job sooner than anyone expected.

Hong Kong is dealing with a long list of problems, including tumbling tourist arrivals, a dollar peg that makes it the priciest place in Asia, a precarious property bubble and a leader not up to even mundane challenges never mind an existential crisis.