Will China crush a Hong Kong eruption? From Tyler Durden at zerohedge.com:
While the world is transfixed by the fireworks unleashed by the plunge in China’s yen to a record low, the real geopolitical hotspot for China remains Hong Kong, and there things are getting progressively uglier following Monday morning’s press conference by Karrie Lam who once again said she will not resign, and warned that “some people” have put Hong Kong in a very dangerous situation as protesters’ actions challenge the “one country, two systems” model and threaten prosperity by seeking to ruin the city by calling for “revolution” or the “liberation of Hong Kong.”
In a press conference in which Lam was flanked by eight top officials, including chief secretary, chiefs of finance, commerce, transport, security, health and civil service as well as home affairs undersecretary, she said she is taking responsibility by staying on to serve, arguing that resignations by her or others won’t help (several million protesters would beg to differ). Her solution: “Upholding the rule of law is the way out”, by which she means the people conceding to Beijing’s demands.
“Such extensive disruptions in the name of certain demands or uncooperative movement have seriously undermined Hong Kong’s law and order, pushing our city, the city we all love and many of us helped to build, to the verge of a very dangerous situation,” Carrie Lam says.