We will continue our fight no matter how much they prosecute us. Such extensive disruptions are punishing our city, the city we love. And, many of us have helped to build, to the verge of a serious situation. [chanting] stephen demonstrations that started as opposition to carrie lams extradition bill morphed into broader resistance to the government, the police, and political interference from beijing and an erosion of their rights. Violence escalated as lam refused to meet demands. Police retaliated with teargas, upper spray, rubber bullets, and pepper spray, rubber bullets, and batons. Vandalism, and civil disobedience continued even after lam acquiesced and withdrew the bill. Nerves are frayed, positions entrenched, hong kong is a city on edge. I am stephen engle, and welcome to this special, hong kong on edge. It calls itself asias world city, the semi autonomous gateway to china, and a Key International finance and commercial hub, and that is but that is coming under increasing threat multiple fronts. You have the political turmoil, the u. S. China trade war, and a widening wealth gap. Hong kong is a worlds most expensive city with the least Affordable Housing market. Many protesters feel left behind financially and politically. That is wreaking havoc on the economy. Fitch has cut credit rankings. Ranking ratings. Small Business Confidence is at a record low and the gdp is heading for a possible recession. I firmly believe that for a lot of these young people, livelihoods, economics, politics, it is important but that is not the primary drive. The primary drive is that they long for a more balanced one country, two systems. Stephen we will try to answer what went wrong and if there is a clear path forward. We have assembled some of the more pivotal figures in hong kongs journey from british colony to Chinese Special administrative region. The iron lady, a nickname that she earned as a last chief secretary under the british and the first one under chinese rule. She was the second most powerful leader in hong kong. What has led to the escalating violence both on the part of the police and the protesters. Stephen the disciplinarian, regina, she was the first female secretary of security. She spearheaded a failed attempt to pass a beijing backed National Security legislation. A lot of violence has been done, we need to be in harmony, but it has also done damage. Stephen martin helped draft the post handover constitution, the basic law that still governs hong kong today. A sharp critic of beijing, he is known as the father of democracy. Martin i have been fighting for democracy for 35 years now. All of these i do things for me. What has beijing done . Ignored us completely. Stephen the career lawmaker who not only served in the British Colonial legislature but the first president of the post handover legislative council. She served for years on the Standing Committee of chinas parliament, the National Peoples congress. Stephen we will not allow our opposition to take us down. Stephen the businessman, he founded the clothing chains before becoming a lawmaker and serving as a deputy to the National Peoples congress. I am in the retail business, i do not think i can hang on for the next few months. Stephen the media tycoon. After founding a clothing line, he went into publishing. He produces the apple daily newspaper. He is often a target of beijings wrath. What we are fighting for is the first battle of the new cold war. Stephen how did this situation get dire, and what are the protesters demands . Can be tiedturmoil to carrie lams refusal to officially draw the extradition bill that she tried to push through the legislature, even as an estimated one Million People and later 2 million marched peacefully through hong kong in opposition. Lawmakers were divided over attempts to change the citys extradition law. Hong kong currently has 20 extradition treaties around the world. The amendments what have allowed expeditions to any jurisdiction extra diction to any jurisdiction on a casebycase basis including two Mainland China, macau, and taiwan, neighboring territories that do not have such agreements. The government pointed to the case of a hong kong man wanted in taiwan for allegedly murdering his girlfriend, but there was no formal avenue to return him to taiwan to face trial. No country or territory wants to become a haven for offenders, especially in serious crises. Stephen the new measure wouldve subjected people here and hong kong to arbitrary detention or unfair trials in china in controlled by the communist party, hong kongs judicial system is based on common law. What is on issue is the lack of trust in the legal and criminal system in the mainland. It is totally untrue that large numbers of hong kong people will be handcuffed or sent to Mainland China. That is part of the fear campaign. Stephen lam in an exclusive interview defended the bill. There are important safeguards in place before a request will be entertained and a fugitive will be returned to that jurisdiction. There is still that perception, and it might be wrong, that hong kongs autonomy is being compromised. Certainly not. We are trying to address the concerns, but it would be wrong to associate this with a high degree of autonomy. Stephen she has since declined further interview requests. As the debate devolved into violence on the streets and into the legislative chamber itself, carrie lam realized that she was fighting a losing battle. She suspended the bill, but there is an important caveat, she did not officially withdraw it. There are lingering doubts about the governments sincerity, or worried about whether the government will restart the process in a legislative council, so i reiterate, there is no such plan, the bill is dead. Stephen it would not be for another 2. 5 tumultuous months until lam would give in. The government will formally withdraw the bill in order to fully allay public concerns. It is unfortunate. It was not handled properly. She apologized for that, time for us to move on, but moving on does not mean we do not deal with the problem. Stephen the next three demands are tied with clashes with police. Demonstrators want an inquiry into Police Brutality but carrie lam has rejected that saying that police have a complaints counsel. Protesters questioned if it could be impartial, and police fear that they could get punished for carrying out orders stemming from a political impact. Protesters want an amnesty for those arrested so far on charges ranging from Illegal Assembly to assaulting Police Officers and rioting. They also want certain clashes not to be classified as riots, which would carry more severe jail sentences for those convicted. Lam will not give in, insisting hong kong must uphold the rule of law. It is the fifth demand, universal suffrage, which is the most problematic. Protesters want to be directly choose their chief executives and lawmakers without interference from beijing. Many question if it will be realistic that beijing will allow that. Currently half of those legislative streets are elected seats are directly elect the elected and a chief , legislative executive is chosen by a committee largely chosen by beijing. They say the local governments intransigence is why in a virtual suffrage is their main goal. Could we have avoided all of this mayhem if carrie lam had simply withdrawn the bill back in june . Definitely. When the first Million People went out, if she had withdrawn it, nothing would have happened in the last three months, and i think the whole thing will calm down. In these three months we realized that unless we have assurance of universal suffrage, we will always have constant encroachments on our freedom. [shouting] stephen this is essentially an illegal demonstration as protesters are defying the ban and have taken over the central part of hong kong, and we have been alerted that police fired tear gas in the nextdoor neighborhood and are asking people to get out. Protesters have adopted revolution of our time, but it is not a call for independence from china, to beijing is a redline, but all of it is keeping hong kong on edge. 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To better understand how it got so divided we need to look back at the most recent history at the end of one colonial leap in the interception of a new the introduction of a new landlord from the north. Hong kongs return to china was enshrined in 1984 with the signing of the declaration and the formation of an unprecedented one country two systems framework to be covered under basic law. Governed under the basic law. Hong kong would serve as a firewall between the different political and legal economic systems between china and the west, that was for 50 years post handover. Protesters feel that china, by backing measures seen as limiting several liberties is violating its promises for a high level of autonomy until 2047. Michael wears many hats, businessman, lawmaker, and deputy to chinas legislature. Michael i am a unique animal. Stephen a lot of the debate is coming down to this book, the constitution for hong kong, and demand number five has more from has morphed from carrie lam you must resign to we want universal suffrage. Universal suffrage is guaranteed for the chief executive and legislative council, but there are interpretations. From your perspective is china reneging on the pledges made in this book. Michael everything written in this book is not involved in a does not involve a clearcut yes or no. Universal suffrage is laid down as the ultimate. It is a gradual process, and in accordance with the actual situation of the day. If the violence continues, i am sure you agree that no government can hold any sort of elections. It really hurts me that a hong konger should come up with this excuse. Stephen ultimate aim is a long timeline. Is it written purposely vague . During the first 10 years we will be developing, and they promised that by the end of the 10th year we could have it. But now we do not have it. They want to hold them to it. Stephen in 2014 and 2015 there was a rejection of beijings proposal that would have given permanent residents a right to vote, but for a very small, prescreened, vetted beijing, pool of candidates. At the time, it seemed like that would be the best offer on the table. It is the difference between a rotten banana and a rotten orange. The issue is very simple. Do you trust the people and give them of vote, or do you want to control the result of those elections . It was put beautifully at the time which is that beijing does not mind elections so long as they know the result before the first vote is cast. My colleagues vetoed that resolution. Stephen was that the best offer beijing was going to give you . Yes, it is on the table. Forget about this, this is sheer common sense. We are not coming independent, becoming independent we are , still part of china. A lot of people forgot that china is still a communist regime. Highly authoritarian, let us all remember and face that. Those who cannot accept that they have to think about whether they want to live in hong kong. The question is how do we maintain a reasonable balance of two systems within this structure. What they are offering, china is offering, which i totally support, is that they controlled the nomination, and we choose the candidates. People have realized that they have a voice, and that we have assurance. It is very clear, after millions and millions of people went out to demonstrate what we got, nothing but a realization that the fight has to go on. Stephen you did not had does he did not have democracy under the british. We have the institution and we had the institution. We had the rule of law and the free markets, private property rights, and open society, free press, all of these institutions is what democracy could guarantee. If the violence continues, frankly there are more in more people waving the american flag, they will worry. What if universal suffrage returns someone hostile to beijing . If one country two systems fail, who will benefit . Certainly not hong kong or china, but it will benefit the party in taiwan who is looking for taiwan independence. I would not be surprised if someone gives me evidence that that party is involved in instigating all of these riots. Stephen beijing has accused Foreign Forces and taiwan of stirring up the forces. Of stirring up the unrest. The Mainland Affairs council has rejected such claims. I do not think that the community of hong kong could train them or educate them to such an extent, just look at the way that they are so well organized. They must have been trained. Certainly, the rhetoric used by a lot of the ringleaders matches up for the calls for independence. Stephen while the protesters use social Media Movement is social media to mobilize. The movement is widely seen as ring leader led. With noeaderless. Figureheads to target, mainland state media has singled out martin lee, alberto, and jimmy as the new gang of four. It is lexicon for enemies of the state. They are the editor in chief of the global times. In our eyes, they are ruining hong kong. The people call them the gang of four. It is a metaphor that is quite appropriate. This is a threat of evidence that a foreign country is popularizing this demonstration. Stephen youve been called a u. S. Stooge, a traitor. Are you . Well, i am just an owner. I consider it a badge of honor. I have always been honest and sincere about the promises that were given to us, and i want to hold them to it. You promised democracy, and they call me a traitor. It is their fault, not my fault. Stephen the mudslinging is making matters worse, given that there is no solution to the mayhem if there is even a table. Every day i receive threats from that side and this side just saying what they want to show. It is absolutely polarized. I think they need to articulate and appealing vision of our future and the one country, two systems. Does it mean hong kong is involved in china. A lot of people only see the downside of integration, but not the upside. Stephen back in 2003, you were the face of the amendment proposed for article 23, for National Security, they had laws that sparked what half a Million People came up with the streets and end up with the downfall of a politician. You know what is like to be vilified in this town. You were vilified. How back then and now does the Hong Kong Government keep on underestimating or misreading the public discontent . I think they admitted to that that the legislative efforts failed to keep the pulse of the people and she misread the situation. If it had not been for the people marching and together the executive and the legislature, which is a rubber stamp, what have passed the legislation and that points to the bigger issue is that all of the policies made by the government come from an unelected government and the people are wising up to that. That is why they are still coming out and protesting. I think that was the last straw that broke the camels back. Before that we had a whole series of action on behalf of the government which eroded hong kongs rights and freedoms, which took away our civil liberties, and narrowed the space for political discourse. I believe we have highlevel autonomy as described in the basic law. If we did not have that we would not be handling our present situation in such a way. Stephen up next, the standoff enters a critical phase as business is are forced to toe businesses are forced to tow the china line. All of my people are quite terrified. Hey. Hey. You must be stevens phone. Now you can take control of your home wifi and get a notification the instant someone new joins your network. Only with xfinity xfi. Download the xfi app today. Stephen protest in hong kong are having direct and indirect effects on a demand and number of our businesses. We are the people, if this government does not represent People Like Us the economy will not grow again. We are the capital of the economy. Stephen welcome back to hong kong on edge. It is a city where making money and not trouble is the lifeblood. It is clear that the economy is suffering. Businesses are struggling to stay afloat. I think shortterm for hong kong is going to be painful. We have the trade war, the china trade war with the u. S. Hong kong will be Collateral Damage to that. And then we have our own social unrest that we have to deal with. Stephen that is a big deal to the global agencies, citing the uncertainties surrounding the arrest, fitch downgraded its outlook. It change the outlook from stable to negative, and that is something we find disappointing, and we do not concur. There is a risk going on right now, and i do not particularly agree that it discredits its fundamentals. From a pure credit perspective, hong kong is bulletproof. They did downgrade them. I do not blame them. When you have ongoing unrest, people start to worry about safety. Saying that the basic law is in jeopardy, but this is a huge test. Stephen many argue that the economy may have been do an overhaul anyway. In a nutshell, it is because we are declining in competitiveness. We used to monopolize all the intermediary functions for china and that is no longer the case. Our economic function is narrowing, and people of my generation, we get accelerated quickly, it is not the same for the young people. I have a lot of sympathy for them. Many Chinese Students come to hong kong to attend university. Those are the cream de la cream of china. Our students are not as industrious and intelligent as they are. Stephen it is a harsh assessment given the fact that so much of hong kongs upwards mobility or lack thereof is tied to the sky price of property. There is an extreme shortage of land, especially parcels set aside for low income housing. Property tycoons controlled much of the wealth and land and they have been relatively quiet throughout the summer of discontent, some, like a man that hong kong citizens called superman have put out fullpage ads that say no to violence. They are not taking sides that they are not offering any solutions either. The property tycoons have enjoyed an unfettered monopoly for decades. Holding onto scarce land to drive up prices. Home prices in what is the least Affordable Housing market have risen 48 in the last five years. I think mrs. Lam took too long pussyfooting around the problem. We are not wiser, we all know what the options are. She should have moved in more strictly and put forward more radical solutions. Stephen even mainland media has criticized the property tycoons to adding to the angst of society. It is little surprise that the real power brokers are keeping their heads low. Behindthescenes they will say that they are worried and they can see the implications of what is happening to some extent. Some of them understand where the protesters are coming from, but publicly, particularly those who have business interests that can be affected by beijing either here or in china itself, of course they have to be seen to be telling the line. Stephen they also do not want the extradition bill. They should be thanking the protesters for stopping it dead in its tracks. Stephen perhaps no developer has suffered more damage from the protest and the citys subway operator, whose stations have turned into battlefields. I never knew or expected that mtr would become a target. All we have to put our heads down and ride through it. Its like going to turbulence. I just hope that the turbulence will not be too long. Stephen mtr has taken heat from all sides. Not only having to worry about orchestrated disruptions but the trashing of its stations. Police fired tear gas of protesters and hose them down with pepper spray inside. On top of that, Chinese State media is attacking the company for running Additional Trains as protesters have used the system to take part in demonstrations. No matter how much i disagree with someone, i do not think i have the right to hurt or damage the normal daily life of other people. I think they just wanted hong kong to go down the drain. Stephen their slogan is if we burn, you burn with us. They want everyone to burn with them, but why . Stephen there is another icon of hong kong business with an even worse pr nightmare than mtr, Cathay Pacific airways. Not only has traffic fallen, the airline is facing heavy backlash from china for employees taking part in or supporting the protests. It says that it will comply with all of the demands of chinas aviation regulator which threatened to block it from chinese airspace. It has ordered staff not to take part in illegal protests, and its chairman and ceo have both resigned and other employees have been. It is not fair if you cannot explain to me what the reasons of me being terminated, i have done nothing wrong. Stephen they confirmed that she was no longer an employee and stated that her firing had nothing to do with her union role. What happened with the staff is the metaphor for its top management. Some of the Senior Executives set the terms and they think that chinas National Aviation authority has pointed out that rogue pilot who might guide the aircraft into a city, then they could have legitimate concerns. Stephen come on. That has happened. A german pilot has financial had psychiatric problem and crashed the plane against a mountain and all passengers killed. They explained to me the safety warrants. Stephen is it a threat for other companies that they have to police what people are posting on the internet . I have been told American Companies do the same thing, facebook has shut down some of our accounts which seem to be too extreme. All governments set down some rules. Those who are happy to do business in Mainland China will do business in hong kong. But if you treat hong kong differently because it is international, then those people must be having second thoughts now. This is such an awful example of the international community. I think it is a serious threat. Once beijing or the government is seen to be introducing Political Considerations into what should be purely a commercial activity and decisions, and furthermore affecting the behavior of the staff, even during their spare time, then confidence in hong kong would definitely be seriously undermined, and you can forget about hong kong status as an international city. Every company is trying to ensure that by in large your people do not get too involved. Every company in hong kong, we have people who are yellow ribbon. Nothing wrong with that, as long as you perform your work and you do not propagate independence of hong kong. No country can control the staffs mind, actions, what they say, what they do in their private time and space. Stephen but they can control it by firing and that is what we have seen. Countries do not have the right to do this. They cannot operate with this kind of ethics from china. They cannot do that. Stephen it is illegal for companies to do that . In hong kong you have a right to peacefully demonstrate and a right to freedom of speech. It is illegal. It is against the human rights. Nobody will work for a company like that. You would not find people to work for you. If you were to think about all of the problems in hong kong that are facing today, shortage of land, housing, whatever you call it, antichina sentiment, it really boils down to a lot of people do not feel like they are a stakeholder. Carrie lam, out of all the mistakes she made in the past, i thought something that really disturbed me is that a lot of the young people today are not stakeholders. Our young people were protesting. They always think everybody is wrong except themselves, the government is wrong. The elderly people are wrong. Pro establishment people are wrong. Stephen it does not help when the chief executive calls them spoiled children and says they do not have stakes in society. Many of them have never done anything for the society. They have not yet contributed, they are still studying they are using the money of the taxpayer. That is sending an uncompromising signal. For me, everyone is a stakeholder. Whether or not pay taxes, you should listen to everyone. Stephen beijing sends hong kong a notsosubtle warning. The pla is a strong force that defends its territory. If you want your home to improve, do not destroy your home. I think it is a last battle for us to fight for our future. If we lose this time than maybe more people got arrested and prosecuted, and may be something worse is going to happen. I think they do not understand history. Stephen welcome back to hong kong on edge. Long weekend marches have for the most part been relatively peaceful. There is a smaller, radical element to the protest movement who have taken to violence, antagonizing police. That is one reason why Police Actually banned this rally. But as you can see, thousands showed up anyway, angered at the arrest at some of their leaders. There is an even greater force than politics further polarizing the people of hong kong, that is the situation devolving into violence. Against the police, by the police, against the public, and property, whatever and whomever are caught in between. Citizens are turning on themselves. Give a wrong look or wear the wrong color, speak the wrong dialect invites trouble. Pent up rage is hard to contain. The police force is being stretched to the extreme. If the people lose respect for the police and they teach their kids that all police are bad people. I dont know how hong kong can continue. I have a great deal of compassion for the police, they are not to be put in this insidious position of standing between a very intrinsic government and the population at large. They say the police use Excessive Force in carrying out their duty. You see that on the television screen. But everyone is surrounded by three or four policeman, and they have already tied him up. And you still see people hitting him. That is a fault. Every day that goes by there is confrontation between police and the radicals. There will be footage shown on social media, it will increase the hatred towards the other side. Every day it is building up, every time there is a confrontation, the police are not safe, the police is not one person, it is a bunch of people. It is so easy for one policeman to be caught on camera, hitting someone, may be for seemingly no reason and that will be blown up. Stephen as protesters anger broadens from frustration with local officials and police to attacks on china itself such as defacing the Chinese National emblem, beijing increased its threat with talks of redlines being crossed. I want to warn all criminal elements, do not misjudge the situation or take restraint as a sign of weakness. [chanting] some people want to keep hong kong as it is. Stephen at what cost . They are fighting for democracy in the name of democracy and using violence. Can you condone certain levels of resistance . Martin no. But how could you blame these young people . They are prepared to die to keep this city as it is. There are only two ways to cut that violence out quickly. Number one, you use Excessive Force, or as the british did in the 1960s, joint police and military operations. We have no military. The other way is to use legal force, and they have not been doing that. So far there are no fatalities. Stephen can the Police Control this . They have been vilified. Yes. Im glad you said so. They are working hard. They are on the learning curve and getting smarter every day. We do not want to involve pla or mainland Security Forces because we understand the sensitivity. [chanting] stephen this is the damocles hanging over hong kong, Chinese Military intervention, an estimated 6000 soldiers are stationed in hong kong at any given time with thousands more located across the border where china held recent exercises and produced a fairly threatening video on containing civil unrest. [shouting] stephen to be fair, there are rarely seen and have played a minimum role. Should that change and more troops are sent and, the ramifications for both hong kong and china would be enormous. If that happens, and god forbid, it will be the end of one country, two systems. It will also put at very serious risk hong kongs reputation as a premier Financial Services center. Stephen rather than ask if pla will intervene, we must first ask can at . It states that the pla shall not interfere. However the local government may ask china for assistance from the garrison and the maintenance of public order and disaster relief. It is not that blackandwhite. In article 18, it clarifies that a state of emergency can be declared in hong kong if turmoil endangers National Unity or security, and is beyond the control of the government of hong kong. Then beijing may issue an order applying the Relevant National laws in hong kong. In other words, china can send in additional nongarrison troops without a request. That is another Tiananmen Square massacre, and that will bring the whole world against china. Stephen what will happen to hong kong given that scenario as well as if the u. S. , as at least congress threatens, a withdrawal of special trading benefits. Hong kong will be done, and i think china will be done. If it is within the law it does not mean that the pla coming out from there means that this is the end of one country, two systems. That is how other people would like us to think about it. Soldiers across the border and the threat that that poses to hong kong . I do not think that the pla will do that, because that would give an excuse. I am talking about excuse, not the fact. That would give an excuse for a western country who does not want to see china prosper who will use it as an excuse to kill one country, two systems. If china were to send its military to hong kong, it would mean that the situation was paralyzed. The city, as a financial hub, must be unable to function. We would see foreign capital ready to flee. The militarys presence would be to restore order in order to help rebuild international confidence. [chanting] my personal opinion of the footage we saw is that the pla looks ready, my opinion is that this is a shot across the bow. This is to warn us that they are there, they are ready. I hope that the solution is that beijing will listen and try to feel the pulse of the community, particularly understanding where this generation of Young Hong Kong people are coming from. They are not against china, not against chinas sovereignty, what they are against is to see the steady erosion of one country, two systems. It is not just good for hong kong, it is good for the whole of china. And, anyone with any sense, and who wants hong kong to prosper, not only survive but prosper, we must keep one country, two systems. Stephen do you think the leaders believe that it is a workable model until 2047 and beyond . I think they all believe in this, only with hong kong being different can it contribute to the development of china. After that we then look at the system and say do we still want to keep it . My idea is yes. You are taking a look at a rising china, a china that nobody can afford to ignore and you have to ask yourself, since you have to engage, on what terms would be like this engagement to take place. Stephen that is why some lawmakers have urged carrie lam to make one more concession to heal society, and that is to form an independent and Impartial Commission of inquiry. The protesters when they become parents, what will they teach their children . It will be an increasing divide between hong kong and china, and in no way would that be conducive to one country, two systems. Stephen instead of integration it is growing apart. Yes. How is this going to end . This is not the end. The end is only if president xi says i want to control hong kong more. If we really trust him, let us be masters of our own country. Then this will blow over pretty quickly, like a typhoon. It is sad to see what is happening to hong kong, but that said, i am not without hope. Stephen hong kong is no stranger to inclement conditions, it always seems to bounce back. This time with no end in sight, most would probably agree that that signature hong kong resiliency is perhaps facing its most difficult challenge to date. I am stephen engle, thank you for watching. Here, it all starts with a simple. Hello hi how can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Carol welcome to bloomberg businessweek. We are inside bloomberg headquarters in new york. Carol this week, a special look at the year ahead. This is the issue with everything you need to know for 2020. From politics and the Global Economy to technology and trends in the luxury space. Coming up, we hear that the