Wyn Thomas - Axys Investment Management

Weekly Market Commentary 14th June 2019

ONE COUNTRY, TWO SYSTEMS

This week, while Tory party hopefuls all clamour for the chance to sit in the captain’s chair on the Titanic, another democracy is also on the brink of collapse. Protests in Hong Kong over changes to the Island’s governance structure saw thousands hit the streets, despite a violent clampdown from Chinese authorities. The “one country, two systems” arrangement, that has allowed a form of democracy to exist in Hong Kong since the British handed control back to the Chinese in 1997, looks to have come to an end. While China has been undermining this system for years, new rules allowing Honkongers to be arrested and extradited by mainland Chinese police has finally killed off its quasi-independence. Read more…