Homepage / Asia / Taiwan watches as China closes in on Hong Kong
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election


Taiwan watches as China closes in on Hong Kong

An increasingly assertive China is making its presence felt in Hong Kong, which is a development Taiwan is watching closely as the self-governed island marks 30 years after the lifting of martial law.

“The Hong Kong experience provided a glimpse of what might happen to Taiwan should the ‘One Country, Two Systems’ formula apply (to Taiwan). So far, it is not very optimistic,” said Chen-shen Yen, an international relations researcher at Taiwan’s National Chengchi University.

The “One Country, Two Systems” model is supposed to guarantee wide-ranging autonomy and judicial independence for Hong Kong and Macau, both former Western colonies.

Hong Kong recently commemorated 20 years under that system since the U.K. handed it over to China, but the celebration came amid fears about declining autonomy.

That is, activists in Hong Kong say Beijing has reneged on its promise.

In a highly-publicized case, booksellers hawking politically-sensitive texts in Hong Kong disappeared — only to resurface in detention on the mainland.

China has repeatedly pitched the “One Country, Two Systems” model to Taiwan, but with no success. Taiwan views itself as a sovereign state, unlike Hong Kong, which was a British colony, said Yen.

A recent survey by research organization Taiwan Thinktank found half of young Taiwanese polled deemed “One Country, Two Systems” to have failed in Hong Kong. Just 22 percent viewed it as a success. Meanwhile, more than 73 percent of respondents said they were not willing to accept reunification under the model.

Taiwan’s Mainland Affairs Council gave its take on China’s influence in Hong Kong just before the territory’s handover anniversary. The council’s deputy head, Chiu Chui-cheng said Beijing should respond to the Hong Kong people’s pursuit of democratic institutions and values, and keep its promise to Hong Kong.

“The principal structure of governance based on ‘One Country, Two Systems’ has not been altered in Hong Kong. However, many of the population believe interference from the mainland authorities on the island’s political and legal affairs has grown in recent years, raising questions about the implementation of the principle,” said Guo Yu, principal China analyst at global risk consultancy Verisk Maplecroft.

Since the Taiwanese government lifted martial law in 1987, the Taiwanese people have enjoyed a level of freedom such that they now find it “very difficult to see such liberty being curtailed,” Yen added. Taiwanese have also developed a distinct local identity in recent decades.

The heavy-handed rule was imposed by the Nationalist Party after it was forced to retreat to Taiwan in a civil war with the Chinese Communist Party. The two territories have been separately governed since 1949.

Mainland China now regards Taiwan as a renegade province that can be taken back by force if necessary and has worked to diplomatically isolate Taiwan.

Recently, China detained Taiwanese human rights activist Lee Ming-cheh on grounds of national security.

The deep political divide between China and Taiwan is unlikely to be bridged in the next few years as long as Tsai Ing-wen from the independence-leaning Democratic Progressive Party remains the president, added Yu.

The political gulf between China and Taiwan was on display when, at an event to kick off her party’s celebration of the anniversary last Thursday, Tsai paid tribute to democratic rule.

“Freedom is not a given, and democracy is not a gift from rulers. Everything we have today was won by the struggles of Taiwanese,” Tsai said, according to the Taipei Times.

At night on the same day, she posted a tribute on Facebook to Chinese human rights activist and Nobel Peace Prize laureate Liu Xiaobo, who died of cancer while in detention on the mainland.

Calling Liu a “human rights warrior,” Tsai urged China to grant democratic rights and freedoms to its citizens in the same post. “We hope mainland Chinese authorities will display the self-confidence to grant mainland Chinese their natural right to democracy and freedom, and at the same time open up new prospects for cross-strait relations,” Tsai wrote in Chinese.

The mainland has tightened its screws on Taiwan since Tsai won the presidential election last year. Taiwan is economically dependent on China, its top trading partner.

But moves such as restricting tour groups to Taiwan are “counter-productive” and won’t help China’s cause, said Chengchi University’s Yen.

Yen said he does not foresee immediate military threats as long as Tsai’s administration does not officially declare independence. Things may change, however, after Chinese President Xi Jinping consolidates his power as expected during the 19th Communist Party Congress in the fall, Yen added.

Source: cnbc china
Taiwan watches as China closes in on Hong Kong

Comments are closed.