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I'm currently at Hong Kong airport, where we're witnessing unprecedented scenes with all flights on Monday cancelled for the rest of the day, because of protests unfolding behind me. Thousands of people from Hong Kong have come to the airport to voice their discontent at the government and police, who they say took extraordinarily violent measures last night against protesters in the city.
Earlier today there was absolute pandemonium at the airport, with thousands of people filling the arrival halls, the airport's express, and buses to the airport. And we even saw people walking from Hong Kong out to the airport. Because there was no other form of transportation. And yet they still wanted to join the crowds.
Last week Hong Kong had its first general strike in more than half a century, where hundreds of flights in and out of Hong Kong were delayed or cancelled. Economists I spoke to said that if it were just a one-off, and that was the first and only time that Hong Kong's airport was disrupted due to the protests, that would be one thing. But it would be another thing if we saw the airport shut down again because of the protest movement.
And that's exactly what we've seen today with Hong Kong airport shut down for the second time in one week. So over the past few weeks we've seen China ratcheting up its signals and indicating its extreme discontent with what is currently going on in Hong Kong right now.
Beijing currently faces a dilemma. Because on the one hand, it is outraged and horrified at the growing violence and discontent in Hong Kong. But on the other hand, it is hesitant to intervene, because of what it would mean for the international hub.
Hong Kong is considered a gateway into China and is seen by international businesses as having a relatively stable economy and robust rule of law. And anything that Beijing were to do to undermine that and the perception of that, could really hit Hong Kong's economy.
