Hong Kong's tycoons prospered these last 19 years in China's financial green zone — the ultimate special enterprise district offering the transparency, first world banking system and rule of law the mainland sorely lacks.
Its 7.3 million people, not so much. Surging property prices — largely due to mainlanders hoarding flats — have increased inequality since the city returned to Chinese rule in 1997. Equally problematic, Beijing is reneging on pledges to allow Hong Kongers to pick their own leaders. On Sunday, a peaceful protest turned violent as police did Beijing's bidding to silence voices of dissent.
The immediate flashpoint is China stopping pro-independence lawmakers from entering the legislature. Yesterday, Xi Jinping's Communist Party "interpreted" the Basic Law separating Hong Kong and Beijing, declaring Yau Wai-ching and Sixtus Leung can't be sworn in (expect much bigger demonstrations in the days ahead). The longer term crisis is China losing the plot on a place it should be learning from, not remaking in its own twisted image.