Doing business in Hong Kong increasingly comes with a new risk: the political cost of upsetting Beijing.
Chinese clients recently dropped one big Chicago law firm after it recused itself from a politically sensitive case. A former Wall Street banker was muzzled for writing a "Hong Kong is dead” column. And Google was effectively cornered into enforcing a ban on a popular protest anthem.
In all areas of life, Hong Kong is hewing closer to mainland China, blurring distinctions that once cemented the city’s status as mostly free from the politics of Beijing. Legal rulings echo the courts in mainland China. City regulations follow edicts in Beijing. Even government banners recall Chinese Communist Party slogans.