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Another round of resistance was recorded over the weekend between protesters in Hong Kong and the Chinese government. Yet this view overlooks an important aspect of the power relationship between Hong Kong and China: private money. Canada house Surrey Canada
My research on offshore finance and state power Gay cruising areas Halifax explain why. However, Hong Kong still plays an essential role in protecting the wealth of private individuals.
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They may plausibly fear that Beijing will confiscate any of their wealth held on the mainland if they lose political favor. After all, the state controls the Chinese legal.
Ordinary people think about money as cash in their pockets, or bank deposits. Consequently, it is difficult Phuket island massage Nanaimo know precisely how much private money is hoarded in Hong Kong.
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That makes it difficult for outsiders to trace the wealth back to its true owner. These traits make trusts incredibly useful tools to fend off the nosy, the taxman or claims from creditors, and thereby to build up capital more quickly, as sociologist Brooke Harrington argues in her latest book.
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Snuggle house Vernon Fonseca, the law firm at the core of the scandal, set up more than 16shell companies for these individuals in Hong Kong. What makes Hong Kong uniquely useful for the Chinese elites is that it combines political control with separate legal and monetary systems.
Hong Kong, in contrast, Big escorts Charlottetown an independent judiciary based on British common-law tradition. This shift may allow Beijing to respond harshly to the Hong Kong protests.
Reprinted with permission. Andrea Binder. Published By.
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