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Hong Kong’s economy is recovering, but its freedoms are not

Published

1 year ago

April 28, 2023

HONG KONG (AP) — Like most people in Hong Kong, taxi driver Leung Tat-chong says it feels like the city is recovering after years of protests, crackdowns and pandemic restrictions, while it also has changed forever.

He’s earning almost as much as he did before the pandemic. But, Leung said, the city has been divided since the 2019 protests, in which hundreds of thousands of people marched, and many battled police, in opposition to a government they saw as a proxy for Beijing.

For the first time since the start of the pandemic, the city welcomed more than 2 million visitors in the month of March. Crowds of art collectors and dealers spilled across two floors of a convention center at the Art Basel Hong Kong fair in late March. Excited chatter returned to a dim sum shop at the high-speed rail terminus.

Yet Leung sometimes doesn’t turn on the radio in his cab because the news or a public affairs program could get his customers cursing. A supporter of the government, he watches what he says in front of friends to avoid starting fights.

Living in Hong Kong today means juggling contradictory feelings. In 20 interviews, many said that when they focus on business indicators and everyday life, they see a recovery gathering pace after years of travel restrictions. But when it comes to anything political, the openness and freedoms that were once hallmarks of the Chinese-ruled former British colony seem permanently gone.

Following the 2019 protests, Beijing declared “patriots must run Hong Kong,” increasing its loyalists’ control over elections and imposing a National Security Law that criminalized many forms of dissent. The government of Hong Kong used that law to arrest former opposition lawmakers and activists who participated in an unofficial primary election.

Hong Kong’s government says things are back to normal, a message delivered in a tourism-promotion campaign it calls “Hello Hong Kong.”

Economic indicators seem to support that message: retails sales are up, the country’s GDP is growing and unemployment is a low 3.1%. In the first quarter of the year, the city received 4.41 million visitors, about 12 times more than the previous quarter, and about 30% of pre-pandemic levels.

Mak Kwai-pui, co-founder of dim sum chain Tim Ho Wan, said his business is reaping some of the benefits. Foreign tourists are filling his restaurants, something he had not seen in three years, helping drive revenue to more than 80% of pre-pandemic levels.

“It’s really coming back. It’s true,” he said.

Anne Kerr, the chair of the British Chamber of Commerce in Hong Kong, said more U.K. firms are inquiring about setting up shop in Hong Kong.

A survey by The American Chamber of Commerce in Hong Kong in the first two months of 2023 showed its members are “cautiously optimistic” about business. Among those with headquarters in Hong Kong, 61% planned to remain for the next three years, up from 48% last year. But 9% plan to move, compared to 5% last year.

Local artist Wong Ka-ying said cultural life is recovering, too. At Art Basel, she saw a rise in emerging artists, independent art spaces and cultural activities, offering her more exposure and opportunities.

But, she said, even at the glamorous art fair, she felt the chill of the National Security Law. The art felt tamer than in past years and overtly political art was rare. At the Chinese University of Hong Kong where she teaches, she advises her students to plan their work cautiously.

“Maybe it looks the same on the surface. But when you look with a magnifying glass, you’ll see the essence isn’t the same,” the 32-year-old said.

When Cyrus Chan decided to organize a protest against a proposal on land reclamation and building waste-processing facilities in March, the changes were not subtle.

Hong Kong used to have a vibrant tradition of street politics, from massive marches to local issues. But Cyrus Chan, one of the march organizers, said police told organizers that they could have just 100 people. Participants were warned against wearing all black, as many protesters did during the 2019 protests. They also discussed their slogans with police in advance.

Even with official approval, it was a nerve-wracking experience, Chan said. For a week before the march, he checked news reports, online forums and social media hourly to see if anything had changed.

On the day, attendees were required to wear numbered badges around their necks and had to walk within a moving cordoned-off zone.

After the protest, Chan said he still could not let his guard down. On April 2, security minister Chris Tang said “some people” who likened the numbered tags to dog leashes or the armbands Nazis forced upon Jews were stirring hatred against the government — a red flag to many activists under the sedition law. Chan had previously made the Nazi analogy on a radio show.

“Those who say the city will go back to the old days … are lying. Everyone knows it’s impossible,” Chan said.

Weeks later, a former leader of a now-disbanded pro-democracy union withdrew his plan to hold a Labor Day march, his co-applicant said Wednesday. The National Security Law prevented disclosure of further details, he told the applicant.

Leung, the taxi driver, agreed that there’s a part of Hong Kong will never come back. But life must go on.

“As an ordinary person, I can’t do anything about politics,” he said. “I will just keep living my simple and unadorned life.”

News

A timeline of events in the bread price-fixing scandal

Published

1 hour ago

September 19, 2024

Anne Joseph

Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

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S&P/TSX composite up more than 250 points, U.S. stock markets also higher

Published

1 hour ago

September 19, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.

The S&P/TSX composite index was up 254.62 points at 23,847.22.

In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.

The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.

The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.

The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Quebec premier calls on Bloc Québécois to help topple Trudeau government next week

Published

1 hour ago

September 19, 2024

Anne Joseph

MONTREAL – Quebec Premier François Legault says the Bloc Québécois must vote to topple the federal Liberal government next week and trigger an election.

Legault called on Parti Québécois Leader Paul St-Pierre Plamondon to summon the “courage” to ask the Bloc to support the expected Conservative non-confidence motion against Prime Minister Justin Trudeau’s minority government on Tuesday.

The Bloc and PQ, which both campaign for Quebec independence, are ideologically aligned and have historically worked together.

But moments later Bloc Leader Yves-François Blanchet said on X that he would not vote to topple Trudeau, saying he serves Quebecers “according to my own judgment.”

Legault made the comments after expressing frustration with what he described as Ottawa’s inaction on curbing the number of temporary immigrants in Quebec, especially asylum seekers.

Conservative Leader Pierre Poilievre has said he will put forward a motion of non-confidence in the government on Sept. 24, and specifically challenged NDP Leader Jagmeet Singh to back it.

The Conservatives don’t have enough votes to pass the motion with just one of the Bloc or the NDP.

This report by The Canadian Press was first published Sept. 19, 2024.

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