Following controversial reports that Hong Kong leader Carrie Lam would have left office if Beijing would have allowed it, the city-state's chief executive surprised her detractors on Wednesday by announcing that she would formally withdraw the hated extradition bill.
Lam said the bill would be formally withdrawn as soon as Wednesday night.
Killing the extradition bill is only one of the five demands articulated by protesters, so it's unlikely that meeting this one demand would end the protests entirely.
Another source added that the complete withdrawal of the extradition bill is the easiest way to turn down ongoing tensions.
Lam started to change her mind on the extradition bill two weeks ago after a meeting with city leaders: "The chief executive started to change her mind after meeting with 19 city leaders two weeks ago. She heeded their views on how to de-escalate the tensions."
Earlier in the summer, Lam declared the withdrawal bill "Dead", but refused to formally remove it from the agenda.
Markets have thrown caution to the wind, and Hong Kong stocks rallied sharply on the news, posting one of their best, if not the best, one day performance since the protests began.
https://www.zerohedge.com/news/2019-09-04/lam-unexpectedly-withdraws-hated-extradition-bill-hong-kong-stocks-soar
Lam said the bill would be formally withdrawn as soon as Wednesday night.
Killing the extradition bill is only one of the five demands articulated by protesters, so it's unlikely that meeting this one demand would end the protests entirely.
Another source added that the complete withdrawal of the extradition bill is the easiest way to turn down ongoing tensions.
Lam started to change her mind on the extradition bill two weeks ago after a meeting with city leaders: "The chief executive started to change her mind after meeting with 19 city leaders two weeks ago. She heeded their views on how to de-escalate the tensions."
Earlier in the summer, Lam declared the withdrawal bill "Dead", but refused to formally remove it from the agenda.
Markets have thrown caution to the wind, and Hong Kong stocks rallied sharply on the news, posting one of their best, if not the best, one day performance since the protests began.
https://www.zerohedge.com/news/2019-09-04/lam-unexpectedly-withdraws-hated-extradition-bill-hong-kong-stocks-soar
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