October 1, 2014 – The pro-democracy demonstration in Hong Kong continues to grow, with tens of thousands joining the continuous rally now going on for more than three days.
Riot police and tear gas did nothing to thwart the crowds from forming. The government has rightly withdrawn the police and the demonstrations so far have continued peacefully. The police use of tear gas did nothing to dispel the crowds and probably caused more protestors to join in.
Not to my surprise, the demonstrators are made up of principally young people and students. Their demands are not complex–fair elections, so they can decide their own future.
Though the demonstrators are limited to Hong Kong, the sentiment that is being expressed is shared by many Chinese on the mainland. That, of course, is what the authoritarian national government fears the most.
Problems in China will surely get worse as world economies, as well as China’s, worsen. The world has been impressed with China’s growth for more than a decade, but it too has been based on monetary inflation and is vulnerable to the inevitable corrections that all inflationary economies must suffer.
A deteriorating economy and a tremendous thirst for greater liberty by the younger generation has set the stage for a rocky time, not only for China but for the rest of the world as well. Hopefully the result will be an enlightened Chinese government that will grant greater civil liberties to its people and a monetary system based on gold that would usher in a 21st century revolution that rejects the tyranny of a fiat monetary system from which the world currently suffers.
What do you think about the pro-democracy demonstration in Hong Kong? Share your thoughts in the comments below!