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Hong Kong's last remaining pro-democracy party announces disbandment

Hong Kong's last remaining pro-democracy party announces disbandment

Qatar Tribune12 hours ago

HONG KONGcColor:> The League of Social Democrats (LSD), the last remaining active pro-democracy party in China-ruled Hong Kong, has announced its disbandment due to 'immense political pressure'.
The 'difficult' decision announced on Sunday in effect leaves the financial hub with no opposition force holding street protests after the imposition of sweeping national security laws in recent years. In a statement, the relatively small left-wing party, which was founded in 2006, said it had reached its conclusion after 'careful deliberation', particularly with regards 'to the consequences' for its members. 'Over these 19 years, we have endured hardships of internal disputes and the near-total imprisonment of our leadership, while witnessing the erosion of civil society, the fading of grassroots voices, the omnipresence of red lines, and the draconian suppression of dissent,' it added. (Agencies)

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Hong Kong's last remaining pro-democracy party announces disbandment
Hong Kong's last remaining pro-democracy party announces disbandment

Qatar Tribune

time12 hours ago

  • Qatar Tribune

Hong Kong's last remaining pro-democracy party announces disbandment

HONG KONGcColor:> The League of Social Democrats (LSD), the last remaining active pro-democracy party in China-ruled Hong Kong, has announced its disbandment due to 'immense political pressure'. The 'difficult' decision announced on Sunday in effect leaves the financial hub with no opposition force holding street protests after the imposition of sweeping national security laws in recent years. In a statement, the relatively small left-wing party, which was founded in 2006, said it had reached its conclusion after 'careful deliberation', particularly with regards 'to the consequences' for its members. 'Over these 19 years, we have endured hardships of internal disputes and the near-total imprisonment of our leadership, while witnessing the erosion of civil society, the fading of grassroots voices, the omnipresence of red lines, and the draconian suppression of dissent,' it added. (Agencies)

‘Immense pressure': Hong Kong's last major pro-democracy party disbands
‘Immense pressure': Hong Kong's last major pro-democracy party disbands

Al Jazeera

timea day ago

  • Al Jazeera

‘Immense pressure': Hong Kong's last major pro-democracy party disbands

The League of Social Democrats (LSD), the last remaining active pro-democracy party in China-ruled Hong Kong, has announced its disbandment due to 'immense political pressure'. The 'difficult' decision announced on Sunday in effect leaves the financial hub with no opposition force holding street protests after the imposition of sweeping national security laws in recent years. In a statement, the relatively small left-wing party, which was founded in 2006, said it had reached its conclusion after 'careful deliberation', particularly with regards 'to the consequences' for its members. 'Over these 19 years, we have endured hardships of internal disputes and the near-total imprisonment of our leadership, while witnessing the erosion of civil society, the fading of grassroots voices, the omnipresence of red lines, and the draconian suppression of dissent,' it added. But 'the road has narrowed beyond passage', the LSD continued, warning that the 'terrain ahead is even more treacherous'. National security laws China imposed a national security law on Hong Kong in 2020, punishing offences such as subversion with the possibility of life imprisonment following mass pro-democracy protests in 2019. Under the legislation, many leading activists were prosecuted or jailed, dozens of civil society groups dissolved and media outlets critical of the government were shuttered. A second set of laws, known as Article 23, was passed in 2024 by the city's pro-Beijing legislature. They punish a range of offences, including treason, sabotage, sedition, the theft of state secrets, external interference and espionage. Sentences range from several years to life imprisonment. The LSD was the only pro-democracy party that still staged small street protests from time to time and held street booth activities to carry on its advocacy despite the risks. While never as popular as the more moderate Democratic Party and Civic Party, it won three seats in the 2008 legislative elections – its best showing. The LSD is widely known for its more aggressive tactics when fighting for change. Its members have thrown bananas, eggs and luncheon meat at officials or pro-Beijing lawmakers as a protest gesture. Its party platform said the group advocated nonviolent resistance but would not avoid physical confrontations – a stance that set it apart from older, traditional pro-democracy groups. 'No other choice' On Sunday, party leader Chan Po-ying did not elaborate on the pressure the LSD received but said she was proud to say the party had still contributed to the city's pro-democracy movement. 'We have stayed true to our original aspirations and haven't let down the trust placed in us by those who went to prison,' she said. 'While we are now forced to disband and feel an ache in our conscience, we have no other choice.' The announcement comes just before Hong Kong, a former British colony, will mark the 28th anniversary of its return to Chinese rule on Tuesday. The city used to witness annual pro-democracy protests on the anniversary and other demonstrations demanding better policies, but those ceased after most organising groups were disbanded and activists were jailed. Critics said the drastic political changes under the security laws reflect Hong Kong's shrinking freedoms despite Beijing's promises to keep them intact after the 1997 handover. But the governments in Beijing and Hong Kong insist the measures are necessary for the city's stability, saying they balance security with safeguarding the rights and freedoms of the city's residents. In April, Hong Kong's biggest pro-democracy party, the Democratic Party, also voted to give its leadership the mandate to move towards a potential disbandment. A final vote is expected at a later date.

Nike to raise costs as Trump's tariffs on China bite
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Nike to raise costs as Trump's tariffs on China bite

Nike has said it will cut its reliance on production in China for the United States market to mitigate the impact from US tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue. The sportswear giant's shares zoomed 15 percent at the opening bell on Friday morning after it announced the change in conjunction with its earnings report released on Thursday. US President Donald Trump's sweeping tariffs on imports from key trading partners could add about $1bn to Nike's costs, company executives said on a post-earnings call after the sportswear giant topped estimates for fourth-quarter results. China, subject to the biggest tariff increases imposed by Trump, accounts for about 16 percent of the shoes Nike imports into the US, Chief Financial Officer Matthew Friend said. However, the company aims to cut the figure to a 'high single-digit percentage range' by the end of May 2026 as it reallocates Chinese production to other countries. 'We will optimise our sourcing mix and allocate production differently across countries to mitigate the new cost headwind into the United States,' he said on a call with investors. Consumer goods are one of the most affected areas by the tariff dispute between the world's two largest economies, but Nike's executives said they were focused on cutting the financial pain. Nike will 'evaluate' corporate cost reductions to deal with the tariff impact, Friend said. The company has already announced price increases for some products in the US. 'The tariff impact is significant. However, I expect others in the sportswear industry will also raise prices, so Nike may not lose much share in the US,' David Swartz, analyst at Morningstar Research, told the Reuters news agency. CEO Elliott Hill's strategy to focus product innovation and marketing around sports is beginning to show some fruit, with the running category returning to growth in the fourth quarter after several quarters of weakness. Having lost share in the fast-growing running market, Nike has invested heavily in running shoes such as Pegasus and Vomero, while scaling back production of sneakers such as the Air Force 1. 'Running has performed especially strongly for Nike,' said Citi analyst Monique Pollard, adding that new running shoes and sportswear products are expected to offset the declines in Nike's classic sneaker franchises at wholesale partner stores. Marketing spending was up 15 percent year on year in the quarter. On Thursday, Nike hosted an event in which its sponsored athlete Faith Kipyegon attempted to run a mile in under four minutes. Paced by other star athletes in the glitzy event that was livestreamed from a Paris stadium, Kipyegon fell short of the goal but set a new unofficial record. Nike forecast first-quarter revenue to fall in the mid-single digits, slightly better than analysts' expectations of a 7.3 percent drop, according to data compiled by LSEG. Its fourth-quarter sales fell 12 percent to $11.10bn, but still beat estimates of a 14.9 percent drop to $10.72bn. China continued to be a pain point, with executives saying a turnaround in the country will take time as Nike contends with tougher economic conditions and competition. Looming trade deal as prices rise Nike's woes come as a trade deal with China could be on the horizon. US Treasury Secretary Scott Bessett said on Friday that the administration could have a deal with Beijing by Labor Day, which is on September 1. Under the deal, the US will likely impose 55 percent tariffs across the board on Chinese goods, down from 145 percent, still a significant burden on businesses. According to a survey from Allianz Global Trade last month, 38 percent of businesses say they will need to raise prices for consumers, with Nike being the latest. In April, competitor Adidas said it would need to eventually raise prices for US consumers. 'Cost increases due to higher tariffs will eventually cause price increases,' CEO Bjorn Gulden said at the time. Walmart said last month that its customers will see higher price tags in its stores as the nation's biggest big box retailer prepares for back to school shopping season. Target, which had a bad first quarter driven by boycotts and the looming threat of tariffs, also has been hit as the big box retailer gets 30 percent of its goods from China.

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