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Hong Kong Metro System Shut and ATMs at Banks Have No Cash

How does China Fix Exchange Rates?

The Hong Kong systems that are known to be so efficient, both rail and banking, are now out of service while the local government has banned the use of masks in public spaces. The MTR Corp said all services would be suspended Saturday due to “malicious vandalism” and even attacks on the rail workers who are in charge of running the system. While there are still banking services working, the ATMs in some areas have been shut down due to lack of cash on hand and as a result Bitcoin usage has rocketed.

The city is now bracing for more demonstrations after a night of chaos when police shot a teenage boy and pro-democracy protesters touched businesses and metro stations. And while many are looking for a military response to the 4-month old rage from the people, embattled leader Carrie Lam invoked colonial-era emergency powers last used more than 50 years ago to clamp down on the endless fight by opposition leaders. It is clear that Beijing is now demanding that something must be done and that the law allows authorities to “make any regulations whatsoever” in the best interest of the public.

The current situation has deteriorated to the point where a young boy of 14 years old was shot and is in serious condition in hospital – an event that has caught the attention of global political and business leaders who are wondering just what to do with China relations and investments that are impacted by the events on the former British colony.



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