Let's look at what the protestors can accomplish.
2.) Put pressure on the top business leaders, CK Leung, the ministers, and the pro-Beijing crowd in Hong Kong, who might then put pressure on Beijing. Beijing might ignore the protestors but they might not ignore the pro-Beijing business elite. The business elite do not want instability in Hong Kong, and they don't want a 1989-style suppression of the protestors either because they would hurt Hong Kong's image and business environment far worse than the current protests. These business elites could convince Beijing that giving Hong Kong full democracy would satisfy the protestors and ensure stability in the city.
The cynics would say that Beijing will never grant Hong Kong full democracy for fear than an anti-CCP Chief Executive will win the election. But so what if that happened? Nobody in HK wants independence, and even if they did there is no way they could achieve it. What else does China want from HK other than for HK to be officially part of China? HK already hosts Chinese democracy organizations, Tienanmen Square Massacre memorials, the Falun Gong, pro-democracy newspapers, and open internet. What's wrong with letting Hong Kong citizens choose the person who will run their government, manage their taxes, appoint the heads of government agencies, and help make internal laws?
I am afraid you got it backward geographer. HK business elites are not going to pressure Beijing. Many of them have significant holdings and investments in mainland. A portion of their business success in Hong Kong is also dependent on the goodwill of Beijing's government especially when it comes to large projects. This protest has already generated latent political instability for Hong Kong regardless the outcome. It's very possible that mainland cities other than Hong Kong will be the recipient of more Chinese economic liberalization experiments. Something HK elites would loath to see.
It's really ironic that HK elites would probably be able to influence Beijing more if China is a westernized democracy with campaign financing.
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