HONG KONG: Ratings agency Moody’s warned on Monday prolonged discord in Hong Kong over China’s refusal to grant the key financial hub full democracy was still likely and would hurt the city’s economy.

Activists in the former British colony had their hopes for genuine democracy dashed after China announced last week that the city’s next leader would be vetted by a pro-Beijing committee.

A coalition of pro-democracy groups, led by Occupy Central, have vowed to usher in a new “era of civil disobedience” against the decision, calling on followers to blockade major thoroughfares in the city’s financial district.

The pro-democracy movement has recently lost steam, with senior leaders stepping back from their more shrill rhetoric and questioning their ability to change Beijing’s mind.

But Moody’s said it believed further demonstrations against China’s decision were likely, potentially damaging a vital regional trading hub.

Published in Dawn, September 9th, 2014