One man was shot in the chest by police in Hong Kong on Tuesday during widespread and violent protests that coincided with celebrations across China marking 70 years of the Communist state. The incident marked the first time live fire was used by Hong Kong police in their attempts to quell unrest, which is now in its fifth month.
Speaking at a celebration and military parade in Beijing, Chinese President Xi Jinping said that China remains committed to "the strategy of peaceful reunification" and to "one country, two systems," the governing framework established after the Hong Kong handover in 1997.
"No force can ever undermine China's status, or stop the Chinese people and nation from marching forward," Xi said at the National Day ceremony in Tiananmen Square, adding that China will "maintain lasting prosperity and stability" in Hong Kong.
<i>A portrait of President Xi Jinping during a parade to commemorate the 70th anniversary of the founding of Communist China in Beijing. Photo Credit: Mark Schiefelbein/AP/Shutterstock</i>
Unrest in Hong Kong first broke out in June in opposition to legislation that would have permitted extraditions to mainland China. Residents, moreover, largely took to the streets to voice their objection to China's growing influence over the city's government and Hong Kong at large, which has enjoyed relative autonomy as a special administrative region. The unrest significantly escalated in August after anti-government protesters occupied the city's international airport and held large-scale demonstrations throughout Hong Kong, which has long been a major financial hub for global banking and commerce.
The extradition bill was suspended — and later fully withdrawn — but dramatic protests continued with Hong Kongers calling for democratic voting rights and independent investigations into widespread reports of police abuse.
In Hong Kong on Tuesday, thousands of demonstrators marched peacefully through the city's major thoroughfares to air their grievances and mar National Day celebrations in mainland China. Several violent clashes, however, erupted between protestors and police, which resulted in the shooting of the young activist, who was 18-years-old.
"HK police is celebrating the [People's Republic of China] national day by shooting a young activist," Nathan Law, a leading activist, said on Twitter. "Big prize to communist party? Disgusting. Shame on the police."
Hong Kong police confirmed that the victim was taken to the hospital and, according to local media, remains in critical condition. Throughout the day Tuesday, police condemned "rioters" for starting fires, damaging property, and instigating violence. Authorities also urged all residents to stay indoors and find safe spaces.
Joshua Wong, one of the most prominent pro-democracy activists and politicians, said on Twitter that "on China's National Day ... HK fallen into a de facto police state" and that "paramilitary security forces completely took over this city."
<i>Police clash with anti-government protesters in central Hong Kong. Photo Credit: Vincent Yu/AP/Shutterstock</i>
The unrest in the streets of Hong Kong were in stark contrast to the military procession in Beijing. Xinhua, China's state-run news agency, reported that the parade consisted of 15,000 personnel, 580 pieces of armament, over 160 aircrafts, and new, advanced intercontinental nuclear missiles. Fireworks later lit up the sky as entertainers performed for thousands of festival goers.
"At this very moment, Chinese people of all ethnic groups and all the sons and daughters of the Chinese nation at home and abroad take pride in and joyfully give our best wishes to our great motherland," Xi added in his remarks.
Carrie Lam, Hong Kong's embattled chief executive, was in Beijing to attend the National Day celebration.
By end of day Tuesday, over 180 people were arrested and 25 police officers were injured, the South China Morning Post reported citing police chief Stephen Lo. It has been “one of Hong Kong’s most violent and chaotic days," Lo said.
While people have been spending more time on their phones throughout the pandemic, a new report shows they were also spending more money as well. A review from Sensor Tower on the global app ecosystem this year found that the app economy will see record consumer spending in 2021, up nearly 20% from 2020. Sensor Tower director of sales and financial institutions Anthony Bartolacci joins Cheddar News' Closing Bell to break down the report.
The future of gambling in Florida recently suffered a major setback after a federal appeals court rejected a request from the state and the Seminole Tribe to allow online sports betting in the state. Now, the tribe has been forced to stop taking bets on its Hard Rock sportsbook app. ESPN gaming writer David Purdum joins Cheddar News' Closing Bell to discuss what this could mean for the future of sports betting in Florida.
Web3 software startup Thirdweb has raised $5 million in a funding round, coming from a group of high-profile investors, including Gary Vaynerchuk and Mark Cuban. Thirdweb says it is paving the way for the revolution surrounding the new iteration of the internet known as web3, by offering users free tools to build their own web3 projects. Thirdweb's co-founders Steven Bartlett and Furqan Rydhan join Cheddar News' Closing Bell to discuss.
Decentralized talent network Braintrust recently closed an atypical equity deal that involved investors buying $100 million in Braintrust tokens, the company's cryptocurrency. Braintrust's talent network is built on blockchain technology, which the company says allows it to be owned and built by users, instead of a centrally-controlled corporation. Braintrust users can also earn tokens for their contributions to the network and its growth. Braintrust co-founder Adam Jackson joins Cheddar News' Closing Bell to discuss.
Time magazine has unveiled SpaceX and Tesla CEO Elon Musk as Person of the Year for 2021. Jeffrey Kluger, editor at large for Time, told Cheddar that Musk's impact on so many facets of forward-looking industries like crypto, solar power, electric vehicles, and especially his work on space travel were the reasons behind the selection. "On balance, Musk is performing on so many levels and in so many venues that it was hard not to consider him our Person of the Year," he said. Kluger also noted that the choice is based upon the influence the subject has had, whether good or bad and is not a judgment on its own.
The recent verdicts of the Kyle Rittenhouse and Ahmaud Arbery murder trials have put a spotlight on the country's justice system. Experts have pointed to the explicit racial undertones in the high-profile trials, as well as the increased levels of stress that may be felt by communities of color because of the prevalence of these trials. Kailee Scales, CEO of Pencils of Promise and former first managing director of Black Lives Matter Global Network Foundation, joins Cheddar News to discuss.
Gold Medal ski racer Bode Miller and John Emery, CEO of Alpine-X, discuss the need to make snowsports more affordable and how the new facility in Virginia aims to diversify the sport to urban areas.
Carlos Munoz, Head of Asset Manager Diversity, Equity & Inclusion Engagement at Morgan Stanley Wealth Management, discusses how 'The Equity Collective' is helping to diversify the financial services industry and what the initiative means for racial equity.
