Hot Air has the summary:
Before 1997, the city of Hong Kong had been a British colony for 156 years. The reintroduction of that bustling capitalist city into communist China was always thought to be a risky proposition. It was China’s Deng Xiaoping who crafted a policy known as “One Country, Two Systems” in the 1980s, which was aimed at assuaging concerns in Hong Kong that their way of life would persist even after the Union Jack was lowered and the flag of the People’s Republic was raised in its place.
Well, the reintegration process has finally begun and Beijing has determined that the semi-autonomous province will no longer have its own politics as well as its own economic system. The Chinese government rejected calls from democracy activists aimed at allowing Hong Kong residents to directly elect their own leadership. Beijing would be vetting any prospective candidate to first determine their suitability for office.
Translation: the PRC will pick Hong Kong’s rulers for it. It always stuck in my craw that we just handed a economic powerhouse over to the Commies; it annoyed me worse that we didn’t hand out green cards and travel visas to anybody who wanted one, either. Because God forbid that we take the position that it’s better to be free than to live under Communism – even the mutant version that the Chinese have developed for themselves.
Ah, for a time machine.