Economist Podcasts Fight or flight: Cathay Pacific
Aug 23, 2019
Stephanie Studer, China business correspondent, discusses the tension at Cathay Pacific amid pressures from Beijing and its effects on Hong Kong's pro-democracy atmosphere. Tom Gardner, economist correspondent focused on Ethiopia, provides insight into the explosive rise of Pentecostalism, revealing its influence on political dynamics and cultural shifts. The conversation also touches on the challenges faced by puffins in the Faroe Islands, exploring the balance between hunting traditions and conservation efforts.
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Cathay Pacific's Response to Protests
- Cathay Pacific initially supported employee free speech regarding Hong Kong protests.
- However, after Chinese regulators banned protesting crew members from mainland flights, Cathay fired staff and the CEO resigned.
China's Comprehensive Response
- China's response to Cathay Pacific's initial support of protests was swift and comprehensive.
- This included media denouncements, boycotts by state-owned enterprises, and stock sell recommendations.
Impact on Other Businesses
- Other multinational companies in Hong Kong are now cautious, with some enacting internal policies discouraging protest discussion.
- This incident demonstrates a new level of Chinese government intrusion into business operations.