When a city of 7 million people is experiencing demonstrations by 3 million and 4 million residents, one would normally expect the government to pay attention. That assumes that the government is a democratic government, not a communist government, such as China relative to Hong Kong.
It is precisely the loss of the democratic rule of law promised by the Chinese to the British would be preserved for 50 years (more than 30 years remain before that 50 years would be over) that has spurred the residents of Hong Kong to demonstrate. At the time that this blog is being written, the Chinese have begun to arrest leaders of the protest, and amassed troops under the guise of rotating their garrison. It remains to be seen what the exact outcome will be, but the expectation is high that the rebellion will be put down brutally.
The importance of this to the land market in the United States and the American economy is that if you are a wealthy person living in Hong Kong you are looking for a place to move your money and the United States is the best place to go. This is probably a source of some of the “hot” money that is already flowing into American Treasuries driving our interest rates lower. Expect that trend to continue.