Does the extradition law really spell the death of Hong Kong? Some businesses say yes

Updated 3:08 AM EDT, Tue June 11, 2019
HONG KONG, HONG KONG - JUNE 10:  Police officers charge toward protesters after a rally against the extradition law proposal at the Central Government Complex on June 10, 2019 in Hong Kong. Organizers say more than a million marched on Sunday against a bill that would allow suspected criminals to be sent to mainland China for trial as tensions have escalated in recent weeks.  (Photo by Anthony Kwan/Getty Images)
Anthony Kwan/Getty Images AsiaPac/Getty Images
HONG KONG, HONG KONG - JUNE 10: Police officers charge toward protesters after a rally against the extradition law proposal at the Central Government Complex on June 10, 2019 in Hong Kong. Organizers say more than a million marched on Sunday against a bill that would allow suspected criminals to be sent to mainland China for trial as tensions have escalated in recent weeks. (Photo by Anthony Kwan/Getty Images)
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Hong Kong CNN —  

Hong Kong is a city built for business.

Seized by the British after the first Opium War ended in 1842 and used as a base for trade in drugs and other products, in the late 20th century Hong Kong became a leading global financial center and gateway to the giant Chinese economy

The handover of the city to China in 1997, however, prompted fears that model would collapse.

Two years before that looming date, Fortune magazine ran a notorious cover warning of the “death of Hong Kong,” lamenting that the “the world’s most aggressively pro-business economy” was being handed to Communist China.