This attention-grabbing, eye-catching, perhaps mouth-watering and heart-warming phrase appears at the conclusion of this (otherwise mainly-for-wonks) analysis by Victor Shih of how China’s Forthcoming Financial Armageddon Doomsday Disaster could come, if it ever does.
It seems a highly unlikely scenario – China defaulting and devaluing in order to preserve its foreign exchange reserves. It would surely eradicate the Communist Party’s credibility overnight. But presumably that would happen anyway once the reserves had been used up, so you might as well pull the plug sooner rather than later.
A less technical but no less (or no more) persuasive link is this, on Hong Kong independence/autonomy. The beginning on Kosovo/Quebec/etc and the middle on UN definitions of ‘a people’ and ‘self-determination’ are debatable or academic. The compelling idea is at the end. Essentially, Beijing’s hostility and sheer obnoxiousness turn Hong Kong independence/autonomy from pie-in-the-sky silliness to the only rational way forward. ‘Rational’ does not mean ‘possible’ or ‘likely’, but it does imply ‘talked about’ and ‘demanded seriously by more and more people’.