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Significance

President Xi Jinping, meanwhile, has been courting Taiwan's China-friendly opposition party through a high-profile meeting in Beijing, as the island's China-sceptic government rapidly loses popularity.

Impacts

Resentment in Hong Kong will fuel more street activism and judicial opposition, making businesses wary but not disrupting operations.

Beijing shows little interest in intervening on legal matters that affect business in Hong Kong.

Taipei will reach out to other governments, hoping to compensate for the economic damage caused by the cross-Strait chill.

Governments and international forums will face Chinese pressure not to engage with Taiwan until its government makes symbolic concessions.

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