This analysis ignores the fact that the Hong Kong government is incompetent (the restrictions that worked were imposed on the government by social pressure) and the economy was already in a worsening recession because of months of police crackdowns against peaceful protest https://twitter.com/balajis/status/1256437972179668993 …
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This is almost certainly the case in China, too, but except for a few examples of great individual heroism, we have much less visibility into what happened there.
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If you want to cite an example of a competent government handling this situation in an economy-preserving way, look to Taiwan. Hong Kong is something different.
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End of conversation
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"Bottom-up leadership in the face of incompetent misrule" reminds me of somewhere else...
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