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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared Abu Dhabi gives Dubai $10 billion in surprise bailout 2:02am EST Exclusive: IRS hires "hundreds" for new wealth unit 11 Dec 2009 Asian stocks rebound on Dubai bailout, yen falls 12:53am EST UPDATE 1-Abu Dhabi gives Dubai $10 bln in surprise bailout 12:23am EST Citi near deal to pay back bailout money: reports 13 Dec 2009 Abu Dhabi gives Dubai $10 billion in surprise bailout 2:02am EST Exclusive: IRS hires "hundreds" for new wealth unit 11 Dec 2009 TEXT-Dubai govt statement on restructuring, aid 13 Dec 2009 Dubai government statement on restructuring, aid 12:29am EST In Bhutan, a stock trade a day keeps stress away 09 Dec 2009 Democracy "referendum" plan heats up Hong Kong politics James Pomfret HONG KONG Mon Dec 14, 2009 1:29am EST Related News PRESS DIGEST - Hong Kong - Dec 14 Sun, Dec 13 2009 Hong Kong unveils long-awaited democracy blueprint Wed, Nov 18 2009 HONG KONG (Reuters) - Opposition lawmakers in Hong Kong are poised to resign en masse from the city legislature in a bid to trigger what amounts to a referendum on democracy and rekindle a battle with China on expanding democratic rights. World | China The resignations, if carried out, could be the most risky maneuver undertaken by Hong Kong's liberal advocates of democratic rights in their tussle with Beijing since the former British colony returned to Chinese rule in 1997. Hong Kong enjoys a unique position as the most politically liberal city in China with a mini-constitution promising universal suffrage as an "ultimate aim". In reality, Beijing has been loathe to relax its grip over electoral freedoms and only agreed in 2007 to allow a direct vote for Hong Kong's leader and legislature, starting in 2017. The city's leader is now chosen by a small pro-Beijing committee and only half its legislature is directly elected. Debate over the resignation plan has caused discord within the "pan-democratic camp", a grouping of parties and independents under the opposition umbrella that control 23 of 60 seats on the city's legislative council. "We are worried about splitting (the pan-democratic camp)," said Lee Cheuk-yan, a lawmaker and democracy advocate. The Democratic Party, arguably Hong Kong's most influential democratic force, voted against the resignation plan at the weekend, given the risks of losing seats in the legislature. HELPLESSNESS Backers of the plan range from radical activists to prominent figures like former top civil servant Anson Chan and veteran campaigner Martin Lee. They point to frustration at the slow pace of reforms and fears China may tailor a power-preserving version of democracy in 2017. "There's a feeling of helplessness among the people," said lawmaker Alan Leong, whose Civic Party backs the plan. "This plan will make people feel the power they possess again, in not accepting the fate that Beijing is giving us." Under the plan, five lawmakers from each of Hong Kong's five main districts would step down, with the resulting by-elections serving as a de facto referendum on democracy. But without the Democratic Party's support, the pan-democrats risk playing into Beijing's hands and losing a one third veto bloc in the legislature. "If they lose two seats there's a possibility this will be quite devastating," said Willy Lam, a commentator at the Chinese University in Hong Kong. "It will show that more people are reconciled to the situation, to the inevitable, that Beijing is calling the shots." The release last month of a blueprint on altering electoral methods in 2012 disappointed many democracy advocates and failed to clarify the exact form of universal suffrage beyond 2017. Democrats remain deeply skeptical that Beijing's Communist leaders will allow direct elections without somehow making it difficult for opposition candidates to come to power. Hong Kong's No. 2 official, Henry Tang, and other pro-Beijing have fueled suspicions in recent weeks by saying that even with universal suffrage, groups crammed with pro-establishment allies that now make up half the legislature may not be abolished. (Editing by Ron Popeski) World China Add a Comment More from Reuters Abu Dhabi gives Dubai $10 billion in surprise bailout DUBAI (Reuters) - Abu Dhabi bailed out neighboring Dubai on Monday with $10 billion in surprise aid for debt-laden Dubai World, driving stock markets higher, but Dubai said creditors still needed to approve a standstill on outstanding debt. ArcelorMittal could cut 10,000 jobs: report Cadbury upbeat in defense against Kraft bid Obama to meet with bankers, decries "fat cats" European stock futures signal strong gains Nikkei trims losses on Dubai » More Top News Fast forward for investors With 2009 all but over for investors, the coming week will be dominated by the issues that will shape markets in 2010. Full Article Five market themes next week Over easy entrepreneur For years restaurateur Ken Pendery Jr. watched rival chains expand their operations. Now those same competitors are retreating and Pendery is going on the offensive. Full Article Blog: Small business confidence spirals Video: Who won the social media war? small business © Copyright 2009 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal ECVJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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