] "Do you think Hong Kong was democratic under British
] rule?" Foreign Minister Li Zhaoxing asked reporters in
] Shanghai today. "Did the British raise concerns about
] that? Did the Americans raise concerns? No. Why don't you
] take a look at this double standard?"
...
] Prominent executives have warned that elections could
] lead to the establishment of a welfare state, a concern
] also raised in the late 1940's.

The truth hurts. The U.S. agitated for democracy during the second world war, and then dropped it. It didn't become a popular idea again until it got close to hand-over time. The economic arguements being made by the executives here are despicable and regressive. Frankly, primitive.

The New York Times : China Condemns U.S. and Britain on Hong Kong Democracy