Hong Kong is at a gentle boil. As of this writing, tens of thousands of students have been politely demonstrating, calling for the Beijing-appointed chief executive, C.Y. Leung, to resign and be replaced through free elections. Politics don’t often divert Hong Kong’s manic obsession with business and finance, but the upsurge of youthful discontent has presented China with one of its biggest popular challenges since the 1989 Tiananmen uprising – which China insists never happened. So far,...












