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August 21, 2014 AT 3:57 AM
Chinese officials and Hong Kong democrats failed on Thursday to resolve a standoff over political reforms in the freewheeling former British colony, a deadlock that could end up shutting down the city's financial district next month. Hong Kong, which returned to Chinese rule in 1997, has been roiled over the past year over how its next leader is chosen in 2017 - by universal suffrage, as the democrats would like, or from a list of pro-Beijing candidates.