Although some protestors are still battling police, the "pro-democracy" protests in Hong Kong will eventually fizzle out, as Hong Kong residents' support for the protest is waning. Now it is time to examine the causes, effects and validity of the protests.

The effects of the seemingly "leaderless" campaign of "civil disobedience" and mindless sit-ins are clear: paralysis of key roads and a severe blow to financial activities in Hong Kong over the past few weeks. Such has been the deleterious effect on the economy of the city, a vital and vibrant global financial hub, that many Hong Kong residents across all ages and social backgrounds have confronted the (largely student) protesters to convey the harmful impact of their actions on the lives of ordinary, needy Hong Kong families and their children. This deleterious economic effect, therefore, requires further attention and publicity.

Hong Kong remains one of the key financial centers in the world and still acts as a bridge between the Chinese mainland's economy and the world economy. Hong Kong residents worried about the city's future feel the protests could dissuade overseas investors and businesses from expanding their operations on the mainland through the city. In fact, they fear that the international business community could opt for other markets and economies to further their expansion plans.

To examine the causes and validity of the "protests", it is important to know what sort of elements instigated and continue to stoke the protests. There is need to study the role of the United States government and some overseas organizations that are said to have acted as "consultants" to the "protesters". Despite the open position taken by the Hong Kong government on the protests, there has been no sign of any openness on the part of the US government-protester alliance.

Do the "protests" once again highlight the immense difficulty the US government continues to have because of the erosion of its power and global influence? You bet they do.

Ignoring the fact that the US secret surveillance saga - exposed by former National Security Agency operative Edward Snowden - continues to grab headlines, Washington and its allies are at it again. In keeping with the US government's characteristic opaque operations, the "consultants" for the "protests" appear to have been delegated to a little known, media-shy quasi-government organization, which calls itself, rather euphemistically, the National Endowment for Democracy. And it hardly comes as a surprise that the NED is based in Washington and its office is not too far from Capitol Hill.

Despite repeated requests, the US government has neither denied nor explained a series of meetings between NED "leaders" and the students leading the Hong Kong "protests". Media reports, however, suggest such meetings indeed took place in Hong Kong a few months ago.

In fact, Louisa Greve, one of NED's directors, is reported to have set up those meetings. Yet Greve's response to questions on her involvement has been a conspicuous silence.

Even organizationally, the NED has not responded to the many e-mail requests for information on its possible involvement in the Hong Kong protests. No surprises there either - for the NED is funded entirely by the US government.

Even more telling is the official statement issued by the US government recently on the matter. It reads: "The US categorically rejects accusations that we are manipulating the activities of any person, group or political party in Hong Kong". No mention of NED or Greve.

Instead of meddling in affairs of other countries, especially emerging economies, to destabilize their economic rise, the US government needs to indulge in some genuine self-reflection on its role on the world stage. It should not and cannot play the role of "world policeman" anymore. Instead, it should embrace the new success mantra: cooperation and collaboration with an increasingly large and culturally diverse group of countries.

In short, the US should re-focus its ethnocentric eyes to realize that, although Anglo-Saxon values could still play a key part in today's world order, they no longer dominate the proceedings.

The author is a visiting professor at the University of International Business and Economics in Beijing and a senior lecturer at Southampton Solent University's School of Business, UK.