Beijing’s aggressive behavior shows why countries should avoid excessive economic dependence on China: Pompeo
Beijing:
China castigated “narrow and ridiculous” views in the United States on Wednesday after US Secretary of State Mike Pompeo criticized HSBC for supporting the controversial Beijing security law in Hong Kong.
Pompeo called HSBC a “cautionary tale” on Tuesday and warned of corporate overdependence on China after Britain’s Asian-oriented banking giant released a picture of its chief executive last week Asian, Peter Wong, signing a petition supporting the measure.
“This display of loyalty seems to have earned HSBC little respect in Beijing, which continues to use the bank’s activities in China as a political lever against London,” Pompeo said in a statement.
“Beijing’s aggressive behavior shows why countries should avoid excessive economic dependence on China and should protect their critical infrastructure from the influence of the CCP,” he said, referring to the Chinese Communist Party .
Last month, China’s parliament approved plans to pass a law that will punish subversion and other perceived crimes in Hong Kong, a move some activists say will kill the promised freedoms of the former British colony.
Pompeo responded by stating that Hong Kong would no longer be considered autonomous from mainland China in the eyes of American law.
Beijing criticized the views on Wednesday as “narrow and ridiculous”, saying that the business community in Hong Kong had made an “objective and fair assessment” of the proposed legislation.
Foreign Ministry spokeswoman Hua Chunying urged the United States at a regular media briefing to “stop spreading dissent and stirring up trouble.”
HSBC offered support for the law after public pressure from a pro-Beijing figure in Hong Kong who underscored the bank’s dependence on business in China.
The executive of HSBC Wong, speaking to the Chinese state news agency Xinhua, expressed hope that the law would bring “long-term stability and prosperity” to Hong Kong.
Other British companies that supported the law, contradicting London’s official position, include Standard Chartered Bank.
Pompeo also renewed on Tuesday its call to all countries to avoid the Chinese telecommunications giant Huawei, which, according to Washington, will endanger national security if it is allowed to dominate the construction of fifth-generation Internet.
(With the exception of the title, this story was not edited by GalacticGaming staff and is published from a syndicated feed.)
