Hong Kong told the United States to steer clear of the debate over China’s national security legislation and warned that the withdrawal of the financial center’s special status under US law could backfire. economy.
President Donald Trump is expected to announce his response to this week’s Chinese parliament’s advancement of security legislation in Hong Kong later Friday, which many lawyers, diplomats and investors say could erode the city’s freedoms.
The former British colony was shaken by civil unrest amid fears that Beijing would restrict the high degree of autonomy it enjoyed as part of a “one country, two systems” formula adopted upon its return to Chinese power in 1997.
“Any sanction is a double-edged sword that will not only harm the interests of Hong Kong but also significantly those of the United States,” said the Hong Kong government on Thursday.
From 2009 to 2018, the U.S. trade surplus of $ 297 billion with Hong Kong was the largest of all of Washington’s trading partners, and 1,300 U.S. businesses were based in the city, he said.
Beijing says the new legislation, which should come into force before September, will tackle secession, subversion, terrorism and foreign interference in the city. He could see Chinese intelligence agencies setting up bases in Hong Kong.
The Chinese Ministry of Public Security (MPS) said it would “guide and support the Hong Kong police to end the violence and restore order.” The Hong Kong police are independent from China and the MPS has no enforcement powers in the city.
Riot police fired pepperballs this week to disperse thousands of protesters in the city’s first major unrest since anti-government protests paralyzed it for months last year, and after the coronavirus has reduced fervor this year.
INTERNATIONAL CONCERN
Credit rating agency Fitch said it expects Hong Kong’s economy to contract by 5% this year, largely due to the coronavirus, and the outlook for the operating environment. its banks were negative.
The Hong Kong Hang Seng Index, which lost around 3% after the announcement of security legislation, was down 0.711% in the early afternoon.
Trump’s chief economic adviser Larry Kudlow has warned that Hong Kong, which enjoys special privileges under US law because of its high degree of autonomy from Beijing, may now have to be treated like China for trade and other financial matters.
The State Department said it could “no longer certify that Hong Kong continues to justify (differential) treatment” of Beijing.
The Chinese authorities and the government of Hong Kong, supported by Beijing, affirm that the legislation does not threaten the autonomy of the city and that the interests of the foreign investors would be preserved.
However, many Hong Kong residents believe their city is on the brink of historic change.
“No matter how it goes, I will always be on the side of the people,” said Samantha Tam, 27. The office worker said that uncertainty had forced her to put a stop to her plan to have a baby after her marriage next year.
“When Hong Kong really loses its special status, China will see the consequences. I just want to burn together,” she said, paraphrasing a protest slogan targeting Beijing: “If we burn, you burn with us” .
The leader of Hong Kong, supported by Beijing, Carrie Lam, urged the citizens to “join forces to pursue our dreams while putting aside our differences”, in a press release published in the newspapers.
Legislation was necessary due to “terrorist threat”, she said, adding that organizations advocating “independence and self-determination” had challenged the authority of continental and local governments and argued for interference. foreign.
The five demands of last year’s pro-democracy protest movement included universal suffrage and an independent inquiry into the police treatment of the protests, but not independence. A minority of protesters waved “Hong Kong independence” flags.
Independence is an anathema for Beijing.
Protesters view security laws, as well as a bill criminalizing non-compliance with the Chinese national anthem, as Beijing’s latest attempt to tighten control over the city.
Australia, Britain, Canada and the United States are among the countries that have condemned the security bill. Japan said it was “seriously concerned”.
Britain has said it will grant greater visa rights to British passport holders abroad from Hong Kong unless China suspends its plans.
(With the exception of the title, this story was not edited by GalacticGaming staff and is published from a syndicated feed.)
