A Look At The Latest Updates In Hong Kong

Cheryl Sanders
June 1, 2020

In point of fact, latest leg of fresh barbs from the Hong Kong officials came forth as the US President Donald Trump had suspended all of the US privileges for the freest Chinese city following a Chinese Government's move to summon a special "National Security Law" aimed at dealing with the China-controlled global Financial HubSpot's pro-democracy protest, since the instrumentation of the newly approved law would enable the Chinese Government of President Xi Jinping to establish law enforcement agency holdings of Mainland China in Hong Kong.

What could losing U.S. "special status" mean for Hong Kong?

More than 1,300 U.S. companies have offices in Hong Kong and provide about 100,000 jobs.

The column went on to suggest the USA protests were a kind of punishment for President Trump over his policy on Hong Kong. We'll have to wait and see on that. While 1C2S is certain to remain a favoured phrase of the establishment, the principle itself - and the rights and freedoms it was meant to guarantee - seem entirely dead, spelling the end of an era for Hong Kong.

Hong Kong leaders lash out at Trump

Beijing has always been infuriated by criticism from Western capitals, especially Washington, over its handling of the pro-democracy protests that shook Hong Kong previous year.

North Korea has voiced its support for China's controversial new national security law, which was imposed on Hong Kong this week.

About 85,000 US citizens work in the city, with more than 1,300 USA companies operating here, some with regional headquarters.

More than 102,000 people in the USA have lost their lives to Covid-19 - by far the biggest death toll in the world. "They will lead to a breakdown of the mutually beneficial Hong Kong-U.S. relationship built up over the years and only hurt local and U.S. businesses in Hong Kong and the people working for them".

The column went on to claim the USA political system is "declining" at an "accelerating" rate and sought to cast the authoritarian Communist government in Beijing as a superior.

"They broke their word to the world on ensuring the autonomy of Hong Kong", Mr Trump said from the White House, where he also blamed China for a "cover up" of the coronavirus outbreak.

Citing the clashes occurring in American cities, the Global Times article claimed that it is "as if the radical rioters in Hong Kong somehow snuck into the US and created a mess". The autonomy of Hong Kong has, until now, given investors faith in the territory's legal and governance systems. Lots of capital may flow out of the city. New draconian laws on secession, subversion and the interference of foreign entities in Hong Kong would likely criminalise a host of activities that are now common practice, and which are in fact protected as rights by the Basic Law (Article 27). The Commerce Department may now restrict US sales of high-tech products but China's national champions, not competitors in Hong Kong, pose the real threats to American preeminence. Also the impact of decoupling on the dollar's status should also be considered as Hong Kong uses the USA dollar as its reserve currency.

For Beijing, Hong Kong is vital for Chinese companies seeking to access foreign currency, global banks and trading firms. The unit is $100 million. "The impact would fall heavily on Hong Kong, with negative effects on US companies operating there as well", he said. Now more than ever the world needs multilateralism.

But attitudes towards China are hardening within the Trump administration, especially after the coronavirus pandemic. Article 18 makes clear that national (meaning PRC) laws shall not be applied in Hong Kong, with the exception of a set of laws listed in Annex III. These could have a major impact on some firms and their stock prices. -China relations at Claremont McKenna College in California.

Pompeo also expressed hope that the Trump administration will receive assistance from Congress, as dozens of bills have been introduced to counter China. Raising tariffs on China was one of the options.

In today's White House speech, Trump said "China has total control over the World Health Organization", despite paying the organisation a fraction of what the U.S. does.

A common language, quality educational systems, and professional opportunities are some reasons those countries are attractive, said John Hu, who has been involved in the migration consultancy business for two decades.

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