By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The News GodThe News God
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
    • Travel
    • Education
    • Entertainment
    • Law
    • General
Reading: Political News: US law backing Hong Kong protests could end up hurting everyone — the US, China and Hong Kong
Share
The News GodThe News God
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
Search
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
    • Travel
    • Education
    • Entertainment
    • Law
    • General
Follow US
  • Blog
  • Blog
  • Advertise
  • Advertise
The News God > Blog > News > Political News: US law backing Hong Kong protests could end up hurting everyone — the US, China and Hong Kong
News

Political News: US law backing Hong Kong protests could end up hurting everyone — the US, China and Hong Kong

Sampson Gaddah
Sampson Gaddah November 29, 2019
Updated 2019/12/16 at 7:54 PM
Share
6 Min Read
Political News: US law backing Hong Kong protests could end up hurting everyone — the US, China and Hong Kong – CNBC
SHARE

Political News:

Secondary school students attend a rally at Edinburgh Place in Hong Kong on August 22, 2019.

Anthony Wallace | AFP | Getty Images

U.S. President Donald Trump signed into law two bills supporting Hong Kong protesters on Wednesday.

The laws were introduced to preserve Hong Kong’s rights and autonomy, but one of them actually contains provisions that could end up hurting the economies of the U.S., China and Hong Kong.

Trump signed two bills on Wednesday pertaining to Hong Kong: One involves an annual review of the city’s autonomy from China; the another bars the sale of munitions to Hong Kong police, such as tear gas and rubber bullets.

It is the first — the Hong Kong Human Rights and Democracy Act of 2019 — that could lead to the removal of the so-called special status that Hong Kong currently enjoys, and that could hurt the Chinese territory’s economic prospects and businesses that operate there.

Hong Kong, a former British colony that returned to Chinese rule in 1997, has seen widespread demonstrations since June, some of which have led to violent clashes between protesters and the police. The protests were initially sparked by a proposed law that would have allowed extradition to mainland China, but the unrest later morphed into broader anti-government demonstrations that include demands such as greater democracy and universal suffrage.

The two U.S. laws come amid widespread criticism of heavy-handed treatment of protesters by the Hong Kong police and government, which Beijing supports.

Political News: Protecting Hong Kong

The Hong Kong Human Rights and Democracy Act of 2019 include the following provisions:

  • Requiring the U.S. State Department to annually review whether Hong Kong is “sufficiently autonomous” from China to justify its “unique treatment” under U.S. law
  • Requiring the American president to impose sanctions on individuals found violating human rights in Hong Kong by freezing their assets and denying them entry into the U.S.
  • U.S. visas to Hong Kong applicants may not be denied because they’ve been arrested or detained for taking part in pro-democracy protests

The bill was touted by Congress as a way to deter Beijing’s influence and interference in Hong Kong’s internal affairs. But many analysts have said it’s largely “symbolic” in nature.

“I think it’s (a) significant but symbolic step,” Ben Bland, director of the Southeast Asia Project at Australian think tank Lowy Institute, said last week before Congress passed the two bills.

“It’s really important for the Hong Kong democracy movement. Many people on the streets have been calling for the U.S. to signal its support and to signal its dissatisfaction with what the Chinese government has been doing in Hong Kong over the last few years: Squeezing the city’s freedom and autonomy,” he told CNBC’s “Squawk Box Asia.”

Political News: Losing special status

As a special administrative region of China, Hong Kong is governed under the “one country, two systems” principle. Under that structure, Hong Kong is given self-governing power, a largely separate legal and economic framework from China, and various freedoms including limited election rights.

Such a system underpins Hong Kong’s status as a global financial and business center, especially as a middleman between China and the world. The city’s autonomy from China is also a reason why the U.S. treats it differently from other Chinese cities. For example, elevated U.S. tariffs imposed on China in the trade war don’t apply to Hong Kong.

Hong Kong’s importance to the Chinese economy is disproportionate to its size.

Tianlei Huang

Peterson Institute for International Economics

Losing that special treatment would damage the city’s economy, and its repercussions could potentially feed through the global financial system.

To be sure, the Hong Kong Human Rights and Democracy Act of 2019 by itself doesn’t mandate the removal of the territory’s special status if the U.S. finds that Hong Kong is not sufficiently autonomous from China. The revocation has to come from Trump through an executive order, or Congress via the United States-Hong Kong Policy Act of 1992, which spells out Washington’s special treatment of the city.

Nevertheless, analysts said Washington is not likely to go so far as to revoke the city’s special status, given the economic stake the U.S. has in Hong Kong.

Political News: US interests in Hong Kong

One reason why Washington wouldn’t cancel Hong Kong’s special status is the tight trade and financial relationship between the two, observers said.

On its website, the State Department said that more than 1,300 American firms operate in Hong Kong, of which 300 base their Asian regional operations there. Nearly all major U.S. financial firms have a presence there.

On trade, Hong Kong has been a major destination for U.S. legal and accounting services, according to the State Department. Last year, the U.S.’s largest goods trade surplus worldwide — at $31.1 billion — was with Hong Kong, the State Department said.

Many of those relationships were

Read More

You Might Also Like

This weekend’s Fourth of July celebration in Boston is “all about traditions.”

Biden’s policies of open borders guaranteed death and destruction.

Today’s Forecast: Heavy rain will hit the Southeast and Gulf Coast.

Best weight loss machines you should definitely try

Biden boosts US military deployments in Europe

Sampson Gaddah November 29, 2019
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Political News: Black Friday protesters shut down Amazon warehouse in protest at global mega-sale claiming it ‘harms the p – The Sun Political News: Black Friday protesters shut down Amazon warehouse in protest at global mega-sale claiming it ‘harms the p – The Sun
Next Article Political News: Jersey swap between Dallas Cowboys and Buffalo Bills 2019 – The Dallas Morning News Political News: Jersey swap between Dallas Cowboys and Buffalo Bills 2019 – The Dallas Morning News
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Stay Connected

235.3k Followers Like
69.1k Followers Follow
11.6k Followers Pin
56.4k Followers Follow
136k Subscribers Subscribe

Latest News

denisleskovet@gmail.com
Ten Reasons Why Amazon suspended  your account
Tech & Autos July 2, 2022
Former Chelsea forward picks the better signing between Gabriel Jesus and Richarlison.
Former Chelsea forward picks the better signing between Gabriel Jesus and Richarlison. Check was he said?
Sports July 2, 2022
Luka Modric says He wouldn’t vilify Kylian Mbappe for snubbing Real Madrid.
Luka Modric says He wouldn’t vilify Kylian Mbappe for snubbing Real Madrid.
Sports July 2, 2022
Jamie Carragher makes a bold Cristiano Ronaldo prediction following Mohamed Salah's contract extension.
Jamie Carragher makes a bold Cristiano Ronaldo prediction following Mohamed Salah’s contract extension.
Sports July 2, 2022

You Might also Like

News

This weekend’s Fourth of July celebration in Boston is “all about traditions.”

July 1, 2022
News

Biden’s policies of open borders guaranteed death and destruction.

July 1, 2022
News

Today’s Forecast: Heavy rain will hit the Southeast and Gulf Coast.

June 30, 2022
Best weight loss machines
News

Best weight loss machines you should definitely try

June 30, 2022

© 2022 Thenewsgod. All Rights Reserved.

  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Advertise
  • Disclaimer

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?