May 2020. By imposing a draconian national security law on Hong Kong, China’s leaders have clearly decided that stamping out dissent in the territory is more important than preserving its status as Asia’s premier financial centre. That title is now under direct threat after the Trump administration said on Wednesday that it no longer considered the former British colony to be autonomous from mainland China. This ruling opens the door for more sanctions that could punish individuals and companies and remove a range of special trade and investment privileges. Hong Kong could be left with very little to differentiate it from any other big Chinese city. Many in the western business community are still hoping they can keep their heads down and continue to benefit from Hong Kong’s unique position in the world. They are wrong — from a moral as well as a practical perspective. Hong Kong is now the main battleground in an escalating cold war between China and what is left of the US-led liberal world order. Beijing’s decision to ignore the damage to its global reputation and defy its international treaty obligations under the Sino-British Joint Declaration on Hong Kong shows the Chinese Communist party already believes this.
May 2020. US, China and Hong Kong
