After civil unrest and protest in Hong Kong in 2019 over the extradition bill then being considered by the Hong Kong legislature, Hong Kong is being rocked further by Beijing’s decision to draw up its own national security law for the Special Administrative Region that would extend to Hong Kong the mainland’s practice of using its national security laws to crack down on activists, journalists, lawyers, and other human rights defenders seeking to protect the promise made to Hong Kong by the Sino-British Joint Declaration of 1997 that the people of Hong Kong would continue to enjoy their own way of life free of the mainland’s authoritarianism. The model of 'one country, two systems' was designed to guarantee human rights, the rule of law, and the progression towards democracy in Hong Kong.
The U.S. Administration’s announcement last week that it intends to revoke Hong Kong’s special trade status and travel privileges has thrown into question Hong Kong’s status as Asia’s global financial center protecting through the rule of law more than 1300 U.S. companies operating there that are now considering other plans.
“No reasonable person can assert today that Hong Kong maintains a high degree of autonomy from China, given facts on the ground,” U.S. Secretary of State Mike Pompeo announced May 27th. “While the United States once hoped that free and prosperous Hong Kong would provide a model for authoritarian China, it is now clear that China is modeling Hong Kong after itself.” China’s growing authoritarian influence over the pacific region is an ominous sign for financial markets around the world.
Time – U.S. Threatens HK Special Trade Status
U.S. Department of State – PRC Proposal on Hong Kong
Sino-British Joint Declaration of 1997
Time – China’s New National Security Law for Hong Kong
FT – Donald Trump to Revoke Hong Kong Trade Privileges