However, the U.S. said that China refused to allow the meeting to proceed, calling it “another example of the Chinese Communist Party’s fear of transparency and international accountability for its actions, and belief that it can exploit the current global health pandemic to distract the world from its intended assault on Hong Kong and abrogation of its own commitments to the Hong Kong people.” … [Read more...] about US, UK call for action at UN Security Council over China’s Hong Kong crackdown
Taiwan stiffens resistance to china after hong kong crackdown
The pandemic had quieted the frequent, large-scale pro-democracy demonstrations that seized Hong Kong last year. But with Beijing’s move this week, protests stirred again and could persist as Chinese officials finalize the national security legislation, expected by the end of summer. … [Read more...] about Trump likely to slap limited sanctions on China over Hong Kong crackdown
HONG KONG: Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy. WHY DOES CHINA NEED HONG KONG AS IT IS? China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing. The size of Hong Kong's economy may only be the equivalent of 2.7% of mainland China's, down from 18.4% in 1997 when it reverted to Chinese rule, but the territory punches above its weight due to world-class financial and legal systems. As a gateway between China and the West, Hong Kong attracts global capital for China more efficiently than its other cities. HOW IS THAT CHANGING? Under the 'one country, two systems' formula agreed as part of Britain's handover of the territory … [Read more...] about How important is Hong Kong to China as a free finance hub?
But Beijing might not lose too much sleep over the loss. From the perspective of China’s leaders, keeping Hong Kong under their political thumb is more important. That is why Chief Executive Carrie Lam’s administration tried to brazen it out, tone deaf to overwhelming popular opinion. For Beijing, putting the extradition bill on the back burner is merely a tactical concession to contain the protests. … [Read more...] about Hong Kong’s battle for freedom is a little too late
The chief diplomats from the English-speaking nations said the undermining of Hong Kong's autonomy would destroy global trust needed to tackle COVID-19. Pictured is the UK's Foreign Secretary Dominic Raab (left) in Montreal in January 2020 with Canadian Foreign Minister Francois-Philippe Champagne … [Read more...] about China’s chilling crackdown on freedom in Hong Kong sees Australia join allies U.S., UK and Canada to release a damning statement saying they are ‘destroying’ trust