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US + World: Hong Kong is not Autonomous

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  1. #21

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    Quote Originally Posted by Hoista:
    If the trade status is lost, it will accelerate the demise of Hong Kong. As there will be no longer incentive to keep Hong Kong autonomous, HK'ers will suffer the most. Expats will leave, international businesses will relocate to more cost efficient places if they still want to trade. HK'ers will be treated like mainlanders and will have less jobs and prospects. HK'ers will suffer more than the mainland.

    Emphasis on if the US uses the full nuclear option.
    Is the US trade status so important for non-American foreign companies and expats? Just wondering how much of HK’s economy especially in the financial
    sector rests upon this relationship.

  2. #22

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    Quote Originally Posted by merchantms:
    Is the US trade status so important for non-American foreign companies and expats? Just wondering how much of HK’s economy especially in the financial
    sector rests upon this relationship.
    Its the banks that matters. Any sanctions is not likely just to freeze the individual access to America or his assets (if any) in America, but it would mandate any banks having dealings with those individuals to cease any such business, otherwise those banks will also be sanctioned and cut-off from American capital and markets.
    mrgoodkat likes this.

  3. #23

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    And one more escalation...

    Senator Tom Cotton (R-Arkansas) and Senator Marsha Blackburn (R-Tennessee) today unveiled the SECURE CAMPUS Act, legislation that would prohibit Chinese nationals from receiving visas to the United States for graduate or post-graduate studies in STEM fields. The bill would also place restrictions on participants in Chinese foreign talent-recruitment programs, such as the Thousand Talents Program. Congressman David Kustoff (R-Tennessee) will introduce companion legislation in the House of Representatives.
    (No clue what the "Thousand Talents" are...)

    e SECURE CAMPUS Act

    B
    • ars PRC nationals from receiving student or research visas to the United States for graduate or post-graduate studies in STEM fields.
    • The legislation provides a waiver for members of religious or ethnic groups systematically oppressed by the CCP.
    • The legislation also provides the President with a national security waiver on a case-by-case basis.
    • This prohibition does not apply to visa applicants from Taiwan or Hong Kong.
    • Prohibits PRC nationals and participants in China's foreign talent recruitment programs from receiving or working on federal R&D grants in STEM fields.
    • Requires universities, laboratories, and research institutes receiving federal funding to attest that they will not knowingly employ participants in China's foreign talent recruitment programs.
    • Mandates that participants in China's foreign talent recruitment programs register under FARA.
    • Expands the definition of "economic espionage" under U.S. Code to more accurately reflect the range of institutions that the CCP uses to steal technology from t the United States.
    • Mandates that the Secretary of State develop and publish a list of China's foreign talent recruitment programs.

    https://www.cotton.senate.gov/?p=press_release&id=1371

  4. #24

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    Quote Originally Posted by Aramis:
    In my opinion, HK is a pawn in the little chess game that China and the US are playing and neither of them particularly cares what happens to the people of this city.
    The tragic thing is that this need not be so. The smart move for HK would have been to lie low while Beijing and Washington fight it out. But no, instead Carrie Lam insist, against all wise counsel, to ram through the extraditon bill. That triggered a cascade of events beyond her control. The stupidity and arrogance of Lam combined with Beijing's inflexible attitude has brought us to this point.
    Aramis, HK_Katherine and john_1122 like this.

  5. #25

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    Quote Originally Posted by merchantms:
    Is the US trade status so important for non-American foreign companies and expats? Just wondering how much of HK’s economy especially in the financial
    sector rests upon this relationship.
    Depends on how much influence it has on the trade being performed in USD, since USD is the de-facto global currency, this can impact international companies. Hence why INSTEX was setup by France, Germany and UK to work around US sanctions on Iran.

    USD is the US's biggest asset, that's why the they see Libra as a massive threat since it could undermine the use of USD as a global trading currency if it is succesful. Which reduces the US caopability to use sanctions as a weapon. It's also why Russia and China are both working to decouple from the USD global trading systems and create alternatives.

  6. #26

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    Quote Originally Posted by shri:
    And one more escalation...



    (No clue what the "Thousand Talents" are...)



    https://www.cotton.senate.gov/?p=press_release&id=1371
    The Thousand Talents Program is a policy of China to recruit gifted academics, researchers and other notable individuals to work in China and use their talent to benefit China. It is not illegal in the US to join this program per se (for now) but the US concern is that China could be stealing intellectual property using this program.

    And while we are on escalation, the House of Representatives has also passed a bill on sanctions against Xinjiang officials found violating human rights:

    https://thehill.com/homenews/house/4...xinjiang-camps
    Last edited by Coolboy; 28-05-2020 at 09:56 AM.
    Baklava likes this.

  7. #27

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    Quote Originally Posted by Coolboy:
    The tragic thing is that this need not be so. The smart move for HK would have been to lie low while Beijing and Washington fight it out. But no, instead Carrie Lam insist, against all wise counsel, to ram through the extraditon bill. That triggered a cascade of events beyond her control. The stupidity and arrogance of Lam combined with Beijing's inflexible attitude has brought us to this point.
    I agree, instead of taking the opportunity that the COVID crisis has brought to bridge the divide and perhaps quietly make concessions, they are doubling down and trying to use the crisis to further the CCP goals and the assimilation of HK. I wouldn't shed one tear if the HK government and Lam had their Ceausescu moment, they are just asking for it.

  8. #28

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    Original Post Deleted
    The anti-China stance is beyond just Trump now, there is a bipartisan consenus on this in Washington.

  9. #29

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    Quote Originally Posted by mrgoodkat:
    China: HK is an inalienable part of HK and you should stay out of it
    US: HK is an inalienable part of China and they should be treated as one
    China: That's not what I meant
    Very to the point. Neighbor receives a gift every year. Neighbor no longer receives a gift. Neighbor gets mad as feels entitled. China logic.
    Coolboy likes this.

  10. #30

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    The market hasn't really reacted to the news overnight (HK Autonomy, Xinjiang, Meng) - why not?