US law backing Hong Kong protests could end up hurting everyone — the US, China and Hong Kong – CNBC

AFP

As a special administrative region of China, Hong Kong is governed under the”one nation, 2 systems”principle. Such a system underpins Hong Kong’s status as an international financial and service center, especially as a middleman between China and the world. To be sure, the Hong Kong Human Rights and Democracy Act of 2019 by itself doesn’t mandate the elimination of the area’s special status if the U.S. discovers that Hong Kong is not adequately self-governing from China. In addition, Hong Kong is China’s “most essential springboard” for foreign direct financial investment, the Natixis report said. In all, “Hong Kong’s significance to the Chinese economy is out of proportion to its size,” Tianlei Huang, a research expert at the Peterson Institute for International Economics think tank, wrote in a July report.

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