Chinese President Xi Jinping is so nervous about the position of the Communist Party that he is risking a new Cold War and imperiling Hong Kong's position as Asia's preeminent financial hub, the last British governor of the territory told Reuters.
FILE PHOTO: Former Hong Kong governor Chris Patten in Hong Kong, China November 25, 2016. REUTERS/Bobby Yip/File Photo
Chris Patten said Xi’s ‘thuggish’ crackdown in Hong Kong could trigger an outflow of capital and people from the city which funnels the bulk of foreign direct investment into mainland China. “A lot of people will try to leave Hong Kong,” Patten said, adding that he feared capital would also flow out of the territory which Britain handed back to China in 1997.“We have long since passed the stage where, without wanting another Cold War, we have to react to the fact Xi seems to want one himself, seems to want to be able to bully his way to whatever he thinks China wants,” Patten said.
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