Hong Kong's government warned Washington that withdrawing its special U.S. status, which has underpinned the city as a global financial hub, could be a 'double-edged sword' and urged the United States to stop interfering in internal affairs.
HONG KONG - Hong Kong’s government warned Washington that withdrawing its special U.S. status, which has underpinned the city as a global financial hub, could be a “double-edged sword” and urged the United States to stop interfering in internal affairs.
The former British colony enjoys a high degree of autonomy under a “one country, two systems” formula since it returned to Chinese rule in 1997. Beijing says the new legislation will tackle secession, subversion, terrorism and foreign interference in the city. It could see Chinese intelligence agencies set up bases there.
Trump’s top economic adviser Larry Kudlow warned that Hong Kong, which has enjoyed special privileges under U.S. law based on its high degree of autonomy from Beijing, may now need to be treated like China on trade and other financial matters.
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