China’s decision to impose the new national security law on Hong Kong lies in direct conflict with its international obligations under the principles of the legally-binding, UN-registered Sino-British Joint Declaration. The proposed law would undermine the One Country, Two Systems framework. It also raises the prospect of prosecution in Hong Kong for political crimes, and undermines existing commitments to protect the rights of Hong Kong people – including those set out in the International Covenant on Civil and Political Rights and the International Covenant on Economic, Social and Cultural Rights. … [Read more...] about US, UK, Australia, Canada oppose Beijing’s Hong Kong security law; China warns of tough action
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The US and UK raised the issue of China's controversial security law for Hong Kong during an emergency discussion in the Security Council, angering Beijing which said the UN organ should instead pay attention to the US' excessive use of force against protesters in Minneapolis and its racial discrimination against black communities. The 15-nation Council discussed Hong Kong in an informal virtual meeting after the US and United Kingdom brought the issue for emergency discussion under "any other business" on Friday. "Today I asked the Council one simple question: are we going to take the honourable stand to defend the human rights and the dignified way of life that millions of Hong Kong citizens have enjoyed and deserve like all freedom loving people, or are we going to allow the Chinese Communist Party to violate international law and force its will on the people of Hong Kong who look to us to preserve their way of life and their freedoms?" US Ambassador to the UN Kelly Craft said. … [Read more...] about US, UK raise Hong Kong issue in Security Council, angry China rakes up Minneapolis protests
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?
That China has been making such preparations for tight control over Hong Kong affairs was reflected in the new appointments early this year for the administrative body, the Hong Kong and Macao Affairs Office with Luo Huining in January and Xia Baolong in February as the head. … [Read more...] about Why India must protest China’s Hong Kong policy
"One country, two systems", the brilliant formulation that allowed Britain to transfer Hong Kong to the People’s Republic of China in 1997, allowed a lot of people to believe that the two systems would converge over time. That while the mainland would adopt free markets and democracy, Hong Kong would become better integrated with its motherland. That Hong Kong would change the mainland. In China, economic freedom would lead to political freedom and it would follow Japan, South Korea and Taiwan towards democracy. … [Read more...] about Hong Kong’s battle for freedom is a little too late