Revocation can rearrange the fortunes of China’s economic gateway to the world. FMTNews China HongKong US Unrest
Victoria Harbour, Hong Kong. The arrangement turned city-state into a world-class financial centre.
Those liberties included a free market economy, an independent judiciary, free speech and a local legislature. Reciprocal visa-free travel deals, a currency pegged to the dollar, the world’s fourth-largest stock exchange as well as friendly laws, taxes and legal protections all helped grease the wheels of business.
“He can alter Hong Kong’s tariff treatment to make it the same as China’s, or he could alter its treatment under export control laws to make it harder to export high tech … or he could do both,” he told AFP.“I expect him to take some major steps that would show China he is serious, but not to change every US law that applies to Hong Kong,” he said.
One of the provisions in that bill was for the State Department to certify each year whether Hong Kong maintains enough autonomy from China to justify its special trade status.
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