Hong Kong's government insists the law will be good for stability and prosperity, and won't harm the political freedoms and judicial autonomy the city was guaranteed for half a century when the United Kingdom handed it back to China exactly 23 years ago. But no draft was made public ahead of its approval by Beijing's top lawmaking body on Tuesday. The law was finally published at 11 p.m. local time as it went into effect.
Unraveling that relationship between Hong Kong and the West would be complicated, given how closely the two are intertwined. Citi analysts have said that more than 1,300 US companies alone operate in the city, for example. And analysts from Eurasia Group warned recently that any redefinition of Washington's ties with the city would"touch on complicated issues of regulatory cooperation, tax treatment, and legal cooperation.
The fire has been lit. Slowly smouldering. Ready to ignite at any moment.
Seriously, when I read the opening paragraph I thought they were talking about the United States. I should have known better, CNN wouldn’t tell us the business community wanted rule of law, or a stable business environment. See, CNN still Sucks!
This is China saying 'stay on bent knee'
It already has. The USA has taken away the soecial status of Hong Cong and will now treat it the same as mainland China. You would think CNN would know this since it is a major change.
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Source: BusinessInsider - 🏆 729. / 51 Read more »