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Hong Kong’s security law is going to devastate its economy

asia.nikkei.com

21–30 of 155 posts

Re: Hong Kong’s security law is going to devastate its economy

#21
post #8

And the real losers in this fight here are Hongkongese citizens, who fought for their freedom and ultimately are losing it, on top of facing an economic crisis.

As I genuinely asked in my comment separately in the thread, what practical freedoms are being lost by the everyday person in Hong Kong that would not be considered crimes in the US (or Hong Kong prior to this), for example?

Random detention for annoying the CCP will now be the actual law.

Re: Hong Kong’s security law is going to devastate its economy

#22
post #18

I read all these headlines, but when I then followup to read more about the text of the proposed laws [1], I have a hard time seeing that aside from freedom of speech infringements (and ability to imprison, fine based on those -- which are clearly a bit vague in terms of enforcement, but otherwise as bland as a lot of US legislation), these laws are not egregiously different from what exist in some other countries. A…

This law, if implemented fully, will effectively demolish the “one country, two systems” agreement, which has been the basis of Hong Kong’s stability and success for the last 23 years. The Beijing government is pulling out of their side of the deal they made in 1997. What will happen next is not something I can predict, but history shows us some of the things that can happen when communist parties impose their rule o…

But as I understand it, the "2 systems" has to do with economic and political governance. I see nothing in those laws about changing the financial or economic systems of the country that would lead businesses to gulp and say no thank you?

Re: Hong Kong’s security law is going to devastate its economy

#23

If anything, doesn't that strengthen China's hand? More reliance on the mainland for jobs and handouts, more protests and counter protests so they can justify additional crackdowns. Less westerners and less international firms, less exposure to the West. Feels like a calculated move.

The CCP can now afford to sacrifice HK, their economy is now much larger than it was in 97.

Re: Hong Kong’s security law is going to devastate its economy

#24

I read all these headlines, but when I then followup to read more about the text of the proposed laws [1], I have a hard time seeing that aside from freedom of speech infringements (and ability to imprison, fine based on those -- which are clearly a bit vague in terms of enforcement, but otherwise as bland as a lot of US legislation), these laws are not egregiously different from what exist in some other countries. A…

The ability to have their own laws, their own courts, and their own government is under ongoing and successful attack. Perhaps you're blissfully unaware of the tightening grip of Beijing over the last 20 years, of which this is just the latest incremental move? It's hard to know whether to read your posts as earnest ignorance or subtle propaganda.

Re: Hong Kong’s security law is going to devastate its economy

#25
post #8

And the real losers in this fight here are Hongkongese citizens, who fought for their freedom and ultimately are losing it, on top of facing an economic crisis.

As I genuinely asked in my comment separately in the thread, what practical freedoms are being lost by the everyday person in Hong Kong that would not be considered crimes in the US (or Hong Kong prior to this), for example?

A reasonable degree of self-representation.

Re: Hong Kong’s security law is going to devastate its economy

#26

If anything, doesn't that strengthen China's hand? More reliance on the mainland for jobs and handouts, more protests and counter protests so they can justify additional crackdowns. Less westerners and less international firms, less exposure to the West. Feels like a calculated move.

> More reliance on the mainland for jobs and handouts, more protests and counter protests so they can justify additional crackdowns. Less westerners and less international firms, less exposure to the West.

That the US is announcing this now, means the context is already well past the tipping point. The US has been reluctant to go too far regarding Hong Kong, because of its importance to the rest of the global economy as a conduit into China's economy (a large share of all foreign direct investment into China goes through HK, and they depend on it as a large source of US Dollars to conduct trade with the rest of the world). This response is actually quite late, running from behind. The writing has been on the wall in extra large letters for several years now, for much of Xi's reign.

Re: Hong Kong’s security law is going to devastate its economy

#27
post #18

Earlier quoted context omitted.

This law, if implemented fully, will effectively demolish the “one country, two systems” agreement, which has been the basis of Hong Kong’s stability and success for the last 23 years. The Beijing government is pulling out of their side of the deal they made in 1997. What will happen next is not something I can predict, but history shows us some of the things that can happen when communist parties impose their rule o…

But as I understand it, the "2 systems" has to do with economic and political governance. I see nothing in those laws about changing the financial or economic systems of the country that would lead businesses to gulp and say no thank you?

That’s a good question, and it depends on how this line is implemented: “It shall also establish a sound legal system in the HKSAR to maintain national security.”

Under the Basic Law, Hong Kong has it’s own legal system, so there is no constitutionally acceptable way Beijing can “establish” new legal system to it’s liking. Perhaps the law is simply a threat, and they won’t take action, but if it is fully implemented, it means the end of the current legal system’s autonomy.

The vagueness of this law is a good example of how the PRC’s legal system is very open-ended compared to other countries, and allows for arbitrary action from China’s rulers.

Re: Hong Kong’s security law is going to devastate its economy

#28
post #9
post #8

And the real losers in this fight here are Hongkongese citizens, who fought for their freedom and ultimately are losing it, on top of facing an economic crisis.

yeah, hopefully they just move to taiwan

Yet Taiwan is also under threat from PRC. Also emigrating (ie leaving born place, family, friends, etc) is not that easy even when money/job is not an issue.

Re: Hong Kong’s security law is going to devastate its economy

#30
post #8

And the real losers in this fight here are Hongkongese citizens, who fought for their freedom and ultimately are losing it, on top of facing an economic crisis.

I saw the suggestion on twitter that the US and other countries should hand out visas to people from Hong Kong who want to live in a free country (with the hope that the US doesn't continue to decline, from that perspective).
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