US Formally Ends Three Accords With Hong Kong

20 Août, 2020, 02:10 | Auteur: Anatole Charbonneau
  • NewsChinese Military Post Threatening Video To U.S. Warning To Stay Out Of Hong Kongby Alex Baldridge

Hong Kong's gross domestic product slumped 9 percent year-on-year in the second quarter of this year as the economy was dealt "triple blows" from tightened trade environment, prolonged social disturbances, and a severe epidemic situation.

Hong Kong Chief Executive Carrie Lam is seen during a press conference on July 31, 2020.

The United States has chose to revoke the special trade status it offered Hong Kong in response to the suppression of a pro-democracy movement that started in 2019 and China's adamant decision to install an anti-subversion law in the territory.

Lam and 10 others, including her chief officials and Chinese officials, have been put on a US sanctions list that bars them from entering the country and targets financial firms handling their USA assets.

The U.S. sanction 11 Chinese officials and Beijing retaliated by sanctioning Sen. Despite the movement suffering a near fatal blow with the forced adoption of the Hong Kong National Security Law (NSL), Lai has refused to relent in his criticism of Beijing.

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As the high unemployment rate has yet to be contained, the government should take more actions as soon as possible, such distributing cash handouts to the laid-offs, especially to those in hardest-hit sectors including tourism, catering, retail, and transport, Wong Kwok, chairman of the Hong Kong Federation of Trade Unions, said.

The US government has also required goods made in Hong Kong for export to the US to be labelled as "Made in China" after Sept 25.

The Hong Kong government initially denounced the United States sanctions as "shameless and despicable" and "blatant and barbaric" interference in China's internal affairs.

Despite the so-called sanctions, Hong Kong will continue to introduce its strengths, especially those from the Guangdong-Hong Kong-Macao Greater Bay Area and in the financial services, to USA companies interested in setting up their business in Hong Kong, Lam said.

Lam condemned some foreign counties for their double standards on the postponement of the Legislative Council election in Hong Kong.

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