Hong Kong No Longer Autonomous From China: Mike Pompeo
US Will Revoke the Preference towards the Country after the Loss of Autonomy
The United States Secretary of State Mike Pompeo has declared to Congress that Hong Kong no longer autonomous from China and will no longer have special treatment under United States rules and laws. Due to this declaration, this will directly affect the trading economy of the country. China will also suffer from the consequences of these actions as the United States already have strained relations with China due to the coronavirus pandemic.
Impact of Mike Pompeo’s statement
According to Mike Pompeo, Hong Kong no longer autonomous from China is because China wants the country to be remodeled after it. Due to the revoking of autonomy, the country is witnessing multiple public demonstrations due to which hundreds of citizens of Hong Kong have been arrested by the police department.
Until now, the United States government was helping Hong Kong becoming a global trading and financial core due to its special status under United States regulations. This special status dates back to the time when the region was under the rule of the British and was given beneficial circumstances for trading. As Hong Kong no longer autonomous from China, this special status has been revoked.
Last year, Hong Kong was conditioned by the United States Secretary of State to continue adequate autonomy from China to maintain its exceptional status for trade and commerce. As Hong Kong no longer autonomous from China, the US Secretary of State has the right to revoke the special status of the country. To show solidarity with the general population of the country that is against the non-autonomy of the country, Mike Pompeo tweeted to indicate his solidarity with the people of Hong Kong.
Due to the revoking of the autonomy of Hong Kong, the United States will treat the country the same as they were treatment towards China. President Trump has accused the Chinese government of spreading coronavirus across the world. China was unable to control the rapid transmission of the COVID-19 pandemic along with concealing the outbreak from the rest of the world. The strained relationship of the United States with China will have dire consequences on the financial and trading of Hong Kong.
To show their criticism and displeasure for China, the United States has implemented the visa restrictions of numerous government officials from China. If to show their immense disapproval, the US could nix the special trading status of Hong Kong.
Impact of status invalidation on Hong Kong and China
As Hong Kong no longer autonomous from China, the country could lose billions of dollars worth of trading. The United States could also prevent other countries from investing in them in the upcoming future. Due to these consequences, it will directly affect mainland China, as the country, usually uses Hong Kong for its multiple transactions with multiple countries across the world. Several business companies in mainland China use Hong Kong for their overseas or regional bases.
Momentarily after the announcement by Mike Pompeo, the pro-democracy activist Joshua Wong contacted the leaders of Asia, Europe, and the United States, telling them to reconsider the decision of the cancellation of the exceptional status of Hong Kong if China imposes their security law on the country.
After Hong Kong no longer autonomous from China, the country would be obliged to follow the Chinese laws and guide for human rights protection. If the security law is implemented in Hong Kong, it would create tremendous damages towards export and venture capitalists. To protect the finance and trade of the country, maintenance of the autonomy of the country is required.
The security law, which is to be implemented in Hong Kong after the loss of autonomy of the country, would prohibit secession, treason, sedition, and subversion, which is essential to combat the increasingly violent demonstrations across the country.