Asia to gain from HK law

Given the crisis, many expected that the U.S. will help rebuild the global economy in every way it can; instead, it is creating obstacles with threats of sanctions against Hong Kong

The proposed National Security Law for Hong Kong is expected to benefit not only the autonomous Chinese city but also its neighboring countries as the measure seeks to ensure the status of the key investment center in Asia is maintained.

At this point, United States continues to insist on putting domestic politics above economic considerations in its foreign relations positions. Given the crisis, many expected that the US will help rebuild the global economy in every way it can; instead, it is creating obstacles with threats of sanctions against Hong Kong.

State analysts noted that Hong Kong is vital not only for world trade but especially for the Philippines where more than 200,000 Filipinos domestics are employed and remit hundreds of millions of dollars back home to feed their families and school their children.

Hong Kong is also a key consumer of Philippines goods, buying up to $9.97-billion last year in 2019.

Human freedom alive

US President Donald Trump and anti-China elements alleged the proposed National Security Law for Hong Kong is aimed at killing human rights and democracy in Hong Kong but no less than Fraser Institute, the libertarian thinktank based in Vancouver, Canada, has consistently ranked Hong Kong among top nations in its Human Freedom Index.

Hong Kong has indeed suffered violent protests, including arson, manslaughter and other crimes, as a result of the so-called prodemocracy protests that have become more violent recently.

China has reiterated its intention for the National Security Law for Hong Kong, that will prevent political interference from external elements in Hong Kong’s affairs; criminalize acts that threaten national security, such as subversion and secession; and allow the Central People’s Government to establish a national security agency in Hong Kong.

Officials noted that every country has these basic security safeguards in their laws.

Preserving global leadership

Analysts said China and the HKSAR do not have any intention of disrupting the business environment and instigate “hurting the goose that lays the golden eggs for every country”.

Until the foreign-inspired, -encouraged and-funded so-called pro-democracy movement started acting up, the strategy that had led up to the turnover of Hong Kong back to China in 1997 and the past two decades up to now have worked very well for business.

Trump’s “sanctions” are seen by many as mere gestures to appease the hawks among his ranks while responding to election campaign exigencies where he is running behind rival Joe Biden. But America will be biting off more than it can chew if Trump is to go beyond bluster and take real action. This will do the U.S. more harm than it will China and Hong Kong, analysts noted.