Tong added that any conceivable sanctions taken by the United States and its allies against Hong Kong’s economic growth was “unavoidable.”
Hong Kong may take the initiative to face these difficulties head-on, he said. The feeding is the proof of the dessert.
“All sides need time to digest that Hong Kong ’s ‘one country, two systems ’ ( governing principle ) operates well. ”
After fulfilling a requirement under the Basic Law, the city’s mini-constitution, which was shelved by widespread protests more than 20 years ago, all eyes are now on how Hong Kong is map its socioeconomic development path and maneuver its way around any possible reaction.
Politicians from the US have suggested a number of steps, including the revaluation of city business and travel advisories, the imposition of sanctions against more people, and the end of political privileges at the US’s Hong Kong financial trade offices.
Some were concerned about Hong Kong’s credit ratings being downgraded, and participation in international organizations might be harmed if Western forces saw the legislation as a more diminishing of the city’s independence under one country, two methods, according to a property developer who declined to be identified.
Consultant to the semi-official Foreign Association of Hong Kong and Macau Studies think tank Lu Siu-kai anticipated implications and slander activities.
However, he like other economists predicted that they would probably be “less destructive ” than the ones that were observed four years ago after Beijing imposed a protection legislation on the town.
“The ( Beijing-imposed law )– which drew bigger surprises and carried heavier penalties than Article 23 – resulted in sanctions on officials, ” Lau said. I do n’t anticipate the coming US effects exceeding that severity. ”
Lau argued that adding a piece of national security policy to the 2020 legislation did not destroy the city’s international collaborations.
He said businesses had already “digested ” the city authorities ’ emphasis on national security.
Lau added that they were likely to remain embedded in the area as long as their interests aligned with the mainland Chinese market. Another experts agreed and claimed that the Beijing-imposed laws had “baked in” the notion of national security.
However, he advised the authorities to do more to combat smear campaigns and dispel any miscommunications within the global community to ensure that Hong Kong remained appealing to investors.
Lawmaker Martin Liao Cheung-kong, the president of the expenses committee, was contacted by the Post about possible punishment from the West or a downgraded travel advice for the town. He said the town would deal with any issues.
“ Whatever will come will come, ” he added. “This is certainly my attention. ”