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'Biden’s Warning on Hong Kong'

The Wall Street Journal

Malcolm Riddell

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CHINADebate

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The Editorial Board | The Wall Street Journal

'Biden’s Warning on Hong Kong''Biden’s Warning on Hong Kong'
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BIG IDEA | ‘The pretense of Chinese and Hong Kong authorities is that their crackdown on the rule of law and dissent will have no effect on Hong Kong’s viability as an international center for trade and finance.’
‘The Biden advisory is a sober reminder how hollow and short-sighted this belief is. U.S. firms can’t say they weren’t warned.’

‘Neither China nor Hong Kong authorities have paid much of a price for their assault on the city’s autonomy.’

  • ‘That may be changing, as a pair of useful actions by the Biden Administration suggest.’

‘The U.S. sanctioned seven Chinese officials for their role in assaulting the freedom Beijing promised Hong Kong.’

  • ‘But the bigger news was the release of a business advisory highlighting the increased risks for American companies operating in today’s Hong Kong.

‘The advisory is a joint release by the State, Commerce, Homeland Security, and Treasury Departments.’

  • ‘It doesn’t forbid companies from doing business in Hong Kong.
  • ‘But it rightly warns that Beijing’s actions carry “potential reputational, financial, and, in certain instances, legal risks associated with their Hong Kong operations.” ’

‘The pretense of Chinese and Hong Kong authorities is that their crackdown on the rule of law and dissent will have no effect on Hong Kong’s viability as an international center for trade and finance.’

  • ‘The Biden advisory is a sober reminder how hollow and short-sighted this belief is. U.S. firms can’t say they weren’t warned.’
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THE BIG IDEAS