President Trump’s senior security adviser has said that new rules from China that threaten Hong Kong’s autonomy may lead to US sanctions. He also said it could spell the end of Hong Kong’s role as Asia’s financial hub.
China’s proposed new legislation for Hong Kong could lead to new US sanctions and compromise the semi-autonomous city’s position as a financial hub, a top US official said Sunday.
The national security law, proposed by Beijing on Thursday, would ban sedition, secession and subversion against China. Pro-democracy activists in Hong Kong have publicly protested for increased liberty and freedom from Beijing rule for almost a year.
“It looks like with this national security law they’re going to basically take over Hong Kong,” White House National Security Adviser Robert O’Brien told US broadcaster NBC’s TV show “Meet the Press.”
“And if they do, Secretary [of State Mike] Pompeo will likely be unable to certify that Hong Kong maintains a high degree of autonomy and if that happens there will be sanctions that will be imposed on Hong Kong and China,” he said.
Hong Kong’s status as financial hub under threat
O’Brien also joined other US officials in questioning the repercussions for China’s and Hong Kong’s economies.
“It’s hard to see how Hong Kong could remain the Asian financial center that it’s become if China takes over,” O’Brien said.
“One reason that they came to Hong Kong is because there was the rule of law, there was a free enterprise system, there was a capitalist system, there was democracy and local legislative elections,” the adviser continued. “If all those things go away, I’m not sure how the financial community can stay there.”