Hong Kong losing „special status” with US. Much ado about nothing.

[Marcin2 + 726]

Hong Kong losing „special status” in relations with US is a thing of minor importance for the city’s economy.

Only 7.7% of Hong Kong exports goes to US, and US is a source of 5.2% of Hong Kong imports.

Hong Kong is one of Asian financial  capitals engaged in Asian business, and to be precise Chinese business in Asia.

Maybe I am ignorant but I read an analysis written by Hong Kong resident. Summary is : it would have impact but not significant.

US cannot do anything important to harm Hong Kong economy, the economy that is totally dependent on co-operation with Mainland.

If I miss something I encourage INFORMED comments.
(((I think we already know all about political beliefs of all pro- and anti- China commenters at this forum and do not need any repeat.)))

Comments:

 How change of Hong Kong status vs US would affect Hong Kong:

- @BLA: change of status would cause capital flight ( and it is already happening),

 

Edited June 9, 2020 by Marcin2
Add info from commenters

[notsonice + 1,266]

14 minutes ago, Marcin2 said:

Hong Kong losing „special status” in relations with US is a thing of minor importance for the city’s economy.

Only 7.7% of Hong Kong exports goes to US, and US is a source of 5.2% of Hong Kong imports.

Hong Kong is one of Asian financial  capitals engaged in Asian business, and to be precise Chinese business in Asia.

Maybe I am ignorant but I read an analysis written by Hong Kong resident. Summary is : it would have impact but not significant.

US cannot do anything important to harm Hong Kong economy, the economy that is totally dependent on co-operation with Mainland.

If I miss something I encourage INFORMED comments.
(((I think we already know all about political beliefs of all pro- and anti- China commenters at this forum and do not need any repeat.)))

 

Taking away the special status just speeds up the  the transition of Hong Kong to mainland China rules. Diminishing Hong Kongs special status only hurts the residents. Surely the US could of found a better way to helping those in Hong Kong

[BLA + 1,666]

On 6/9/2020 at 11:28 AM, Marcin2 said:

Hong Kong losing „special status” in relations with US is a thing of minor importance for the city’s economy.

 

LOL

It doesn't hurt.  You know that is not true. 

The change in status hurts China .  .  .  which will hurt Hong Kong.

You fail to understand Hong Kong's importance as it relates to China's access to Capital and Financial markets around the world.  You say that doesn't matter ?  It does.  It changes the entirety of the "risk" factor when either doing business with China and more important as manufacturing in China.

China is showing it true nature.  It shows it can renege on a commitment with Hong Kong . . . . it can do the same to any company , any country , any agreement. 

Dropping Hong Kong special status is just the first step in U.S. decoupling it's economy from China's economy.

Keep telling yourself that it doesn't hurt CCP economy.  LOL.

IF China doesn't want to join the nation's of the world and play fair it's their loss.

Communist Secretary General Xi has until September to make a course correction.  If not good riddance. 

If China wants to gamble on a Biden win so be it.  Big gamble. Big Risk.

Xi will not be in a strong negotiating position with a second term Trump presidency unencumbered with reelection considerations. 

Hong Residents started moving capital out of Hong Kong during the protests

https://www.wsj.com/articles/worried-hong-kong-residents-are-moving-money-out-as-protests-escalate-11566120603 

THIS CAPITAL FLIGHT WILL ACCELERATE IN THE COMING MONTHS UNLESS CCP SECRETARY GENERAL Xi COMES TO HIS SENSES.

 

UPDATE: ADDED JUNE 11TH

 

* Did China blink ?

* Does China need U.S. ?

* Is China worried about Hong Kong losing "Special Status" ? (Answer: YES ! YES ! YES !)

* Is China trying to repair their disregard for  fair trade or reneging agreements  ? 

China will most likely threaten to cancel trade agreement , if U.S. cancels Hong Kong "Special Status".

Trump will not cave, he'll call their bluff. 

Quote:

(June 11th)  "Former Chinese finance minister and Cabinet adviser Zhu Guangyao said on Thursday evening that relations between the U.S. and China were “far from satisfactory” and that the two countries should “waste no time” improving them, according to the Associated Press.

“Objectively speaking, the epidemic has had an impact on the implementation of this agreement, but in this kind of situation, China emphasizes that we should work hard together to ensure the implementation of the Phase 1 agreement," he said."

 

There is a reason for everything Chinese authorities say or do. 

Edited June 12, 2020 by BLA

[BradleyPNW + 282]

The USA has hard power and soft power - as do all countries. Military and economic/state department coercion is hard power. Cultural draw is soft power. Some people mistakenly think all economic policy is soft power, however, anything coercive is not soft power. 

US exercise of hard power in this instance will have little impact on Hong Kong. Really, it's just the action of an American administration that has no clue how to operate. We have the bottom of the barrel working at the highest levels of the executive branch. In fact, it has gotten so bad that past officials who worked for the administration are publicly saying the current administration is incompetent. 

However, the ongoing Black Lives Matter protests are evidence of robust US soft power. Hong Kong protesters waving Americans flags is evidence of robust US soft power. China is helpless against US soft power. A smart administration, a Biden administration, would leverage soft power to influence Hong Kong and China by speaking in terms of compassion and fair-handedness -- something Donald is totally incapable of doing; Donald can't even fake that kind of language if you write it down and ask him to read it. 

[El Gato + 254]

2 hours ago, BradleyPNW said:

, a Biden administration, would leverage soft power to influence Hong Kong and China by speaking in terms of compassion and fair-handedness -- something Donald is totally incapable of doing; Donald can't even fake that kind of language if you write it down and ask him to read it. 

Yeah, Biden would take a Page out of the Clinton handbook and ask China how much money  would he get for "Access" to US tech and influence. That's soft power alright, just like Biden and Hunter did in Ukraine

[Bob D + 562]

2 hours ago, BradleyPNW said:

The USA has hard power and soft power - as do all countries. Military and economic/state department coercion is hard power. Cultural draw is soft power. Some people mistakenly think all economic policy is soft power, however, anything coercive is not soft power. 

US exercise of hard power in this instance will have little impact on Hong Kong. Really, it's just the action of an American administration that has no clue how to operate. We have the bottom of the barrel working at the highest levels of the executive branch. In fact, it has gotten so bad that past officials who worked for the administration are publicly saying the current administration is incompetent. 

However, the ongoing Black Lives Matter protests are evidence of robust US soft power. Hong Kong protesters waving Americans flags is evidence of robust US soft power. China is helpless against US soft power. A smart administration, a Biden administration, would leverage soft power to influence Hong Kong and China by speaking in terms of compassion and fair-handedness -- something Donald is totally incapable of doing; Donald can't even fake that kind of language if you write it down and ask him to read it. 

It actually looked like you had something of value to share with the community.  Paragraph one was informative and it actually looked like you were going to explain a theory of economic power.  But your Liberal mind devolved a promising start into insults and nonsense.  Admit it ... you're Antifa right??

 

But then Antifa Bradley took over an 

[BradleyPNW + 282]

2 minutes ago, El Gato said:

Yeah, Biden would take a Page out of the Clinton handbook and ask China how much money  would he get for "Access" to US tech and influence. That's soft power alright, just like Biden and Hunter did in Ukraine

Ok first, decades. Lets try to remain in this decade let alone this century. Second, Donald got impeached for trying to create a conspiracy theory about Hunter Biden by pressuring a foreign partner by improperly withholding aid. During Donald's trial in the senate the Republicans had the opportunity to prove wrongdoing on the part of Hunter Biden but they never presented evidence to make that case. 

What does that mean? It means Donald's impeachment on Article 1 was justified and appropriate: Donald abused his office in an attempt to smear a political opponent through his son. 

[El Gato + 254]

1 minute ago, BradleyPNW said:

Ok first, decades. Lets try to remain in this decade let alone this century. Second, Donald got impeached for trying to create a conspiracy theory about Hunter Biden by pressuring a foreign partner by improperly withholding aid. During Donald's trial in the senate the Republicans had the opportunity to prove wrongdoing on the part of Hunter Biden but they never presented evidence to make that case. 

What does that mean? It means Donald's impeachment on Article 1 was justified and appropriate: Donald abused his office in an attempt to smear a political opponent through his son. 

Like Hunter's Grandiose salary on Burisma's Board of Directors wasn't payment for Access through Biden. Hunter doesn't have a clue about the energy industry

[BradleyPNW + 282]

6 minutes ago, Bob D said:

It actually looked like you had something of value to share with the community.  Paragraph one was informative and it actually looked like you were going to explain a theory of economic power.  But your Liberal mind devolved a promising start into insults and nonsense.  Admit it ... you're Antifa right??

 

But then Antifa Bradley took over an 

Are you in need Antifa anxiety counseling? If so call 1-800-662-HELP (4357) https://www.samhsa.gov/find-help/national-helpline

[Bob D + 562]

No need.  I'm packing.  Antifa has an open invitation to Texas.

[BradleyPNW + 282]

Just now, El Gato said:

Like Hunter's Grandiose salary on Burisma's Board of Directors wasn't payment for Access through Biden. Hunter doesn't have a clue about the energy industry

Didn't Donald have a defense team with a national microphone who could have tried to make a corruption case in need of investigation? Yes, I believe he did. You should call Donald and ask him why he left you and your conspiracy theory hanging out in the cold like that. 

[Bob D + 562]

2 minutes ago, BradleyPNW said:

Didn't Donald have a defense team with a national microphone who could have tried to make a corruption case in need of investigation? Yes, I believe he did. You should call Donald and ask him why he left you and your conspiracy theory hanging out in the cold like that. 

It's the October surprise

[El Gato + 254]

2 minutes ago, BradleyPNW said:

Didn't Donald have a defense team with a national microphone who could have tried to make a corruption case in need of investigation? Yes, I believe he did. You should call Donald and ask him why he left you and your conspiracy theory hanging out in the cold like that. 

Well at least  you can't deny Ukrainians were using Biden for access, just like China would. Also last I heard Ukraine is investigating it, since well, it occurred in their country and they had a regime change

[BradleyPNW + 282]

1 minute ago, El Gato said:

Well at least  you can't deny Ukrainians were using Biden for access, just like China would. Also last I heard Ukraine is investigating it, since well, it occurred in their country and they had a regime change

Oops, you can put that conspiracy to bed now too. 

https://www.theguardian.com/us-news/2020/jun/04/ukranian-prosecutors-finds-no-evidence-against-hunter-biden

[BLA + 1,666]

54 minutes ago, BradleyPNW said:

Oops, you can put that conspiracy to bed now too. 

https://www.theguardian.com/us-news/2020/jun/04/ukranian-prosecutors-finds-no-evidence-against-hunter-biden

You have to look for it to find it.

 

[footeab@yahoo.com + 2,194]

7 hours ago, Marcin2 said:

Hong Kong losing „special status” in relations with US is a thing of minor importance for the city’s economy.

Only 7.7% of Hong Kong exports goes to US, and US is a source of 5.2% of Hong Kong imports.

Hong Kong is one of Asian financial  capitals engaged in Asian business, and to be precise Chinese business in Asia.

Maybe I am ignorant but I read an analysis written by Hong Kong resident. Summary is : it would have impact but not significant.

US cannot do anything important to harm Hong Kong economy, the economy that is totally dependent on co-operation with Mainland.

If I miss something I encourage INFORMED comments.
(((I think we already know all about political beliefs of all pro- and anti- China commenters at this forum and do not need any repeat.)))

Comments:

 How change of Hong Kong status vs US would affect Hong Kong:

- @BLA: change of status would cause capital flight ( and it is already happening),

 

While Honk Kong is not the product exporter it once was, it is still the importer/exporter of financial assets/commodities/trading.  IF HK loses its status, and therefore the HK dollar loses its status and pegging to USD, then foreign capital investment will effectively vanish as they had some safety via HK banks, but with mainland banks, you have zero.  In fact, the mainland banks are not even allowed in many cases to interact with the outside world, as this will lead to massive capital flight as it did when said restrictions were VERY briefly lifted several years ago. 

Eliminating HK special status also means that any foreign capital already invested IN China, is NOT coming back out, due, once again to the mainland Chinese banks not being allowed to export USD and absolutely NO ONE wants Yuan.  -->> Though this might change.  WHY?  Given the choice, Yuan, or nothing, most people will take Yuan and hope they can buy something in China ASAP and ship it out.  Good Luck. 

[El Gato + 254]

1 hour ago, BradleyPNW said:

Oops, you can put that conspiracy to bed now too. 

https://www.theguardian.com/us-news/2020/jun/04/ukranian-prosecutors-finds-no-evidence-against-hunter-biden

Yeah, but you still have the Bidens phone call to remove the prosecutor being worked on yet. Where there is smoke, there's fire!

https://www.theguardian.com/world/2020/may/20/ukraine-joe-biden-petro-poroshenko-recordings-investigation

[BradleyPNW + 282]

2 hours ago, El Gato said:

Yeah, but you still have the Bidens phone call to remove the prosecutor being worked on yet. Where there is smoke, there's fire!

https://www.theguardian.com/world/2020/may/20/ukraine-joe-biden-petro-poroshenko-recordings-investigation

Where there's smoke there's Donald tear-gassing Americans citizens. 

[ronwagn + 6,290]

8 hours ago, BradleyPNW said:

The USA has hard power and soft power - as do all countries. Military and economic/state department coercion is hard power. Cultural draw is soft power. Some people mistakenly think all economic policy is soft power, however, anything coercive is not soft power. 

US exercise of hard power in this instance will have little impact on Hong Kong. Really, it's just the action of an American administration that has no clue how to operate. We have the bottom of the barrel working at the highest levels of the executive branch. In fact, it has gotten so bad that past officials who worked for the administration are publicly saying the current administration is incompetent. 

However, the ongoing Black Lives Matter protests are evidence of robust US soft power. Hong Kong protesters waving Americans flags is evidence of robust US soft power. China is helpless against US soft power. A smart administration, a Biden administration, would leverage soft power to influence Hong Kong and China by speaking in terms of compassion and fair-handedness -- something Donald is totally incapable of doing; Donald can't even fake that kind of language if you write it down and ask him to read it. 

Biden and his son have sold out to the Chinese. His son was given a billion dollars to manage by the Chinese. He had no appropriate background. It is just like the millions he got from Ukraine to pretend to manage a natural gas company. Biden is demented and thus incompetent. He would be a puppet of progressives and China plus all globalists. It could happen. We will see. 

Please see my topic on Vetting Joe Biden https://docs.google.com/document/d/19dWQ1ucBsPQyj0WuVMfXmr6DTTeG8TwKbVuWE9_Rswg/edit

[Douglas Buckland + 6,308]

12 hours ago, Marcin2 said:

Hong Kong losing „special status” in relations with US is a thing of minor importance for the city’s economy.

Only 7.7% of Hong Kong exports goes to US, and US is a source of 5.2% of Hong Kong imports.

Hong Kong is one of Asian financial  capitals engaged in Asian business, and to be precise Chinese business in Asia.

Maybe I am ignorant but I read an analysis written by Hong Kong resident. Summary is : it would have impact but not significant.

US cannot do anything important to harm Hong Kong economy, the economy that is totally dependent on co-operation with Mainland.

If I miss something I encourage INFORMED comments.
(((I think we already know all about political beliefs of all pro- and anti- China commenters at this forum and do not need any repeat.)))

Comments:

 How change of Hong Kong status vs US would affect Hong Kong:

- @BLA: change of status would cause capital flight ( and it is already happening),

 

Marcin,

HK does not, and never has, survived on exports, everybody knows that.,Their economy is built on, and survives, on being a financial hub...full stop. China wanted that financial clout.

If HK loses it’s status in the financial arena, it will become a ghost town and China will promptly ignore it.

[ronwagn + 6,290]

6 hours ago, BradleyPNW said:

Ok first, decades. Lets try to remain in this decade let alone this century. Second, Donald got impeached for trying to create a conspiracy theory about Hunter Biden by pressuring a foreign partner by improperly withholding aid. During Donald's trial in the senate the Republicans had the opportunity to prove wrongdoing on the part of Hunter Biden but they never presented evidence to make that case. 

What does that mean? It means Donald's impeachment on Article 1 was justified and appropriate: Donald abused his office in an attempt to smear a political opponent through his son. 

The impeachment was a total sham that was a disgraceful act by the Democrats. The Bidens have history of monetary deals that benefit the family. 

The Democrats have worked hard, for four years, to get rid of President Trump. They now have the Chinese and possibly the Russians and other nations trying to help. The delay in COVID 19 information was part of the CCP attempt to harm the West.

The trade imbalance between China and America has been a thorn in our relations and have China's actions in the South Pacific. 

Prosecutions will start soon on some of the many illegal actions planned by Obama and many agents of his administration aimed at getting rid of him. 

The murder of George Floyd was heinous. The legal action by Minneapolis was too slow. Democrat run cities have atrocious records on handling crime and murders. Between Black LIves Matters and Antifa a heinous act of murder was turned into a cathartic mass of parades and rioting. The rioting and looting was not stopped and controlled. It was allowed to continue unabated. Many police officers were killed or harmed trying to control things without hurting anyone. Meanwhile many black on black shootings and killings occurred in Chicago and St. Louis etc. Now there are movements to defund and further rein in police departments.

All of the above actions play a role in the result of the next election. We will soon see how it all works out. The Presidency and control of the House and Senate are at stake. The American voters will decide what America will look like in the next four years. 

[ronwagn + 6,290]

6 hours ago, BradleyPNW said:

Didn't Donald have a defense team with a national microphone who could have tried to make a corruption case in need of investigation? Yes, I believe he did. You should call Donald and ask him why he left you and your conspiracy theory hanging out in the cold like that. 

It may come up during the election campaign. That and many other items. 

[Douglas Buckland + 6,308]

Anyone replying to @BradleyPNW is simply asking for a helical argument designed to wind you up. Why bother?

[frankfurter + 562]

13 hours ago, Marcin2 said:

Hong Kong losing „special status” in relations with US is a thing of minor importance for the city’s economy.

Only 7.7% of Hong Kong exports goes to US, and US is a source of 5.2% of Hong Kong imports.

Hong Kong is one of Asian financial  capitals engaged in Asian business, and to be precise Chinese business in Asia.

Maybe I am ignorant but I read an analysis written by Hong Kong resident. Summary is : it would have impact but not significant.

US cannot do anything important to harm Hong Kong economy, the economy that is totally dependent on co-operation with Mainland.

If I miss something I encourage INFORMED comments.
(((I think we already know all about political beliefs of all pro- and anti- China commenters at this forum and do not need any repeat.)))

Comments:

 How change of Hong Kong status vs US would affect Hong Kong:

- @BLA: change of status would cause capital flight ( and it is already happening),

 

Trump and BoJo are simply playing into China's hands, as the saying goes. 

[Dan Warnick + 6,100]

4 hours ago, ronwagn said:

Biden and his son have sold out to the Chinese. His son was given a billion dollars to manage by the Chinese. He had no appropriate background. It is just like the millions he got from Ukraine to pretend to manage a natural gas company. Biden is demented and thus incompetent. He would be a puppet of progressives and China plus all globalists. It could happen. We will see. 

Please see my topic on Vetting Joe Biden https://docs.google.com/document/d/19dWQ1ucBsPQyj0WuVMfXmr6DTTeG8TwKbVuWE9_Rswg/edit

I wonder if Joe would let me be his son for a few years.  If he gets elected, I'll try to convince him I'm that long lost son he wondered about back in the 60s.  He might buy it!