Hong Kong
Many news articles focus on free and fair trade. Hong Kong, which despite being a part of China, has long operated as an independent country, is under consideration here. The long dependence China has on Hong Kong comes from Hong Kong’s overwhelming personal and capitalism freedoms, both from the mainland and absent, therefore, this has made it the world’s premier other than in financial hubs.
Currently, China is carrying out what no country or no one thought it would do. It has started to impose its will on Hong Kong in ways that could result in political and economic damage for the former British colony. For decades, these two have grown together. However, the Chinese Communist Party has pushed for a new law on national security that many individuals fear will reduce or cut Hong Kong’s liberties. Notably, parties such as Chinese Community Party calculate, control, and stability and if they outweigh the city’s benefits.
The Issue
The main problem with this is that other nations have threatened to retaliate in ways that could cripple Hong Kong, leaving it to only reflect its former self. Due to China’s will imposition in China, the United States has in turn, vowed to stop granting Hong Kong special economic treatment. Besides, Britain has announced it could facilitate the migration of three million Hong Kong people in the nation. Therefore, China’s actions has resulted in the possible severe brain drain in Hong Kong.
Nonetheless, Beijing perceives it is in a strong position amidst world division and national recoveries from the COVID-19 pandemic. However, critics believe the United States will only harm itself more through pushing and pressing Hong Kong. Moreover, this issue has demoralized Hong Kong’s protest movement.
Reasons China and Hong Kong’s Issue is Significant to the Global Community
Critics from the Communist Party believe the world needs China and thus, will continue operating with or without Hong Kong. Contrastingly, the global business community has not spoken about this issue because many believe that even if countries protested China’s undertakings, business will still return to China, even if the people and countries protest it. Additionally, this issue is important to the international community because of political judgments based on far empirical pieces of evidence that issues and concerns will not arise.
Over the years, Hong Kong’s importance to China continues to decrease, especially because of the mainland’s economic surge. Top leaders in China had allowed Hong Kong to run its businesses and experience individual freedoms for years because of lack of other possible solutions. Currently, it barely makes more than 3 percent of the mainland’s economy. Despite investors valuing Hong Kong for its transparent business environment, low taxes, and rule of law, more investors have become more used to operating businesses in Shanghai, a mainland city whose stock market surpasses the value Hong Kong makes.
Nonetheless, Washington still believes in Hong Kong’s value and does not want China to destroy it. Hence, President Trump decided to remove the special status Hong Kong had received from Washington. Additionally, he decided to subject it to similar trade restrictions and tariffs China imposes on the mainland. Critics believe the United States can increase the stakes sharply, if it could control one of the primary strengths it has, which is its critical role over the international financial system.
Evaluate the source
The source is dependable and credible. The reason behind this is that the text is published in the reputable The New York Times, which shows it provides trustworthy information. Also, the author is a credible writer with The New York Times. Therefore, the information the text offers is based on factual and real events.
Personal Opinion
I believe China does not need to impose similar tariffs and trade restrictions it places on the mainland because Hong Kong operates as an independent country. Top leaders from both sides need to discuss issues and find a viable solution. Finally, Hong Kong needs to reassert its position and strength to prevent China’s actions from affecting it negatively.