HK - Economic Data & News 04 (Jan 17 - Dec 20)

Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Wed May 20, 2020 4:57 pm

Hong Kong pro-establishment lawmaker elected committee chair after scuffles at Legislative Council
https://www.youtube.com/watch?v=CwKF7JA8Vd8
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Fri May 22, 2020 12:21 pm

Two Sessions 2020: Beijing ‘out of patience’ after long wait for Hong Kong national security law, plans to proscribe secession, foreign interference and terrorism in city
https://www.scmp.com/news/hong-kong/pol ... article-23


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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby winston » Sat May 23, 2020 5:12 pm

How ending Hong Kong's 'special status' could affect US companies

As of 2018, the stock of US foreign direct investment in Hong Kong stood at US$82.5 billion (S$116.8 billion), an increase of US$1.2 billion that year, according to US Commerce Department data.

Hong Kong's investment in the United States rose US$3.5 billion in 2018 to US$16.9 billion.

Some US$67 billion in annual Hong Kong-US trade of goods and services could be put at risk as Hong Kong would lose its preferential lower US tariff rate.

Hong Kong has a zero tariff rate on imports of US goods, which also could be at risk.

Hong Kong was the source of the largest bilateral US goods trade surplus last year, at US$26.1 billion, based on US Census Bureau data.

According to Hong Kong's Trade and Industry Department, the former British colony in 2018 was the United States' third-largest export market for wine, its fourth-largest for beef and seventh-largest for all agricultural products.


Source: Reuters

https://www.straitstimes.com/asia/east- ... -companies
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Sun May 24, 2020 5:46 pm

2020.05.23【文茜世界周報】大陸兩會召開 突襲式香港國安立法引爆爭議
https://www.youtube.com/watch?v=5g1DDQdzs1Q
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby winston » Mon May 25, 2020 7:51 am

HK must brace for inevitable impact

by Andrew Wong

Last week, I spoke about how China's rapid development over the past few decades has not only brought labor and productivity to the world but also a huge consumer market due to the increase in per capita income.

So why does the world still not look at China the way Beijing expects it to?

In the United States, American antipathy towards China is rising, according to a poll, and this sentiment is not limited to America as the same situation exists in Canada, Japan, Korea, Australia and other nations.

And though German support for China has risen since the outbreak began to 36 percent - up from 24 percent six months go - it is still lower than the 37 percent of Germans who prioritize ties with America.

At the same time a public poll shows that 77 percent of Germans believe that China is responsible for the global outbreak.

So even if Beijing continues to herald that it has done its best to control the pandemic, it seems the rest of the world does not believe China.

China should now consider how to increase its soft power internationally.

However, Beijing's announcement that it will implement a National Security Law in Hong Kong at this time, will inevitably arouse global doubts and bring fresh risks to the country.

Now, let me be clear: the key point of this article is not whether the National Security Law should be implemented or not. No matter what different parties may think, this law is a necessity and there's no room for discussion on this point.

But how do we reassure the world that the implementation of this law will not affect the "One country, two systems" in Hong Kong, especially since western countries feel more negative than positive about the law.

At the same time, we must be aware that it is not just Hong Kong's status as an international financial center that is in jeopardy, as more importantly, China's economy will also be greatly affected.

In fact, according to official statistics, between January and April last year, China's actual use of foreign capital was US$45.14 billion, with 69 percent or US$31.06 billion coming from Hong Kong - which means a lot of foreign capital flowed into China through Hong Kong.

The biggest reason, however, is there are differences between the systems of the Hong Kong and China, including the use of common law in Hong Kong as well as Hong Kong dollar as the international currency.

But if global investors believe there is no difference between Hong Kong and China, they might not just give up on Hong Kong and invest in the Chinese market - there's a greater chance they might give up on investing in China totally because if they thought there was a way they could directly invest in China, then why did nearly 70 percent of foreign investment into China go through Hong Kong in the past?

Therefore, we must be prepared. The implementation of the National Security Law in Hong Kong will not only have an impact on Hong Kong but also may bring negative factors to the Chinese economy.

So, why is the international community being so distrustful of the National Security Law and reacting so negatively over the past few days?

Well, this is because China's soft power is not enough. In international politics, soft power is described as the ability to attract and choose rather than coerce, through culture, political values and foreign policy. Next week, let's look at which part China needs to work on.

Source: The Standard

https://www.thestandard.com.hk/section- ... ble-impact
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby winston » Mon May 25, 2020 7:51 am

HK must brace for inevitable impact

by Andrew Wong

Last week, I spoke about how China's rapid development over the past few decades has not only brought labor and productivity to the world but also a huge consumer market due to the increase in per capita income.

So why does the world still not look at China the way Beijing expects it to?

In the United States, American antipathy towards China is rising, according to a poll, and this sentiment is not limited to America as the same situation exists in Canada, Japan, Korea, Australia and other nations.

And though German support for China has risen since the outbreak began to 36 percent - up from 24 percent six months go - it is still lower than the 37 percent of Germans who prioritize ties with America.

At the same time a public poll shows that 77 percent of Germans believe that China is responsible for the global outbreak.

So even if Beijing continues to herald that it has done its best to control the pandemic, it seems the rest of the world does not believe China.

China should now consider how to increase its soft power internationally.

However, Beijing's announcement that it will implement a National Security Law in Hong Kong at this time, will inevitably arouse global doubts and bring fresh risks to the country.

Now, let me be clear: the key point of this article is not whether the National Security Law should be implemented or not. No matter what different parties may think, this law is a necessity and there's no room for discussion on this point.

But how do we reassure the world that the implementation of this law will not affect the "One country, two systems" in Hong Kong, especially since western countries feel more negative than positive about the law.

At the same time, we must be aware that it is not just Hong Kong's status as an international financial center that is in jeopardy, as more importantly, China's economy will also be greatly affected.

In fact, according to official statistics, between January and April last year, China's actual use of foreign capital was US$45.14 billion, with 69 percent or US$31.06 billion coming from Hong Kong - which means a lot of foreign capital flowed into China through Hong Kong.

The biggest reason, however, is there are differences between the systems of the Hong Kong and China, including the use of common law in Hong Kong as well as Hong Kong dollar as the international currency.

But if global investors believe there is no difference between Hong Kong and China, they might not just give up on Hong Kong and invest in the Chinese market - there's a greater chance they might give up on investing in China totally because if they thought there was a way they could directly invest in China, then why did nearly 70 percent of foreign investment into China go through Hong Kong in the past?

Therefore, we must be prepared. The implementation of the National Security Law in Hong Kong will not only have an impact on Hong Kong but also may bring negative factors to the Chinese economy.

So, why is the international community being so distrustful of the National Security Law and reacting so negatively over the past few days?

Well, this is because China's soft power is not enough. In international politics, soft power is described as the ability to attract and choose rather than coerce, through culture, political values and foreign policy. Next week, let's look at which part China needs to work on.

Source: The Standard

https://www.thestandard.com.hk/section- ... ble-impact
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Mon May 25, 2020 11:27 am

Tear gas fired as thousands protest Beijing’s planned national security law for Hong Kong
https://m.youtube.com/watch?v=D0Rl9MsM2Ck
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Wed May 27, 2020 5:03 pm

Hong Kong souvenir sellers at Stanley Market, Temple Street Night Market, report ‘zero sales’ as tourism dies
https://www.scmp.com/lifestyle/travel-l ... nder-where


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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Thu May 28, 2020 1:45 pm

Hong Kong is no longer autonomous from China, US determines
https://m.youtube.com/watch?v=TiiqKeApTdY
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Re: HK - Economic Data & News 04 (Jan 17 - Dec 20)

Postby behappyalways » Fri May 29, 2020 4:07 pm

China’s top legislature approves national security bill for Hong Kong
https://www.youtube.com/watch?v=p-gFyoBTe2w


Hongkongers with BN(O) passports could be eligible for UK citizenship if China imposes security law
https://www.youtube.com/watch?v=xp9pzluPU_s
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