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China moves to impose controversial Hong Kong security law

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richfool
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China moves to impose controversial Hong Kong security law

#310873

Postby richfool » May 22nd, 2020, 9:06 am

China's ruling Communist Party has set in motion a controversial national security law for Hong Kong, a move seen as a major blow to the city's freedoms.

The law to ban "treason, secession, sedition and subversion" could bypass Hong Kong's lawmakers.

Critics say China is breaking its promise to allow Hong Kong freedoms not seen elsewhere China.

It is likely to fuel public anger and may even trigger fresh protests and demands for democratic reform.


This along with Trump's hardening of attitude about Covid 19 and trade with China, is deeply concerning and is not going to help stability in Hong Kong stock markets, nor China, particularly if other countries like the UK eventually get round to taking trade sanctions of one sort or another. Huawei springs to mind.

Yesterday I reduced my stock market exposure to China and Hong Kong.

https://www.bbc.co.uk/news/world-asia-china-52762291

https://www.bbc.co.uk/news/av/uk-527639 ... outrageous

odysseus2000
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Re: China moves to impose controversial Hong Kong security law

#311035

Postby odysseus2000 » May 22nd, 2020, 2:02 pm

richfool wrote:
China's ruling Communist Party has set in motion a controversial national security law for Hong Kong, a move seen as a major blow to the city's freedoms.

The law to ban "treason, secession, sedition and subversion" could bypass Hong Kong's lawmakers.

Critics say China is breaking its promise to allow Hong Kong freedoms not seen elsewhere China.

It is likely to fuel public anger and may even trigger fresh protests and demands for democratic reform.


This along with Trump's hardening of attitude about Covid 19 and trade with China, is deeply concerning and is not going to help stability in Hong Kong stock markets, nor China, particularly if other countries like the UK eventually get round to taking trade sanctions of one sort or another. Huawei springs to mind.

Yesterday I reduced my stock market exposure to China and Hong Kong.

https://www.bbc.co.uk/news/world-asia-china-52762291

https://www.bbc.co.uk/news/av/uk-527639 ... outrageous


No idea how serious Trump is with this, but if he starts forbidding any trade with China there are going to be many business that are in trouble. E.g. most electronic makers (Apple metal) most car makers,.. This would almost certainly cause selling in US index.

The big beneficiary if any thing serious happens with China is likely India. Apple e.g. are now producing iPhones in India.

Regards,

richfool
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Re: China moves to impose controversial Hong Kong security law

#311333

Postby richfool » May 23rd, 2020, 10:33 am

odysseus2000 wrote:
richfool wrote:
China's ruling Communist Party has set in motion a controversial national security law for Hong Kong, a move seen as a major blow to the city's freedoms.

The law to ban "treason, secession, sedition and subversion" could bypass Hong Kong's lawmakers.

Critics say China is breaking its promise to allow Hong Kong freedoms not seen elsewhere China.

It is likely to fuel public anger and may even trigger fresh protests and demands for democratic reform.


This along with Trump's hardening of attitude about Covid 19 and trade with China, is deeply concerning and is not going to help stability in Hong Kong stock markets, nor China, particularly if other countries like the UK eventually get round to taking trade sanctions of one sort or another. Huawei springs to mind.

Yesterday I reduced my stock market exposure to China and Hong Kong.

https://www.bbc.co.uk/news/world-asia-china-52762291

https://www.bbc.co.uk/news/av/uk-527639 ... outrageous



No idea how serious Trump is with this, but if he starts forbidding any trade with China there are going to be many business that are in trouble. E.g. most electronic makers (Apple metal) most car makers,.. This would almost certainly cause selling in US index.

The big beneficiary if any thing serious happens with China is likely India. Apple e.g. are now producing iPhones in India.

Regards,


It looks like Boris is going to initiate some action:
Boris Johnson to reduce Huawei’s role in Britain’s 5G network in the wake of coronavirus outbreak

The Prime Minister has instructed officials to draw up plans that would see China’s involvement in the UK's 5G network reduced to zero

https://www.telegraph.co.uk/politics/20 ... ronavirus/


Dod101
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Re: China moves to impose controversial Hong Kong security law

#314805

Postby Dod101 » June 3rd, 2020, 1:39 pm

I am very interested to see in the Times this morning that Boris is offering an extended visa to Hongkongers who hold the BN(O) passport or who are eligible for one, up to 3 million people apparently. This could eventually lead to citizenship and permanent residence in the UK. Obviously this will enrage Beijing but I think is a good move. It will almost certainly not result in a great stampede to the UK, because this is the last place HK Chinese want to come to. Their preference is, or at least was when I last had first hand experience of it, the US, Canada and Australia, in that order. Pre 1997, the UK handed full citizenship including passports to a select number of HK Chinese but very few of them ever took it up and most with the means sent wives off to Canada or Australia to get a passport there and then the husband was able to get one as well.

Investmentwise, HSBC had better I think cosy up to the Chinese and move their domicile back to HK, obviously getting assurances from the Chinese first. I do not see that they will have a great future in HK and mainland China as a UK based bank especially with Boris's offer. I should imagine that talks are probably in progress now or at the very least being planned.

Dod

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Re: China moves to impose controversial Hong Kong security law

#314860

Postby odysseus2000 » June 3rd, 2020, 5:18 pm

Dod101 wrote:I am very interested to see in the Times this morning that Boris is offering an extended visa to Hongkongers who hold the BN(O) passport or who are eligible for one, up to 3 million people apparently. This could eventually lead to citizenship and permanent residence in the UK. Obviously this will enrage Beijing but I think is a good move. It will almost certainly not result in a great stampede to the UK, because this is the last place HK Chinese want to come to. Their preference is, or at least was when I last had first hand experience of it, the US, Canada and Australia, in that order. Pre 1997, the UK handed full citizenship including passports to a select number of HK Chinese but very few of them ever took it up and most with the means sent wives off to Canada or Australia to get a passport there and then the husband was able to get one as well.

Investmentwise, HSBC had better I think cosy up to the Chinese and move their domicile back to HK, obviously getting assurances from the Chinese first. I do not see that they will have a great future in HK and mainland China as a UK based bank especially with Boris's offer. I should imagine that talks are probably in progress now or at the very least being planned.

Dod


China might be happy to see lots of potential trouble makers leave. The backstop for the HK folk of residency in the uk might be enough to convince some of them to leave. Once they have got a UK passport, going to another country is a lot easier.

Regards,

Dod101
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Re: China moves to impose controversial Hong Kong security law

#314862

Postby Dod101 » June 3rd, 2020, 5:30 pm

odysseus2000 wrote:China might be happy to see lots of potential trouble makers leave. The backstop for the HK folk of residency in the uk might be enough to convince some of them to leave. Once they have got a UK passport, going to another country is a lot easier.

Regards,


What you call the troublemakers will not mostly qualify for a BN(O) passport because it is only available to those born pre 1997 as far as I know. Some of course will be older and may qualify. In fact what is happening was quite predictable because the demonstrators never had any hope of gaining democracy far less independence. It will though be interesting to see how things develop. I still have both European and Chinese friends living in HK but they seem loathe to say very much.

Dod

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Re: China moves to impose controversial Hong Kong security law

#315061

Postby Dod101 » June 4th, 2020, 10:33 am

I see that both HBC and Standard Chartered are reported to have supported the Chinese move to impose the new security law. A pragmatic approach for self preservation no doubt. That will have infuriated the British Government no doubt. happy days!

Dod


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