How the U.S. Could Really Hurt China: Scrapping the privileges the U.S. affords Hong Kong would downgrade the city’s economic role, but a broader basket of financial sanctions could be even more painful for China

Scrapping the privileges the U.S. affords Hong Kong would downgrade the city’s economic role, but a broader basket of financial sanctions could be even more painful for China

The U.S. determination that Hong Kong is no longer autonomous from mainland China has significant implications for the city’s exporters and businesses. But that could pale in comparison to further action by the U.S. to use its dominant position in the global banking system against Beijing.

The most immediate threat is the possible end of the city’s special status as separate from mainland China for import and export purposes under the Hong Kong Policy Act of 1992. Sensitive U.S. technologies could no longer be imported into…

www.wsj.com/articles/the-end-of-hong-kongs-special-status-threatens-chinas-grand-financial-ambitions-11590651979