Can Hong Kong Survive As Asia s Financial Hub

Beijing has rushed to push through a new national security law in Hong Kong. Critics fear the legislation threatens civil liberties promised to the territory through July 1, 2047. The citys special status with the U. S. also appears to be under threat, as tensions escalate over Beijings move to tighten its grip. The central Chinese government passed a sweeping new security law for Hong Kong that took effect just hours before the 23rd anniversary of the citys handover from the U. K. to China on Wednesday. The National Security Law strengthens Beijings control on Hong Kong, a semiautonomous region with greater democratic freedoms and alignment with international business standards than the mainland. That special status has made Hong Kong an attractive hub for many international companies wanting to tap the Greater China market.