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Zero Hedge — Wilbur Ross Says US Revokes Hong Kong’s Special Status

Summary:
Bites off nose to spite face. 😧The West needs favored access to Hong Kong much more than China. That did not used to be case, but the importance of Hong Kong to China has declined dramatically. The result of this will be the gradual decline of Hong Kong as a player and the rise of mainland Chinese trading and financial centers.More significantly, China has shut the door to easy access by foreign intelligence and political influencers.In the longer run, rupture from the West will be beneficial to Hong Kong, since most Hong Kongers' problems result from its colonial past that favors the remnant of that past. This is passing into history. Zero HedgeWilbur Ross Says US Revokes Hong Kong's Special Status Tyler Durden

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Bites off nose to spite face. 😧

The West needs favored access to Hong Kong much more than China. That did not used to be case, but the importance of Hong Kong to China has declined dramatically. The result of this will be the gradual decline of Hong Kong as a player and the rise of mainland Chinese trading and financial centers.

More significantly, China has shut the door to easy access by foreign intelligence and political influencers.

In the longer run, rupture from the West will be beneficial to Hong Kong, since most Hong Kongers' problems result from its colonial past that favors the remnant of that past. This is passing into history.


Zero Hedge
Wilbur Ross Says US Revokes Hong Kong's Special Status
Tyler Durden
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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