by 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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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.
Wilbur Ross Says US Revokes Hong Kong's Special Status
Tyler Durden