The central government of the People’s Republic of China (PRC) has imposed sweeping new national security legislation on Hong Kong, which carries a maximum sentence of life imprisonment for the crimes of secession, subversion of state power, terrorism, and “collusion” with foreign forces to jeopardize state security. The “Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region” (中华人民共和国香港特别行政区维护国家安全法, Zhonghua Renmin Gongheguo Xianggang Tebie Xingzhengqu Weihu Guojia Anquan Fa) was unanimously passed by the Standing Committee of the National People’s Congress (NPC), China’s parliament, on June 30 (NPC, June 30).
The government has been protecting employers against the Covid-19 fallout, but it should help the unemployed and underemployed too. One way is to offer unemployment insurance, as other advanced economies are doing
Following months of protests, Hongkongers have forged a fragile unity during the coronavirus pandemic. The city simply cannot afford more protests and disunity, when it still needs to keep case numbers down and revive the economy
Covid-19 has upended school, work, travel and social life, opening up new possibilities and exposing structural vulnerabilities. We should build on these experiences to improve our way of life
Author: Ngai Ming Yip, City University of Hong Kong
In order to understand the mounting tensions in both Taiwan and Hong Kong over their relationships with mainland China, one must abandon the usual time frames of weeks, months or at most a handful of years and instead imagine the scenarios that open up over decades—five decades, to be precise. Over the next 50 years, interlocking dreams and nightmares will hang even more heavily over Taiwan, which Beijing considers a breakaway province, and Hong Kong, over which Beijing wants to assert more direct control, with possibly tragic outcomes.
To protect their own futures, the people of Hong Kong must reflect carefully on the need to end violent protests and work together to address genuine grievances. The alternative is not some fantasy of an independent and thriving Hong Kong. It is a devastated economy, a divided society, and a lost generation.
Andrew Sheng, Distinguished Fellow of the Asia Global Institute at the University of Hong Kong and a member of the UNEP Advisory Council on Sustainable Finance, is a former chairman of the Hong Kong Securities and Futures Commission. His latest book is From Asian to Global Financial Crisis.
Xiao Geng, President of the Hong Kong Institution for International Finance, is a professor and Director of the Research Institute of Maritime Silk-Road at Peking University HSBC Business School.
In 2017, Chinese President Xi Jinping declared that by the time the People’s Republic celebrates its centenary in 2049, it should be a “great modern socialist country” with an advanced economy. But following through with planned measures to tighten mainland China’s grip on Hong Kong would make achieving that goal all but impossible.
Minxin Pei is a professor of government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States.
Beneath the recent unrest in the Hong Kong Special Administrative Region lie concerns about capital outflows. A private banking source in Hong Kong said that the super-rich have begun to shift their assets elsewhere, including to Singapore, the Straits Times reported.
By Hu Weijia