US PREZ WARNS ACTION AGAINST CHINA OVER HONG KONG ROW
President Donald Trump has said he would strip several of Hong Kong’s special privileges with the US and bar some Chinese students from US universities in anger over Beijing’s bid to exert control in the financial hub.
In a day of concerted action, the US and UK also raised alarm at the UN Security Council over a controversial new security law for Hong Kong, infuriating Beijing which said the issue had no place at the world body.
Trump on Friday attacked China over its treatment of the former British colony, saying it was “diminishing the city’s longstanding and proud status.”
“This is a tragedy for the people of Hong Kong, the people of China and indeed the people of the world,” Trump said. Trump said the US would begin a process to revoke Hong Kong’s preferential trade status under US law. American financial regulators would examine Chinese firms listed on US stock markets with an eye toward limiting American investment in the companies, he said, and Chinese nationals considered to be security threats would be denied entry to the country.
But few of Trump’s actions will take place immediately, and US financial markets were untroubled by his announcement.
The mouthpiece of China’s ruling Communist Party said US moves to end some trading privileges for Hong Kong “grossly interfere” in China’s internal affairs and are “doomed to fail”.
Saturday’s editorial in the newspaper People’s Daily said it was the “firm determination of all Chinese people” to oppose interference in Hong Kong affairs by any external forces.