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Can China DESTROY the Hong Kong Financial Centre? - VisualPolitik EN
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December 23, 2020
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On 30 June 2020, everything changed in Hong Kong. On that day, the Chinese Communist Party ended the de facto policy known as "one country, two systems”. A model that has been in effect since 1997 when the former British colony came under Chinese sovereignty.
Since the new national security law was ratified on 30 June, the Xi Jinping government has unleashed a whole campaign of actions aimed at taking full control of Hong Kong, which entails a significant loss of civil rights such as freedom of speech and the right to demonstration. But the question we can ask ourselves is, how could all these events affect Hong Kong?
Let us not forget that this special autonomous region has become something like a bridge between two very different worlds: on the one hand the Western world and on the other the prosperous world of the new China. Hong Kong is the third largest financial center in the world, behind only New York and London. An important position achieved thanks to its particular status. However, everything is now changing and it is not clear how politics could affect the financial industry. And, take note, because China is much more dependent on Hong Kong than it appears at first glance.
In this video we tell you all the details about what is happening, the reasons why Hong Kong has become such an important financial enclave and the risks that have now come to the surface.
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