Egyptian pound closes high vs. US dollar on Wednesday    Sisi commissions panel to investigate Ramsis Telephone Exchange fire – PM    Australia's c. bank keeps cash rate steady    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    Egypt, Pakistan boost healthcare ties – Cabinet    Egyptian authorities race to contain fallout from fatal telecom fire    Escalation in Gaza as ceasefire talks remain fragile amid mounting humanitarian crisis    Egypt's electricity, public enterprises ministers discuss expanding renewables in energy-intensive industries    UK, Egypt strengthen cooperation on green transition, eco-tourism, and environmental investments    CPME shareholders approve EGP 2.8bn acquisition of Qardy, Catalyst Partners Holding    Egypt, Somalia leaders discuss strategic partnership, counterterrorism in New Alamein    Egypt, UNDP discuss expanded cooperation on medical waste management, human development    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Egypt, Norway hold informal talks ahead of global plastic treaty negotiations    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt's FM, China's Wang discuss Iran-Israel escalation    Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



China legislation on Hong Kong could lead to US sanctions: White House
Published in Ahram Online on 24 - 05 - 2020

China's proposed national security legislation for Hong Kong could lead to US sanctions and threaten the city's status as a financial hub, White House National Security Adviser Robert O'Brien said on Sunday.
"It looks like, with this national security law, they're going to basically take over Hong Kong," O'Brien said on NBC's "Meet the Press."
"And if they do ... Secretary (of State Mike) Pompeo will likely be unable to certify that Hong Kong maintains a high degree of autonomy and if that happens there will be sanctions that will be imposed on Hong Kong and China," he said.
US government officials have said the legislation would end the Chinese-ruled city's autonomy and would be bad for both Hong Kong's and China's economies. They said it could jeopardise the territory's special status in US law, which has helped it maintain its position as a global financial center.
"It's hard to see how Hong Kong could remain the Asian financial center that it's become if China takes over," O'Brien said. Global corporations would have no reason to remain, he said.
"One reason that they came to Hong Kong is because there was the rule of law, there was a free enterprise system, there was a capitalist system, there was democracy and local legislative elections," O'Brien said. "If all those things go away, I'm not sure how the financial community can stay there."


Clic here to read the story from its source.