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Hong Kong braces for turmoil over new China law as stocks slide on risk of 'strong' Trump reaction

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China is poised to pass a national security law for Hong Kong that the city’s opposition lawmakers, analysts and U. S. officials say could plunge the…
China is poised to pass a national security law for Hong Kong that the city’s opposition lawmakers, analysts and U. S. officials say could plunge the semi-autonomous territory into its deepest turmoil since it returned to Chinese rule in 1997 and exacerbate already coronavirus-strained tensions between Washington and Beijing.
The draft law bans „treason, secession, sedition and subversion.“ It was submitted Friday at China’s National People’s Congress, an important annual political event where legislation already approved by China’s ruling Community Party is rubber-stamped.
Full details of the law have not been released. However, critics say it will curb freedoms and puts Hong Kong’s pro-democracy activists on a dangerous collision course with China’s central government in Beijing. Supporters and Chinese officials, such as Zhang Yesui, a spokesman for the National People’s Congress Foreign Affairs Committee, argue it is „highly necessary in light of new circumstances“ in Hong Kong.
The motion is fueling concern among activist lawmakers.
„It’s the saddest day in Hong Kong’s history,“ Tanya Chan, a Hong Kong pro-democracy legislature, speaking told reporters outside the city’s parliament.
„It’s the end of ‚one country, two systems,'“ said Dennis Kwok, another pro-democracy lawmaker, referring to the policy that has governed Hong Kong since it returned to Chinese control after a century and a half of British colonial rule.
„One country, two systems“ was intended to make sure that capitalist Hong Kong retained a measure of legal, economic and financial independence from socialist mainland China but the principle has come under intensifying pressure as Beijing has taken steps to bring the territory under full Chinese control. Hong Kong was rocked last year by almost six months of violent anti-China, pro-democracy protests as Beijing sought to tighten its grip on Hong Kong by imposing an extradition law to China.
Protest tech: Hong Kong protesters create VR simulation showing view from frontline
China has also evolved to have a more nuanced economic system that draws from its socialist roots but incorporates aspects of western-style commercialism.

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