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Letters | Hong Kong justice chief did well to call out US on business risks advisory
- If anything, it is the deterioration of US-China relations that is creating problems for American businesses in Hong Kong
Secretary for Justice Teresa Cheng is right to call out the US government advice on the alleged increased risk of doing business in Hong Kong, as it reeks of hypocrisy (“The facts show Hong Kong remains a place for business to thrive”, July 22).
The American Chamber of Commerce in Hong Kong (AmCham) – which recently acquired its own office here instead of just renting, thus showing its intention to stay put – released in May the results of a poll which indicated that most American businesses did not intend to leave Hong Kong as they valued the excellent quality of life and superb business environment.
If anything, it is the deterioration of US-China relations that is creating problems for American businesses based in Hong Kong, of which there are the more than 1,300. As AmCham President Tara Joseph said, companies in the city are caught in the middle of antagonisms between the two powers.
Never mind the surveys, Hong Kong’s business future is bright
Never mind the surveys, Hong Kong’s business future is bright
Several leaders of American companies in the city have even raised their voices against the continuation by President Joe Biden of the confrontational approach started by Donald Trump.
Major US financial institutions including Citigroup, Morgan Stanley, BlackRock and Goldman Sachs have, since last year when the national security law was implemented, doubled down on their investments in China (including Hong Kong). They clearly see value ahead as these investments may take years to generate returns.
The US government advisory mentions that an American was arrested under the national security law – he has been released on bail pending further inquiries.
Meanwhile, Chinese citizen Meng Wanzhou has been under house arrest for 2½ years pursuant to an extradition request by the US in relation to alleged conduct relating to a company long targeted by the US government. I wonder if the rule of law only applies when it is applied by some jurisdictions.
You won’t get the truth about Hong Kong from biased media
You won’t get the truth about Hong Kong from biased media
I cannot understand how talking Hong Kong down can help the people the US government claims to be looking out for, the Hongkongers – that’s why I call deceit.
It is time those seeking to undermine Hong Kong let it be: such unwarranted criticism is suffocating when the city seeks a new chapter.
There are those who still believe that Hong Kong can continue to be a bridge between the Chinese and Western cultures, as it has done so well in the past.
Jose Alvares, Macau
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