Possible closure of Hong Kong trade missions in US is no big deal
The annual high cost of running these offices with diminishing value for money in a hostile America could be a blessing in disguise
Another day, another provocation from Washington. The House of Representatives has passed a bill that could close Hong Kong’s trade offices in the United States.
It’s part of an onslaught of bills from the US Congress targeting the city and Beijing. There are so many of them now it’s getting difficult to keep track of them, though most are just grandstanding from US politicians to boost their anti-China credentials.
In this case, though, it might not be such a bad thing. The question is, what would be the cost for Hong Kong, if any, should those US offices close?
And that can’t be answered unless we know whether they are actually value for money.
I admit it would be hard to determine how much actual economic benefit they have provided the city over the years. But we do know exactly how much they cost local taxpayers – a total of HK$601.5 million (US$77.1 million) a year, for all 14 such offices around the world. Of these, there are three Hong Kong trade missions in the US – New York, San Francisco and Washington.