After the coronavirus pandemic slowed the momentum of anti-government, pro-democracy demonstrations in Hong Kong, the protest movement picked up steam again Sunday after Beijing signaled it would directly impose national security laws on the city. Now, many of the young protesters believe the only two outcomes are either independence or the loss of autonomy promised in China's 1997 territorial exchange with the United Kingdom.
If the latter takes place, U.S. National Security Adviser Robert O'Brien expects an economic fallout. Hong Kong, he said, has emerged as Asia's financial center because financial service firms and other businesses flocked to the city thanks to its democracy, free enterprise, and rule of law. If Hong Kong loses those defining characteristics, in O'Brien's view, because of a Beijing takeover, he can't envision how those companies can remain.
He also predicts that many Hong Kong citizens would seek a way out. "I think you're also going to have a terrible brain drain," he said. "I think Hong Kong citizens, many of whom can travel under certain circumstances to the United Kingdom or seek refuge in other places, they're not going to stay in Hong Kong to be dominated by the People's Republic of China and the Communist Party." Tim O'Donnell