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Hong Kong expats see US sanctions as a mistake
| Published: | 5 Jun at 6 PM |
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Expats in Hong Kong strongly believe US sanctions against the city are a big mistake.
Traditionally, expats living and working in Hong Kong are against any action which disturbs the fragile peace and financial success of the former British colony. As a result, they believe moves by Trump to impose trade sanctions on the city will rebound and result in the US being the biggest loser in the longer term.
One former Hong Kong-resident expat now living outside Asia agrees, citing the fact that US exports and services to the city support at least 188,000 US jobs. The former Hong Kong-based international business advisor strongly believes the glitter and glamour of the international business and financial hub won’t become a memory due to Trump’s action, as it still has strong trade links with numerous regions and world countries. These mutually-beneficial contacts, he says, will shield the city from negative consequences, allowing it to remain a powerful international financial hub.
Another Swiss financial consultant is echoing the above comments, stating he still has faith the city as a financial marketplace. He points out that, during 1997, many expat professionals fled but returned at a later date, with a similar scenario expected to take place in 2020. He also believes Beijing has kept its promise as regards the protection of investments and capital and is expected to continue on the same path after the new Chinese national security law is enacted, thus ensuring a future of prosperity and hope for the troubled city.
Traditionally, expats living and working in Hong Kong are against any action which disturbs the fragile peace and financial success of the former British colony. As a result, they believe moves by Trump to impose trade sanctions on the city will rebound and result in the US being the biggest loser in the longer term.
One former Hong Kong-resident expat now living outside Asia agrees, citing the fact that US exports and services to the city support at least 188,000 US jobs. The former Hong Kong-based international business advisor strongly believes the glitter and glamour of the international business and financial hub won’t become a memory due to Trump’s action, as it still has strong trade links with numerous regions and world countries. These mutually-beneficial contacts, he says, will shield the city from negative consequences, allowing it to remain a powerful international financial hub.
Another Swiss financial consultant is echoing the above comments, stating he still has faith the city as a financial marketplace. He points out that, during 1997, many expat professionals fled but returned at a later date, with a similar scenario expected to take place in 2020. He also believes Beijing has kept its promise as regards the protection of investments and capital and is expected to continue on the same path after the new Chinese national security law is enacted, thus ensuring a future of prosperity and hope for the troubled city.
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