The US Will Warn Companies About Hong Kong

The US President Joe Biden has stated that the US will issue a warning to all the companies about doing business with Hong Kong because of the downfall and the deterioration of the state there. This will be beneficial to know before than to regret after. The government is just doing its job here.

“The situation in Hong Kong is deteriorating. And the Chinese government is not keeping its commitment that it made how it would deal … with Hong Kong,” Biden said at a Thursday news conference with visiting German Chancellor Angela Merkel.

The US Will Warn Companies About Hong Kong

“And so it is more of an advisory as to what may happen in … Hong Kong. It’s as simple as that and as complicated as that,” he added, according to a White House transcript of his remarks.

Beijing has enacted a controversial national security law in Hong Kong and changed its electoral system. Critics say those changes curtail personal freedoms and hold back pro-democracy politicians.

U.S. State Department spokesman Ned Price said Tuesday that the national security law “continues to undermine” the rule of law in Hong Kong that a healthy business community relies on.

“As a general matter, we seek to ensure that businesses can operate in a stable, predictable, and fair regulatory environment around the world,” Price said at a press briefing when asked about the business advisory on Hong Kong.

“And rule of law risks that were formerly limited to mainland China are now increasingly a concern in Hong Kong. That’s of great concern to us. It is of great concern to the American business community. It’s of great concern to the international business community,” he added.