The sinking of Hong Kong officially started on the eve of June 30, 2020, with the enactment of Beijing’s national security law. Hong Kong has lost its glory, and the defenders of our old core values have either fled the city, been detained, or been imprisoned. Hongkongers have used peaceful means to tell Beijing to leave their city alone and to honor Deng Xiaoping’s version of “one country, two systems.” However, the “two systems” model has failed.
With the drastic makeover in the electoral system and the ambiguous terms of the national security law, Hong Kong’s rule of law is merging gradually into communist China’s opaque legal system. And worse, professional associations have also been stripped of their powers. The communists in Hong Kong and China are in full control of the city’s education, medical, financial, and legal sectors.
Critics believe that the “Anti-Sanctions Law” can be used as a powerful weapon to punish organizations and individuals who impose sanctions on China and Hong Kong, including their relatives. To make matters worse, some analysts believe that China will use the law as a form of retaliation and will pressure institutions, businesses, and other nations to side with Beijing. The economic and political implication is huge for Hong Kong, and corporations might quickly leave the city in droves to avoid any political uncertainty.
Hong Kong used to give most people a level playing field to run their businesses—many entrepreneurs can survive in Hong Kong, and a few can become very successful. Hong Kong isn’t just a financial city; there are also long-established tradesmen and craftsmen.
Hong Kong’s drastic transformation puts a lot of pressure on the city’s financial industry and businesses. The laws imposed by the Chinese regime on Hong Kong are meant to silence the so-called opposition and suppress every citizen. The DNA of Hong Kong is now being changed forever, and even my friends who support the establishment have told me that they don’t want to see the next generation grow up in a place where there’s no free speech and the laws are ambiguous. Simply put, no one wants to live under tyranny.
With all the abrupt changes in Hong Kong, an increased exodus of capital outflow is happening. Those who leave might not want to come back in the near future. This time, it isn’t just the highly skilled middle class that will leave the city.
Beijing retaliated by sanctioning U.S., Canadian, and EU officials. It’s sad to see that Hong Kong has been the biggest loser in the sanction wars between China and the Western superpowers.
Recently, one of my business contacts in Hong Kong expressed concern and asked me, “Do you think Carrie Lam and these sanctioned officials are still in their right mental state of mind to administer Hong Kong?”
I didn’t know how to respond.
With Apple Daily now gone, most people would doubt whether Hong Kong can still be intact and free from Beijing’s influence. I believe the political massacre of the city’s freedoms hasn’t stopped yet, and I see more turmoil in the near future. Let’s defend Hong Kong as best we can, even though we all know that it will be dark days ahead.