by Nadeem Shad
Loss of the US special trading status, which has historically allowed Hong Kong to be treated as a different economic entity from the Chinese mainland, would have major implications for both parties.
Hong Kong and the United States have an economic relationship that stretches back many decades. But in a May 29, 2020, statement, US President Donald Trump said that Washington was ready to end preferential trade relations with the city, leaving many speculating about Hong Kong’s economic future. The US move was in response to China’s plans to enact a controversial new national security law for Hong Kong, that critics fear will have serious repercussions for human rights and freedom of expression. Loss of the US special trading status, which has historically allowed Hong Kong to be treated as a different economic entity from the Chinese mainland, would have major implications for both parties. The South China Morning Post takes a look at the deep economic ties that bind these trading partners.
Source:https://www.scmp.com/video/hong-kong/3087804/hong-kong-and-us-how-much-do-they-rely-each-other-economically
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