OPINION: By ending “one-country, two systems”, totalitarian China has shown that it is fundamentally incapable of running an open and global entrepôt.
As 32 Western countries jointly singled out China’s global threat to democracy and a rules-based international order at the NATO Summit in Madrid last week,was on the other side of the world cementing Beijing’s absolute control over Hong Kong.
Xi Jinping’s talk of protecting Hong Kong’s “democracy” from descending into “chaos” is the Newspeak that sums up the city-state’s fate.When Britain handed over control of its former colony in 1997, then President Deng Xiaoping agreed the territory would retain political and legal semi-autonomy until 2047. But that was another time, another China.
The crushing of Hong Kong’s autonomy is a reflection of its shrunken relative size and importance to China’s powerhouse economy. It was Hong Kong’s status as one of the freest and most liberal places in Asia that fuelled its rise into a global financial and business hub. It now faces an uncertain economic future as business adjusts to authoritarian rule by Beijing instead of the semi-autonomous rule of law.
The restrictions on Hong Kong’s traditional ease of movement is forcing foreign multinational companies to consider relocating their Asian headquarters. Beijing’s hardline virus management is underlining the security crackdown and political uncertainty that is encouraging expats and residents to leave.The proof that China cannot tolerate Hong Kong’s exceptionalism has wider strategic ramifications.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tour de France 2022: stage one opens race with Copenhagen time trial – live!This year’s edition of the world’s most famous cycle race begins with a 13.2km ride through the Danish capital. Join Barry Glendenning for updates
Read more »
No one is safe from Melbourne’s brutally honest and fearless meme-makersThe humour of these accounts feels like a healthier evolution of tall poppy syndrome. The messaging is that Melbourne is an absurd town full of complex and sometimes contradictory people, and we all participate in upholding its strange rituals. | Tara K...
Read more »
One of the world's rarest fish spotted off the coast of QueenslandA marine biologist had to ask around after struggling to identify a fish species known to dwell in deep stretches of the ocean.
Read more »
‘Reimagining the college’: One of Sydney’s oldest Catholic schools considers co-ed moveSt Mary’s Cathedral College would be the fifth new co-educational school created by Sydney Catholic Schools in the past decade.
Read more »
England v India: fifth Test, day one – live!Over-by-over report: Will new-look England level last year’s series against India in the rescheduled Test at Edgbaston?
Read more »
This is what America's abortion landscape looks like one week post-RoeThe US Supreme Court decision to overturn Roe v Wade sparked legal battles in multiple states. Here's a snapshot of where America's abortion laws stand one week since the ruling.
Read more »