Companies in Hong Kong fear being crushed between China and US
Most US business orgs (@AmChamHK) care more about their bottom line and access to China markets, than about democratic freedoms and human rights—core values their business foundations rely on. ft.com/content/0d5600…
@AmChamHK “A member of the US business community in HK said that while many were ‘horrified’ by police carting off pro-democracy activists in unmarked vans, they did not see it as relevant to their business.”
@AmChamHK These same companies do not hesitate to virtue signal their support on social media and portray themselves to be the paragons of social justice.
But in HK many of these US companies and orgs (ie American Chamber of Commerce) are blue ribbons who refuse to acknowledge our voices.
@AmChamHK “Business people in HK said they were already aware of the risks, and complained that the advisory made it harder for them to convince their head offices of the continuing benefits of operating in the territory.”
@AmChamHK It's sad to see that US businesses have no problem with satisfying #CCPChina🇨🇳 but only voice out when the US makes them choose between the two.
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US issued a new Hong Kong Business Advisory, and sanctioned 7 Chinese officials (deputy directors of the China Liaison Office in Hong Kong) under the Hong Kong Autonomy Act of 2020.
1/ They outline 4 risks for business/individuals in HK
-risks for businesses following the imposition of the NSL
-data privacy risks
-risks regarding transparency and access to critical business info
-risks for businesses with exposure to sanctioned HK or PRC entities/individuals
“The migration is accelerating and will likely be permanent. Officials and businesses are wrong to downplay the impact on a hub fast losing financial and global appeal.”
“Authorities say that it doesn’t matter anyway. Enough residents will stay, mainlanders will arrive, and Beijing doesn’t need Hong Kong the way it did in the 1980s.”
BREAKING: The Financial Times reports that the Biden administration will this week warn US companies of the increasing risks of operating in Hong Kong as China asserts greater control over the financial hub, citing three people familiar with the matter. ft.com/content/8ca8fb…
That the Biden admin is taking an official position means many US companies (i.e. American Chamber of Commerce, US I-Banks) are not taking the issue seriously enough.
“The move will mark the first time a US administration has issued a business advisory in relation to Hong Kong.”
From a US official: “If you do not exit these supply chains you run a risk of violating US law. We want to make clear to the business community that they need to be aware of reputational, economic and legal risk of their involvement with entities involved in human rights abuses.”
• “Every stop is a new start.”
• “Hong Kong is not a city. It's a story.”
• “Great stories can be made anywhere.”
• “Progress is never easy. But if you believe the story continues, it will.”
Video surveillance software tailored for detecting Uyghurs.
Dahua Technology is a state-owned company which sells video surveillance products and services. They have played a role in the mass surveillance of Uyghurs in Xinjiang.
Like Hikvision, the US has sanctioned Dahua for its role in surveillance of Uyghurs in Xinjiang and of other minorities in China. en.wikipedia.org/wiki/Dahua_Tec…