from Zero Hedge
In what appears to be a preview of the at-this-point inevitable White House decision to strip Hong Kong of its preferred trading status over the new National Security law imposed by Beijing, Secretary of State Mike Pompeo tweeted on Wednesday that he has “reported to Congress that Hong Kong is no longer autonomous from China.”
Congress now has the power to strip Hong Kong of its “special status” under the United States-Hong Kong Policy Act of 1992, which has allowed for the city-state to be treated more favorably than the rest of China by the US.
The status is part of what’s allowed Hong Kong to develop as a ‘gateway to the West’, a key part of its appeal as an international city. Without the US ‘special status’, HK might lose its international cachet as well, and eventually become just another Chinese city.