Posted on 05/29/2020 11:50:01 AM PDT by SeekAndFind
Chinese authorities have been leveling threats against the United States in the past few days, in the face of possible U.S. sanctions against China after Beijing passed a national security law for Hong Kong.
On May 28, China’s rubber-stamp legislature, the National People’s Congress (NPC), passed a draft resolution of the law, which will pave the way for Chinese security agencies to operate in the city. Beijing’s endorsement of the resolution drew immediate criticism and outcry from many local pro-democracy lawmakers.
Later on the same day, President Donald Trump announced he will hold a press conference on China on Friday. It is widely expected that the president will announce a set of measures, such as suspending Hong Kong’s preferential tariff rate, to pressure Beijing into giving up its new law for Hong Kong that it has passed without going through the city’s own legislature.
___________________________________________________
All eyes on the president tomorrow. Let’s see what happens. I very much hope the administration will strike the right balance between exerting economic pressure on China and defending Hong Kongers’ rights. https://t.co/26dlZ7cuIr
— Joshua Wong 黃之鋒 😷 (@joshuawongcf) May 29, 2020
________________________________________________
The Chinese threats began on May 27 when Zhao Lijian, a spokesperson for China’s foreign ministry, stated in a daily briefing that the security law was part of China’s “internal affairs.”
“If someone is bent on harming China’s interests, China will take all necessary measures to hit back,” said Lijian in response to a reporter’s question about possible U.S. sanctions.
On Thursday, the Office of the Commissioner of China’s Foreign Ministry in Hong Kong, issued a statement accusing the United States of being “shameless” for talking about possible sanctions against China if it challenges the autonomy of Hong Kong as it views as protected under the Sino-British joint declaration of 1984.
(Excerpt) Read more at theepochtimes.com ...
What will they do, stop selling stuff to the United States?
As Harry Callahan would say: “Go Ahead! Make my day.“
If the ChiComs take Hong Kong’s autonomy, they must accept the consequences.
Hong Kong’s favorable trade status, and the convertibility of its currency, depend upon its status as an autonomous Sovereign territory.
They may want to try to bully the rest of the world into pretending to the fiction that Hong Kong is still free, but if we just stand by the truth, then the Chicoms will pay a heavy economic price.
If they don’t have to pay a heavy price, their aggression will be rewarded, and they will be emboldened to even greater aggression and oppression.
Let’s stand up for what is right, and what is true.
RE : What will they do, stop selling stuff to the United States?
They could withhold essential products that they manufacture from the USA (e g., medicine, N95 masks, etc.).
They could dump the US Treasuries that they hold.
Why would “dumping” the Treasury bonds they own harm us? The Chinese are running a huge trade surplus with the US. What else are they going to do with their dollars?
All are short-term challenges; all will be overcome.
This is not going to end well for American multi national companies who offshored their production to China.The writing to decouple is on the wall Any CEO who is not feverishly making plans to get their supply chains out of there needs to be replaced by the corporate board when China starts confiscating their assets in China through exit visa requirements they will be putting in place.
I guess we could retaliate to something like that by nationalizing ALL CHINESE ASSETS IN THE UNITED STATES and then selling everything off at auction to NATIVE BORN AMERICAN CITIZENS ONLY.
When you run a huge trade surplus with someone, you’re going to lose any game of tariffs or sanctions.
They should be 2 years into the decoupling process. If companies are only starting now, they’re screwed.
Keep digging... We are the customer, you are the supplier. Keep kicking us out!
“They could withhold essential products that they manufacture from the USA (e g., medicine, N95 masks, etc.).”
Time to bring all that back to the US. It’s been largely done already.
“They could dump the US Treasuries that they hold.”
Repudiate them. They can eat the paper.
L
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.