China could face sanctions over Hong Kong national security law: White House - New York Post

The national security adviser warned that the Trump administration could slap sanctions on China’s ruling Communist Party over the harsh new security laws it plans to impose on Hong Kong, as rallies over the weekend pitted pro-Democracy demonstrators against Hong Kong police.

Robert O’Brien said the Chinese Communist Party is poised to restrict Hong Kong’s autonomy, established when the former British colony was returned to China in 1997.

“So now … it looks like with this national security law, they’re going to basically take over Hong Kong,” O’Brien said on NBC News’ “Meet the Press” on Sunday.

And if they do, “Secretary Pompeo would likely be unable to certify that Hong Kong maintains a high degree of autonomy.

And if that happens, there will be sanctions that will be imposed on Hong Kong and China.

It’s hard to see how Hong Kong could remain the Asian financial center that it’s become if China takes over,” he added.

O’Brien said he believes the world’s corporate community will abandon Hong Kong if China ends the “one country, two systems” form of government that has been in place since 1997.

One reason that they came to Hong Kong is because there was the rule of law there, there was a free enterprise system, there was a capitalist system.

If all those things go away, I’m not sure how the financial community can stay there,” O’Brien said, adding that Hong Kong would suffer from “terrible brain drain.”.

The Chinese Communist Party on Monday told international companies that the security laws would actually create a better business environment in Hong Kong, restoring calm by squashing “terrorist forces.”.

“The international community can rest assured about the legislation for Hong Kong,” said Xie Feng, China’s foreign ministry commissioner in Hong Kong, according to the Financial Times.

“The legislation will alleviate the great concern among the local and foreign business communities about the violent and terrorist forces attempting to mess up Hong Kong . . .

Hong Kong has been rocked by protests since March 2019 that were sparked when the Chinese Communist Party in Beijing introduced a plan that would allow for the extradition of criminal suspects to mainland China?