Donald Trump assured Thursday, August 13 that Hong Kong would " experience a descent into hell " as an international financial center under the rule of China. " Hong Kong will never be able to prosper with a China so opposed to the thousands of minds who have shaped it, with a China in command, " said the American president. “ The Hong Kong markets will experience a descent into hell. Nobody is going to do business there, ”he added in an interview with Fox business news.
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The United States ended the preferential treatment granted by Washington to Hong Kong on July 14, after China imposed a draconian law on national security in the special autonomous region in late June. The American president explained to Fox business that the end of this preferential treatment would make Hong Kong lose its commercial attractiveness. The United States and Hong Kong had a privileged trade relationship representing " large amounts, " said the Republican billionaire.
In 2018, Hong Kong sold under the preferential regime for 6.3 billion dollars of goods to the United States, in particular electrical equipment, precious metals or plastics. “ Once China got aggressive and took control, I stopped everything. Everything is stopped now and it will be a failure, ”said Donald Trump. Relations between the United States and China have been experiencing a resurgence of tension since the arrival to power of US President Donald Trump in January 2017.