Washington D.C. – On July 30, FAO Global Associate Sophia Song attended an event held by the Center for Strategic and International Studies (CSIS) on Hong Kong and the Indo-Pacific Political Economy with former U.S. Consul General Kurt Tong. At this event, the former U.S. Consul General Kurt Tong shared his insights on Hong Kong’s importance in Asia.
3 Key Takeaways:
1. Hong Kong’s economy and society are positive models for all of Asia. Hong Kong is a model for exhibiting how open markets and transparent governance work together to create prosperity. The United States should look to support Hong Kong in commercial and financial ventures and to show respect and support.
2. Hong Kong is an ideal place for foreign businesses and investors to make connections due to its international characteristics and relationship with China.
3. Hong Kong’s high degree of autonomy is a necessary ingredient for its success. China’s growing encroachments on that autonomy poses threats to Hong Kong’s special status and future competitiveness.
FAO Global Assessment:
Hong Kong is the most prosperous city in the world’s largest nation. It is a place with its own cosmopolitan identity and a degree of interconnectedness with the globe that is unique to Asia. The U.S. should engage more and strengthen relationships with Hong Kong as well as continue to support the one-country, two systems policy.
Its openness, autonomy, and clean and effective government make it a good partner to the U.S. When considering tariffs, Hong Kong should also continue to be treated differently from mainland China. The U.S. should seek ways to bolster its strengths as Hong Kong is a vision of similar traits the U.S. should want from China, and much of the rest of Asia.
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