- July 27, 2021
- Posted by: Stratford Team
- Category: Business
Since taking office in January, the Biden administration has taken a series of steps to signal a firm line on China, while at the same time making clear to Beijing that there is room to collaborate on key issues such as climate change and global health. On July 16, four key U.S. bureaucracies—the departments of State, Treasury, Commerce, and Homeland Security—issued an important advisory to American businesses in Hong Kong, warning them of the dangers posed by Hong Kong’s new national security law. In light of the new law, which was imposed last year, international businesses “should be aware of the potential reputational, economic, and legal risks of maintaining a presence or staff in Hong Kong,” the statement declared.
It’s rare to see four top U.S. government agencies speaking with one voice. The advisory is a product of both the growing friction between Beijing and Washington, and the very real and serious problems posed by the…
