Eleanor Olcott, China policy analyst at TS Lombard, tells Barron’s that legislation “is seen as a step too far” for the business community in Hong Kong “that has historically been reticent to get on board with political protesters.” She said that “it will have an impact on business confidence.”
Though Hong Kong is still an attractive destination for international trade, Olcott says the latest developments are symptomatic of things that could shift and add to the uncertainty created by the trade war. The concern is whether Beijing’s moves will push global businesses to reassess their operations or investments in Hong Kong.
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