Trump strips Hong Kong privileges, curbs students in volley on China
Washington (AFP) - President Donald Trump said Friday he would strip several of Hong Kong's special privileges with the United States and bar some Chinese students from US universities in anger over Beijing's bid to exert control in the financial hub.In a day of concerted action, the United States and Britain also raised alarm at the UN Security Council over a controversial new security law for Hong Kong, infuriating Beijing which said the issue had no place at the world body.In a White House appearance that Trump had teased for a day, the US president attacked China over its treatment of the ...
What could losing US 'special status' mean for Hong Kong?
Hong Kong (AFP) - Washington's declaration this week that Hong Kong is no longer sufficiently autonomous from China was a historic moment with potentially far-reaching consequences for the finance hub -- though much depends on President Donald Trump.The revocation of special status could radically rearrange the fortunes of a city that has served for decades as the global economic gateway to China. On Friday, Trump vowed to strip the city of certain trade privileges, saying Beijing's plan to impose a sweeping national security law on the semi-autonomous city was a "tragedy". But he was light on...
Philippine reforms push for corporate tax cut but incentive changes spook foreigners
By Darlene BasinganMANILA, NNA – To help companies recover and attract foreign investors aiming to diversify their supply chains after being ravaged by the Covid-19 pandemic, the economic team of Philippine President Rodrigo Duterte has revised the second tax reform bill as it comes close to being passed.While businesses welcome a generous reduction in corporate tax, foreign business groups and analysts are worried that changes in the fiscal incentive system might drive investors away and cause the loss of more jobs.The Duterte administration has long been pushing for the passage of the second...
NNA Business News
For a terrifying glimpse into Hong Kong’s future, look at how China abuses its own national security law
By Jan WetzelAs the Chinese authorities move to the next stage of bulldozing through a national security law for Hong Kong, let there be no doubt: this is Beijing’s most breathtaking, threatening and callous attack yet on the enjoyment of human rights in the city.In recent years we have witnessed a creeping and gradual erosion of human rights in Hong Kong. No more. With this law, the process is dramatically accelerated, as Beijing discards any pretence of fulfilling its international promises made in the run-up to the 1997 handover.China’s own National Security Law of 2015 contains a definitio...
Hong Kong Free Press
Air cargo between China, US increase despite tensions
Photo: Courtesy of China Southern AirlinesAir cargo between China and the US has entered into a fast track as major carriers in China recently announced regular cargo routes between the two top economies despite rising tensions.On Friday, China Southern, the largest carrier in China in terms of fleet size, said it will operate transcontinental cargo flights from Shenzhen to Chicago using a Boeing 777 three times a week.The first flight will leave on Sunday carrying nearly 90 tons of medical masks, temperature guns, protective clothing and other anti-epidemic supplies, the airline said.A day ea...
Nestle ramps up presence with $102m investment
By Wang Zhuoqiong | China Daily | Updated: 2020-05-30 07:38Switzerland-based food giant Nestle SA is investing 730 million yuan ($102.2 million) in China to expand and strengthen its operations in the country, its second-largest market.The company said it would also scale up its production capacity for high-end, innovative products in Tianjin, to meet rising consumer demand for plant-based products, snacks and pet food.The investment is testimony to Nestle's strong commitment in introducing more healthy and nutritional products in China, said Rashid Qureshi, chairman and CEO of Nestle in China...
Trump announces probe of Chinese companies listed in US
Washington (AFP) - US President Donald Trump on Friday ordered a probe into the actions of Chinese companies listed on American financial markets as tensions flared anew between the world's two biggest economies.The announcement followed Beijing's move to implement a new security law on semi-autonomous Hong Kong that critics say would stifle freedom, as well as with Trump's claims that China obfuscated the origins of the coronavirus that has killed more than 100,000 people in the United States."I'm instructing my presidential working group on financial markets to study the differing practices ...
URGENT: U.S. to start eliminating special treatment for Hong Kong: Trump
U.S. President Donald Trump said Friday that his administration will start the process of eliminating special treatment for Hong Kong, blasting China for breaking its "word to the world" on ensuring the territory's autonomy.The announcement came after China on Thursday decided to introduce a national security law to crack down on what it views as subversive activity in Hong Kong, which saw massive pro-democracy protests erupt into violence last year.Trump said the United States will take steps to sanction Chinese officials directly and indirectly involved in eroding Hong Kong's autonomy and su...
Trump to curb China students, strip Hong Kong privileges
Washington (AFP) - President Donald Trump said Friday that the United States will restrict Chinese students and start reversing Hong Kong's special status in customs and other areas, as Beijing imposes a controversial security law.Trump said the Chinese government has been "diminishing the city's longstanding and very proud status.""This is a tragedy for the people of Hong Kong, the people of China, and indeed the people of the world," Trump told reporters.Secretary of State Mike Pompeo on Wednesday told Congress that the Trump administration would no longer consider Hong Kong to be separate u...
Why NYC suffered when other cities were spared by COVID-19
NEW YORK — As of this week, at least 21,000 New Yorkers are dead from COVID-19, with a few dozen added to the city’s count every day. More than 3,000 have perished in nursing homes, many more in hospitals. Some died at home. The most brutal toll came among those who were old, poor and in the outer boroughs.The city’s deaths are 10 times those of Los Angeles County’s. They’ve surpassed the 16,000 lives lost in Italy’s hard-hit Lombardy region. In the U.K., eight times as populous as New York City, about 37,500 have died. With New York’s outbreak eclipsing others around the world, it’s logical t...
Tribune News Service