Washington is warning American companies about doing enterprise in Hong Kong

Washington is warning American firms about doing business in Hong Kong


US President Joe Biden on Thursday confirmed reports in various media outlets this week that his administration plans to soon issue an advisory to companies that will caution them of a “deteriorating” situation in the Chinese territory.

“The situation in Hong Kong is deteriorating, and the Chinese government is not keeping its commitment that it made, how it would deal with Hong Kong,” Biden told reporters at the White House on Thursday, referencing Beijing’s pledge to maintain the city’s semi-autonomous status for 50 years after its 1997 handover from Britain.

Biden described the announcement as “more of an advisory as to what may happen with Hong Kong,” without divulging more details, and experts believe it won’t go much beyond flagging the rising risks.

This won’t be the first time that Washington is urging caution about Hong Kong, which has undergone significant change since pro-democracy, anti-government protests roiled the city in 2019. China cracked down on Hong Kong last…