CNN: Washington is warning American firms about doing business in Hong Kong
Hong Kong (CNN Business)The US government is preparing to warn American companies about the risks of 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.
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WNU Editor: The Chinese have responded .... China, Responding to Sanctions Report, Says U.S. Should Stop Interfering in Hong Kong (Reuters)
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