China vows to retaliate if U.S. imposes more sanctions over Hong Kong

 China vows to retaliate if U.S. imposes more sanctions over Hong Kong

 

 Hey Joe you know just the threat of the Biden advisory is setting off Chinese officials uh the official

who's in charge of overseeing hong kong has accused the U.S of attempting to embolden what he

described as anti-China troublemakers or Hong Kong agents in the city and vowed that China would

retaliate against any further sanctions on Chinese officials this is coming as the U.S will reportedly sanction another seven Chinese officials over Hong Kong's new well-year-old national security law and also would issue an advisory likely today which would say to American companies that they could face

electronic surveillance without warrants scrutiny of corporate customer data and possible retaliation due to a new Beijing anti-sanctions law if they comply with U.S sanctions so all of this amounts to what president Biden had described as a deteriorating business climate in the city -  the alert is also meant to remind companies u.s companies that they need to understand that there are consequences for engagement with sanctioned Chinese officials. So all of this is coming just a couple of days before the U.S is sending the deputy secretary of State - Wendy Sherman to Asia she's going to be visiting a very you know variety of country countries um there had been some rumbling that she might be meeting um her Chinese counterpart in the port city of Tianjin but now there have been several reports show that the Chinese have snubbed that idea.

There have been threats that people that just work for media companies could go to jail based on what users put up there um do you know whether that is that just a threat has that do you know of any cases where that actually happened was that where it was actually enforced or is it just more of a threat and kind of a scare tactic.

Um, I think that there are there have been reports that people have had their their um their writings taken down and there have been several reports of that um but that's not so surprising given the changes that we're seeing in that city and what we see happens here on the mainland and I think that's what the U.S government is trying to kind of hammer home to a lot of the businesses in Hong Kong that the environment is changing and so they need to understand that that the changes there are going to be a much more will not have as much daylight between mainland China and Hong Kong.

It's hard for you to it's hard for me to ask you a question but I just wonder what the future looks like in terms of Hong Kong and in terms of Taiwan and in terms of I mean I just wonder how far this really goes.

Um yeah I was a difficult question i mean it's difficult to really know because when you talk to the Chinese government right which is managing the entire place they're going to say that especially for

foreign investors there isn't going to be any change at all and that there are going to be the city is going to be economically prosperous and there are a lot of business people in Hong Kong who also believe that and it just depends on which sector you're in so there you know a lot of Wall Street firms have been adding hiring like crazy in Hong Kong. 

um they see the potential for Hong Kong to be knitted more closely into the Southern part of the country which is going to be much more economically vibrant because they're experimenting with all sorts of

stuff you know in the financial realm so so there are people who do believe that um and even though you know there are just as many or may at least several very loud voices especially who are

of activists of the the risks of being in Hong Kong uh because um you know that there is just so much

grayness when it comes to the national security law

Shepard Smith here thanks for watching CNBC on youtube