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Businesses and financial institutions operating in Hong Kong this would herald a period of great uncertainty," says Prasad, "especially as they can no longer count on Hong Kong's much touted rule of law and at least modest independence from China."Kennedy believes that companies with operations in Hong Kong will likely leave if the situation continues to deteriorate."If Hong Kong loses its independent judiciary, freedom of the press Cheap nfl jerseys , and all those things it has treasured, then Hong Kong is not going to be seen as a safe harbor within China and the region for American companies to base their regional headquarters, have most of their capital and large staff, and base their contracts there," he says.One Hong Kong hedge fund executive tells TIME that he is "definitely concerned" about the news. His firm started considering alternative office locations in Asia because of events in Hong Kong last year, but hadn't made any meaningful decisions. Depending on how the situation pans out, it may "speed up," the process of getting a contingency plan in place.Better for business?Hong Kong officials have attempted to allay the concerns of international investors, saying that national security legislation is needed to ensure there is no repeat of the mass demonstrations that paralyzed Hong Kong for the second half of 2019.
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