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Hong Kong security law is going to devastate its economy

Companies will reject Beijing control and US can withdraw trade privileges

| Hong Kong
Pro-China supporters hold up Chinese national flags facing Victoria Harbour in September 2019: the more Xi damages China's liberal financial zone, the more the foreign companies will question why they should stay.   © Reuters

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

China's announcement last week that it plans to impose national security legislation on Hong Kong raised grave concerns about the city's democracy. But the economic toll could be sizable, too.

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