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Beijing Accuses Washington Of Spreading “Anti-China Sentiment” In Hong Kong As Protests Drag On

Courtesy of ZeroHedge View original post here.

Beijing is less-than-thrilled about American and British politicians offering words of encouragement and sympathy to  Hong Kong's protesters. It has made no secret of this.

But as the Hong Kong Human Rights and Democracy Act of 2019 finds growing support in Washington, Beijing is doubling down on its criticism of the US.

Hedge Funder Kyle Bass, who has been closely monitoring the situation in China and HK and frequently comments on twitter, recently bet against the Hong Kong dollar, which has been pegged to the dollar for 36 years. Bass claimed in a letter to investors earlier this year that the loss of Hong Kong's special economic privileges via a change in US law or an executive order from the president would be economically devastating for Hong Kong. The subsequent economic shock would likely be enough to force the HKMA to abandon its currency peg, he said.

Beijing likely understands this, and knows that without these special privileges, Hong Kong will be rendered useless as a pathway for capital flowing to and from the West.

With this animosity weighing on the US-China relationship, it's difficult to imagine how a trade breakthrough might be reached next month. But setting the issue of trade aside, the deputy commissioner of China's Ministry of Foreign Affairs has some more scathing comments about western interference in Hong Kong as Beijing doubles down on a narrative that's at the center of state propaganda about the protests. (of course, that narrative is aided by protesters waving American flags and appealing to President Trump to save them from China).

This time, they went a step further, accusing 'senior' US officials of personally meeting with the "anti-China" forces (apparently a reference to protest leader Joshua Wong's recent trip to Washington to testify at a Congressional hearing).

Song Ruan, deputy commissioner of China's Ministry of Foreign Affairs in Hong Kong, told foreign media that the U.S. and other Western countries were playing a "negative and disgraceful role" in the demonstrations that have gripped Hong Kong for more than three months. He said some foreign politicians "have sided with anti-China forces" in order to "sow trouble in China as a whole, and hold back China's development in every possible way."

"American senior officials had high-profile meetings with and spared no effort to cheer the anti-China forces who intend to mess up Hong Kong," Song said at the briefing, during which he also extolled China's decades of economic accomplishments less than a week before the 70th anniversary of the People's Republic of China on Oct. 1.

"They have distorted the truth, condoned the rioters and claimed support for the right to peaceful protests, but turned a blind eye to the crime of the rioters, who undermined law and order and assaulted the police and citizens," he said.

Echoing President Trump's own tactics, the deputy commission blamed the foreign press for writing stories that are "unfair to China."

"The top priority is to stop violence, end the chaos and restore order," Song said.

He also scolded journalists working for foreign media for what he described as unfair coverage of the political turmoil.

"Some foreign media have confounded right with wrong, applied double standards and acted selectively in reporting the Hong Kong situation," he said. "Instead of telling the truth, they have fanned the flames and cheered the opposition and violent extremists by offering them a platform to spread rumor."

Like Bass, China's Song warned that if Washington passes the Human Rights and Democracy Act of 2019, it could hurt Chinese and American businesses alike.

But Song warned that such a bill would have a negative impact on Hong Kong and the "one country, two systems" legal framework. "If the act is passed, it will undermine the confidence of international investors in Hong Kong, and stakeholders – including American businesses – will suffer," he said.

But the protests have already caused tremendous damage to the HK economy. The Asian Development Bank on Wednesday slashed its Hong Kong growth forecast for 2019 to just 0.3% from 2.5% in the prior forecast. Meanwhile, the protests have shown no signs of slowing down, as violent clashes between demonstrators and police continue, prompting many Hong Kongers to explore the possibility of emigrating.


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