Hong Kong is considering going to the World Trade Organisation over possible US sanctions but is being told that it’s efforts could be counterproductive based on the Antigua experience.
Should the US revoke Hong Kong’s special trading status, analysts believe any such future action would be “counterproductive”, since even if Hong Kong was to win a case, it could be permitted to introduce retaliatory tariffs on the US, which would harm Hong Kong’s economy and image as a beacon of free trade.
Furthermore, it is unlikely that a WTO case, which would take years to process, would resonate in a White House which is openly scornful of the Geneva-based trade body.
Professor Julien Chaisse said that Hong Kong could learn from another historical precedent of a smaller WTO member successfully bringing a case against a more powerful member, but eventually being left dissatisfied with the spoils of victory.
In 2003, tiny Antigua and Barbuda accused the US of discrimination after it was frozen out of the world’s largest gambling market after the Caribbean nation had built up a giant online betting market designed to replace its struggling tourism sector.
WTO judges eventually ruled in its favour, awarding compensation of US$21 million per year, but the US refused to pay. Antigua and Barbuda therefore had the right to impose tariffs on the US, but declined to do so, thinking that it would be an act of economic self-harm.
“Why would a place like Hong Kong or Antigua impose tariffs on the US?” Chaisse added. “Who would hurt from such action, apart from the domestic middle class?”
Chaisse added that should the national security law lead to an erosion in the “one country, two systems” model under which city is supposed to be governed until 2047, Hong Kong could also find itself on the receiving end of investor disputes and trade lawsuits, especially if the goalposts are moved for investors in the city.
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The Donald has made clear he has no respect for intl institutions. Then again he even has no respect for US institutions. Only think the Donald loves is himself
I suspect you have not read the latest development about Hong Kong, where China is seizing full control
Who of consequence/intelligence from the free democratic world would tell Hong Kong this nonsense? Answer…no one! It is NOT Hong Kong people winning any case at WTO it is categorically China. This reads like nothing more than Chinese propaganda. I can only guess that China thinks the outside world is stupid when they put out these nonsensical statements that they think will gain them support in their quest to defeat the USA. To sum up the situation in Hong Kong…the Hong Kong people want to be a free democratic country such as they were under the UK and China wants Hong Kong to be part of their suppressive inhumane communist rule. Obviously the USA and the free world believes that Hong Kong should remain a democracy as per the agreement Sino-British Joint Declaration that China signed and was registered in the United Nations in 1985. Should China succeed in suppressing Hong Kong their success will be to put an end to what was a thriving financial hub and obviously there will be a mass exodus of people, companies and cash to the free world. An easy prediction would be that Hong Kong will become yet another China failure due to China’s stupidity, greed and dysfunctional totalitarianism. WAKE UP ANTIGUA, do not allow China to infiltrate Antigua. They do not like or care about we, the people, only our lands, our port, marine resources and proximity to spy on the USA. China sent the Wuhan virus out into the world knowing the consequences…death and economic destruction…diabolical!!
@jeb Clever! Speaking the truth. May God help us all, because I don’t know who else can.
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