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Opinion | Europe is no pushover. If China doesn’t back off, the EU might take a tough stance on Hong Kong, too
- Some 2,200 European companies are headquartered in Hong Kong – versus 1,344 from the US. While the EU is unlikely to pass US-style legislation on Hong Kong, it might react in other ways if Beijing continues to meddle in European politics
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The political and social crisis in Hong Kong is a tough nut to crack for the new European Commission, which began work on December 1, led by President Ursula von der Leyen.
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Although the European Union is concerned about Chinese policy towards Hong Kong, it is unlikely to push for legislation similar to the United States’ Hong Kong Human Rights and Democracy Act, given that such a move could imperil its fruitful relationship with the special administrative region.
But things could change if the Chinese were to overplay their hand by continuing to lecture the Europeans on how they should treat the Hong Kong issue. After all, new EU foreign policy leader Josep Borrell announced on Monday that the bloc was working on its own version of the Magnitsky Act, which allows the US government to sanction individuals involved in human rights violations around the world.
The EU’s global sanctions regime could possibly apply to Chinese and Hong Kong government officials responsible for “serious” human rights abuses.
Hong Kong is one of the EU’s largest trading partners. It is also one of the bloc’s major direct investment destinations, and is among the largest sources of foreign direct investment into Europe. Furthermore, 2,200 European companies are headquartered in Hong Kong – versus 1,344 from the US and, reportedly, about 1,400 from Japan.
Hong Kong is the ideal gateway for European businesses into the vast market of mainland China, and its special status and freedoms are seen as invaluable assets by the EU.
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