US would get nowhere by closing three HK trade offices

United States politicians who seek to harm China's interests continue to both frustrate and amuse, often for their naivete. But I take exception to their latest such irrational move: seeking to close the Hong Kong Special Administrative Region's three economic and trade offices in the US.

Here's the history: The trading relationship between the US and Hong Kong has resulted in a significant trade surplus for the US, amounting to $284.9 billion over the past decade. This means that Hong Kong has purchased significantly more US products and services than the other way around. And yet, instead of striving to maintain this trend that favors the US, the US House Foreign Affairs Committee recently advanced the Hong Kong Economic and Trade Office Act.

The bill, if passed and enacted, would remove privileges, exemptions and immunities enjoyed by the Hong Kong economic and trade offices in the US, possibly leading to their closure and thereby undermining US trade relations with the HKSAR.

The common justification provided by politicians more often than not centers on baseless allegations that Hong Kong's autonomy has been reduced following the introduction of the National Security Law for Hong Kong. This is despite visitors and reputable surveys readily attesting to the contrary. Stories are told of how Hong Kong has regained its former dynamism, attracting visitors and foreign investors alike, precisely because autonomy is being exercised vigorously under the "one country, two systems" principle, reinvigorating Hong Kong's commerce, tourism and investment prospects.

In fact, numerous large-scale international conferences were held recently in Hong Kong, attracting A-listers from the financial, business and entertainment sectors. Notably, the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit in November brought together approximately 300 international and regional leaders from 160 global financial institutions. All have cast their vote of confidence in the HKSAR with their feet, precisely because the city has maintained its old winning formula, thanks to the generous autonomy that Hong Kong enjoys under the Basic Law. Evidently, they recognize that Hong Kong has returned to normalcy and are eager to continue their engagement with Hong Kong and, through it, with China as a whole.

US politicians should be aware that one of the key functions of the economic trade offices is to assist US companies in conducting business in Hong Kong. Their closure would only cause inconvenience and potentially result in missed opportunities for US companies.

Additionally, the offices strengthen cooperation between the city of Hong Kong and the US in cultural and educational exchanges, which is beneficial to people on both sides.

The HKSAR government maintains 14 overseas economic and trade offices, including those in Washington, DC, New York and San Francisco. No issues have arisen with other countries that recognize the beneficial role played by these offices. It was right for the HKSAR government to immediately denounce the threat of closing the three US offices, warning of the economic damage it would cause and its cultural impact on both sides. Regarding the National Security Law, it reiterated that the HKSAR government robustly protects human rights and rule of law continues to be respected.

The thinking of China-bashing US politicians is a great divergence from the US business leaders who know China well from intense interactions with their Chinese counterparts and the Chinese government.

Nevertheless, were the three economic and trade offices to be closed in the US, their work, in all likelihood, would continue to be carried out under the umbrella of the Chinese embassy and consulates, similar to how US government trade representatives work within the US consulate-general in Hong Kong.

Alternatively, these offices could be relocated to member economies of the Association of Southeast Asian Nations, the Middle East, or BRICS countries and might become more usefully engaged.

Late last month, Asia's first and the world's largest Saudi Arabia-focused, exchange-traded fund went public on the Hong Kong Stock Exchange. This allows local and international investors to use Hong Kong dollars or renminbi to invest in the Saudi stock market component index in the Hong Kong market, and to share development opportunities in the Middle East. In other words, the US' loss might become another country's gain.

Myopic US politicians should realize that their temperamental actions can only breed resentment among the people of Hong Kong, perhaps leading to a boycott of US-made products. The irrational attempt to close down the economic and trade offices would be, as Hong Kong Secretary for Commerce and Economic Development Algernon Yau Yingwah put it, the same as "cutting off one's nose to spite one's face".

Of course, we all understand the true motivation behind the actions of those US politicians. They are unable to solve the multitude of domestic problems plaguing their country, such as homelessness, a crumbling infrastructure, hate crimes, a widening wealth gap, an influx of illegal immigrants, an opioid epidemic and gun violence, as well as the skyrocketing national debt, and therefore attempt to divert the voters' attention by bashing China and the HKSAR.

The author is an adjunct professor at The University of Hong Kong's School of Professional and Continuing Education and a council member of the Chinese Association of Hong Kong and Macao Studies. The views do not necessarily reflect those of China Daily.