Desperate to jump on a long-discredited bandwagon, Hong Kong wants to become a major digital asset hub…
Despite the potential risks involved, [virtual assets] also carries with it fundamental value,” Christopher Hui, Hong Kong’s secretary for financial services and the treasury, told AFP in an interview.
By ‘fundamental’ we mean ‘zero’. And has no-one told them that Beijing has pretty much banned crypto? In the UK, lawmakers want cryptocurrencies to be regulated as online gambling. (More from David Gerard.)
Despite not being Hong Kong, Macau gets a revamped NatSec Law…
The amendments expand the offence of secession to cover non-violent acts, while subversion is stretched to punish opposition to any central government department and China’s ruling ideology.
Restrictions on “foreign political organisations or groups” have been widened to cover those operating outside Macau including non-political groups.
Macau police also now have extraterritorial jurisdiction to pursue suspects outside the city.
…But the city’s secretariat for security defended the changes after the consultation period ended. Only 0.4 percent of more than 111,000 opinions they collected disagreed with them, it said.
Hong Kong’s forthcoming NatSec Law will presumably have similar extraterritoriality and other provisions.
A little weekend reading…
Massive report on Beijing’s involvement in Canada’s elections.
A declining population and too many kids at university – Guardian story on Chinese graduates having to accept menial jobs. Chart showing massive increase in the number of degree holders in China in the last 20 years. Part of the problem is that mercantilist trade policies suppress domestic consumption and thus creation of skill-intensive service-sector jobs.
A review of the British Museum’s Qing exhibition.
Some out-of-area things…
From the UK National Archives – Caribbean Chinese on the Empire Windrush…
As early as 1803, over thirty years before the ending of slavery in the British empire, Kenneth MacQueen, who had been appointed to explore the possibility of transporting Chinese workers to Trinidad, wrote to the commissioner regarding the idea of recruiting a ‘numerous’ contingent of Chinese workers as indentured workers.
Interview with session bassist and legend Carol Kaye.