Hong Kong About To Lose Special Status: Once in a Generation Moment

Pompeo announced that Hong Kong can no longer be considered sufficiently autonomous to have special status different from the rest of China.  This is part of his mandatory report to Congress for May 25th of this year. Next move is with congress.

“This decision gives me no pleasure. But sound policy-making requires a recognition of reality,” Mr. Pompeo said in the statement. “It is now clear that China is modeling Hong Kong after itself.”

Tariff exemptions and travel freedoms may shortly be stopped.  China's financial sector has grown immensely so that the calculus of swallowing up Hong Kong but losing special market access may now look okay to the CCP.

This is a generational change, large elements of world politics and commerce are going to re-align but go better or worse is unknown.