China Friday imposed new rules on Hong Kong, effectively allowing the autocratic Communist government of Xi Jinping greater control over the semi-autonomous region. The rules will permit China to crack down on pro-democracy protests, setting the government up for a showdown with the US. At the close of markets Friday, Hong Kong’s Hang Seng Index was down 5.7%, while in morning trade in Europe, all major indexes fell. The central government in China said China’s ceremonial parliament is exploring a bill that could suppress opposition in Hong Kong and ban “treason, secession, sedition and subversion” in the former British colony. CBC
