LONDON (Reuters) – Chinese President Xi Jinping is so nervous about the position of the Communist Party that he is risking a new Cold War and imperilling Hong Kong’s position as Asia’s pre-eminent financial hub, the last British governor of the territory told Reuters.
Chris Patten said Xi’s ‘thuggish’ crackdown in Hong Kong risked triggering an outflow of capital and people from the city which funnels the bulk of foreign investment into mainland China.
The West, he said, should stop being naive about Xi, who has served as General Secretary of the Communist Party since 2012.
“We have long since passed the stage where, without wanting another Cold War, we have to react to the fact Xi seems to want one himself,” Patten said.
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WNU Editor: China is now only risking a Cold War with the U.S. and its allies, but China is also risking its relationships with almost every country in Asia because of its territorial demands. In the short term this may bolster the Chinese Communist Party and their legitimacy to rule China, but in the medium to long term the costs are going to be ery high.