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Hong Kong adopts sweeping security laws in bow-down to Beijing

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Hong Kong lawmakers passed sweeping new national security laws on Tuesday, yielding to pressure from Beijing and prompting concerns about the erosion of the city’s autonomy and civil liberties.

The legislation, passed swiftly and with remarkable speed, extends broad powers to authorities to suppress dissent and opposition to Beijing’s rule. It introduces severe penalties, including life imprisonment, for vaguely defined political crimes such as treason and insurrection.

Additionally, the laws target offenses like “external interference” and the theft of state secrets, posing potential risks for businesses, journalists, civil servants, and others operating in the Asian financial hub.

Analysts warn that the legislation could have a chilling effect on various sectors of society, including entrepreneurs, lawyers, journalists, and academics, raising doubts about Hong Kong’s status as an international city known for its openness and freedoms.

The enactment of these laws comes amid a crackdown on dissent that intensified after China imposed its first national security law on Hong Kong in 2020, following widespread protests in 2019.

Many opposition figures have since been jailed or forced into exile, leaving little resistance to the latest measures.

Antigovernment protesters, Hong Kong, August 2019

Law enactment

John Lee, Hong Kong’s Beijing-backed leader, defended the laws as necessary to quell unrest and combat perceived Western spying activities.

He framed the legislation as a means to bolster national security and refocus attention on economic development.

The legislation’s swift passage through Hong Kong’s legislature, dominated by pro-Beijing lawmakers, underscores Beijing’s firm control over the city’s political landscape.

Critics argue that the laws represent a betrayal of the promises made to Hong Kong upon its return to Chinese rule in 1997, which included safeguards for civil liberties and autonomy under the “one country, two systems” framework.

Human rights groups and legal scholars have raised concerns about the legislation’s vague wording and its potential for abuse.

The broad definitions of offenses like espionage and sedition could stifle legitimate activities and restrict freedom of expression.

The legislation grants the city’s leader unilateral authority to enact additional laws without legislative oversight, raising fears of further encroachments on civil liberties.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Calls for tougher protest laws following terror attack

Former minister urges NSW-style protest restrictions after synagogue arson, calling for stronger action against antisemitism.

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A former minister of the Andrews government has criticized Victoria Police for overlooking terror symbols in Melbourne and is urging state Labor to adopt stricter protest regulations akin to those in New South Wales.

Philip Dalidakis, who served from 2015 to 2018, linked the recent arson attack on the Adass Israel synagogue to a failure in public safety measures.

He is advocating for the introduction of protest permits and enhanced police authority to disperse gatherings.

Prime Minister Anthony Albanese has labeled the synagogue attack an act of terrorism, a stance not shared by Victorian Premier Jacinta Allan, who refrained from such a designation to avoid hindering police investigations.

She characterised the attack as designed to instill fear within the Jewish community.

Community fear

Albanese signaled that the attack fits the definition of terrorism due to its intent to incite community fear.

He highlighted Labor’s commitment to Jewish community safety, referencing $25 million allocated to enhance security and an additional $32.5 million pledged.

Opposition Leader Peter Dutton condemned the attack as a national disgrace and accused Labor of failing to address rising antisemitism.

He, along with former Liberal treasurer Josh Frydenberg, called for a formal terrorism designation and the formation of a police taskforce against antisemitism.

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Assad granted asylum in Russia amid regime change

Bashar al-Assad granted asylum in Russia; Biden emphasizes opportunities and risks post-Assad era in Syria.

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Former Syrian President Bashar al-Assad and his family have been granted political asylum in Moscow, according to a source from the Kremlin reported by TASS.

Assad, who was last in Damascus on Saturday, fled the country early Sunday, as confirmed by both Syrian and Arab security officials.

Russia’s foreign ministry indicated that he had officially stepped down and left the country.

Though Assad planned to address the nation Saturday evening, the speech never took place.

His wife and children had previously departed for Russia in late November, with his brothers-in-law moving to the United Arab Emirates.

Potential risks

President Biden referred to the fall of the Assad regime as a “historic opportunity” for Syrians to shape their future.

He acknowledged both the potential and risks involved.

Biden credited his administration’s actions, such as supporting conflicts in Ukraine and Israel, for weakening Assad’s position by diverting the resources of his allies: Russia, Iran, and Hezbollah.

He reiterated the ongoing U.S. sanctions against Assad’s regime.

The U.S. plans to send senior officials to the region and provide humanitarian aid to support the Syrian people during this transition. Biden confirmed that the U.S. military presence in eastern Syria will continue, particularly to secure prisons housing Islamic State members.

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Young men profit from risky crypto and political betting

Young men are increasingly investing in risky crypto and political bets, yielding high returns despite potential risks and disadvantages.

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Young men are increasingly taking risks in cryptocurrency and political betting, reporting substantial gains as markets rise.

Investments by young men are significantly outperforming traditional ones.

A diverse portfolio consisting of bitcoin, gold, GameStop, and DraftKings yielded a 62% return in 2023.

Many young male investors view their speculative trades as a pathway to traditional goals, supported by the entertainment aspects of mobile trading. However, owning cryptocurrency and meme stocks is influenced by gender attitudes. Data from the Pew Research Center shows a stark disparity between young male and female investors in crypto ownership.

Political expectations

The recent surge in bitcoin prices is partly due to favorable political expectations surrounding the newly elected administration. Political betting has also grown, with a majority of participants being male and under 30.

Many young men feel compelled to pursue risky investments due to economic pressures and perceived barriers. While they report higher earnings, nearly half claim to face discrimination, contributing to feelings of alienation.

The pandemic fueled increased retail participation in investing, especially among younger demographics. Influencers on online platforms significantly impact investment decisions, often promoting risky behavior.

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