Taiwan Tati Cultural and Educational Foundation

Over the past few months, COVID-19 has tested the grit and health preparedness of countries worldwide. Major powers have been seen picking up the pieces. In this crisis, Taiwan is a rare success. It has emerged as one of the safest places to live.

As of yesterday, there were 445 confirmed cases and seven casualties. It managed to do this despite its proximity to China, where the outbreak was detected at the end of last year.

Being an international financial center, Hong Kong has long been proud of its free flow of capital, sound financial infrastructure, an influx of talent from across the world and an independent legal system.

However, China’s plans to impose national security legislation on Hong Kong have raised concerns about a potential flight of capital and talent from the financial hub. US Secretary of the Treasury Steven Mnuchin’s remarks on Thursday last week that he was working on measures that could restrict capital flows through Hong Kong signified that Washington’s responses to Beijing’s security legislation are not merely verbal threats, but actions in the making.