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Largely because of his concerns of an american recession and the american stock market. what really is at stake here is a huge, huge security play here by the chinese. as you point out from your own experience in taiwan, at an incredibly tense moment. it's a tense moment we may face again in the near future. that would be devastating, not only in security terms and in terms of democracy, but in terms of the international economy. >> and richard haas joining us, former state department and national security council official in the bush administration. we've never seen anything like this in hong...

Is that in january taiwan holds its elections. and there is a very big press in that election towards independence. and china, more than anything else as xi jinping has become president for life, is to try to consolidate chinese control. that was their response, which is basically hong kong is an internal concern, it doesn't belong to the international community. you have no right to speak. that's not true because hong kong and its handover from great britain was allowed some au autonomy and to continue. china wants to bring everybody in. this would be a great historic moment for xi jinping. i...

Say that for 50 years hong kong would have a certain degree of autonomy. we're now 22 years into that. hong kong has -- china has said that political -- people charged with certain crimes can be extradited to china for those crimes. that was what prompted this thing two and a half months ago. what's the bigger meaning here? why have 2 million people taken to the streets to protest this? why is that a quarter of hong kong's population is suddenly very surprised china is asserting itself over its territory? >> i don't think they're surprised, ali. i think this has been building and indeed althou...

Years as a kid. i grew up there. my brother was born there. i was just back there in 2017 and i spoke with a lot of people in hong kong society who, at the time, were telling me they were very concerned looking forward about any potential encroachment by beijing to sort of impose that communist government on china. it's supposed to be a different government, different economic system in hong kong. that's part of the deal in the british takeover. >> dana: supposed to be 50 years. we're 30 years since that point. i think people living in hong kong are looking at china saying, we know where you'r...

That appears to be what the president is doing. >> shepard: there is another china problem. these trade talks that effectively fell apart, the u.s. is backing down on human rights. the reporting from "the wall street journal," the journal parent company and fox news parent company share joint ownership. residents in hong kong have been protesting for months in numbers not seen since the hong kong handover from british rule. beijing has been adding more control. years last month when it tried o change the law such that a hong kong residents could be extradited to mainland china for big legal ma...