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1997. AT PRESENT, FROM CIVIL AVIATION TO EXTRADITION, ALMOST EVERY U.S. AGREEMENT WHICH RELATES TO HONG KONG IS ACTUALLY A
UNDER INTERNATIONAL U.S.-U.K. AGREEMENT APPLIED TO HONG KONG.
LEGAL PRINCIPLES, SUCH AGREEMENTS WILL LAPSE WITH THE CHANGE OF SOVEREIGNTY IN 1997, ABSENT ANY SPECIFIC ARRANGEMENT OTHERWISE
WITH THE NEW SOVEREIGN.
BY BUILDING A NEW FRAMEWORK OF AGREEMENTS IN ADVANCE OF
REVERSION
A FRAMEWORK MORE SPECIFICALLY ADAPTED TO HONG KONG'S CIRCUMSTANCES TO REPLACE EXISTING U.S.-U.K. AGREEMENTS
THE UNITED STATES IS LENDING PRACTICAL SUPPORT TO THE JOINT DECLARATION'S GOAL OF PRESERVING HONG KONG'S POSITION AS A
LEADING CENTER OF INTERNATIONAL COMMERCE AND FINANCE.
MCCONNELL BILL
IT IS IN THIS CONTEXT THAT WE SUPPORT THE GOAL OF SENATOR MCCONNELL'S BILL OF REVISING U.S. LAW TO ENSURE THAT U.S. LEGAL REQUIREMENTS ENABLE THE U.S. TO CONTINUE TO INTERACT WITH HONG KONG AFTER IT BECOMES AN SPECIAL ADMINISTRATIVE REGION OF THE PRC. IN THE SINO-BRITISH JOINT DECLARATION, AND ITS OWN BASIC
LAW FOR HONG KONG, CHINA HAS ENUNCIATED COUNTRY, TWO SYSTEMS" THAT IT WILL FOLLOW WITH RESPECT TO HONG KONG. HOWEVER, IF LEFT UNCHANGED, OUR OWN LAW MIGHT FORCE US
TO OPERATE ON A "ONE COUNTRY, ONE SYSTEM" BASIS, TO THE
DISADVANTAGE OF HONG KONG AFTER 1997.
A POLICY OF "ONE
THE EXTENSIVE COMMERCIAL, CULTURAL, TRANSPORTATION,
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