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One Country, Two Systems: Hong Kong's Unique Role in U.S.-China Relations

As one of the world's most open economies, Hong Kong plays an active role in promoting free trade and economic cooperation between the United States and China. As a nexus between China and global trade, Hong Kong had long served as an important economic gateway in U.S.-China relations. However, as U.S.-China competition intensifies, where does Hong Kong find itself amid this precarious balance?

Featuring Dominic Chiu, Senior Analyst for China and Northeast Asia at Eurasia Group, and Professor Ho-Fung Hung from Johns Hopkins University, OAS President Rebecca Jin moderated the discussion on September 7, 2026 that explored the advantages and competitiveness of Hong Kong under One Country, Two Systems, its economic state at the time, and the implications of the U.S.-China trade war for its economic stability. The discussion also examined Hong Kong's role in Chinese efforts toward RMB internationalization, the economic changes that had persisted since COVID-19, and the strategic role Hong Kong could continue to play as an economic intermediary between the U.S. and China.

The program was held virtually on Zoom.

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