After the U.S. State Department on July 16 issued a warning for multinational companies in Hong Kong, reminding firms that the current situation in Hong Kong will likely negatively affect their operations, a Hong Kong economist and financial columnist said that even if the notice was not issued, most companies would have already made preparations. Law Ka-Chung, a Hong Kong economist and former professor in the Department of Finance and Economics at the City University of Hong Kong, said in a video interview with The Epoch Times that the business environment in Hong Kong has been heading in a bad direction for quite some time now. As the Chinese Communist Party (CCP) tightens its grip on Hong Kong and the United States takes more direct action against the CCP, “the risk will only get higher from a business perspective,” Law said. He believes that even if the imminent threat is …