White House adviser: China's Hong Kong move will hurt its economy

White House economic adviser Kevin Hassett on Friday said Beijing's move to impose a new security law on Hong Kong after last year's pro-democracy unrest would harm the Chinese economy, and warned that Washington could take action in response to the move.

"The Chinese move in Hong Kong is going to be very, very bad for the Chinese economy and for the Hong Kong economy, and we're also studying what our possible response could be," Hassett told reporters at the White House.

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