Biden Administration Treads Cautiously on Hong Kong Security Law
• U.S. has denounced Hong Kong’s new national security law but Washington's response so far has been muted compared to 2020
• Law expands Hong Kong government's powers to target dissidents; language is vague so impact remains to be seen
• Analysts suggest Biden admin may not want to rock relations with China in an election year
• White House wants to protect fragile stabilization of U.S.-China ties in recent months
• Private sector action withdrawing from Hong Kong may have bigger impact than U.S. government measures