- When the city was handedto the Chinese back in 1997,

the idea was that Hong Kong

would be this one country, two systems

and it was supposed tolast for half a century.

The agreement expires in the year 2047.

As Beijing announced days ago,

plans to enforce sweepingnew security laws

similar to the draconianmeasures used on the mainland,

many here feared it would be the end

of Hong Kong as we know it.

- Beijing has essentiallyintervened directly

and said we're not going to wait.

We're going to pass thislaw here in Beijing,

which will apply to you Hong Kong.

Effectively, this is saying Hong Kong

is no longer under a onecountry, two systems approach.

It is now fully integrated into China

despite the fact thatwe are not yet at 2047.

- [George] Many HongKong residents fearful

at the thought of becominganother Chinese city

and losing personal freedoms.

- [Translator] I thinkit's very ridiculous.

They promised one country, two systems,

but the content of the security law

is basically implementingone country, one system.

- [George] Cheng says for China,

the idea of one country, two systems

has always really meant onecountry over two systems.

- So what this is going to mean is

that freedom of the press,freedom of expression,

freedom of assembly, freedomof protest, freedom of speech,

all of these are going tobe very much in jeopardy.

It also effectivelynullifies the independence

of the Hong Kong judicial system.

- [George] China insiststhe new crackdown is needed

to prevent secessionistand subversive activity

as well as foreigninterference and terrorism.

Ahead of more pro-democracyprotests this week,

China's top militarycommander in Hong Kong

says his 10,000-strong army

is ready to do whatever it takes.

- [Translator] The Garrison troops

have the determination,confidence and capabilities

to defend national sovereignty, security,

and development interests andsafeguard longterm prosperity

and stability in Hong Kong.

- [George] In Washington,

lawmakers on both sides of the aisle

want to sanction any Chinese official

involved in enforcing thenew laws in Hong Kong.

The bill would also penalizebanks and businesses

that help enforce the law.

The White House is warningChina against enacting the laws.

- If that happens, there will be sanctions

that it will be imposedon Hong Kong and China.

It's hard to see how Hong Kong

could remain the Asian financialcenter that it's become

if China takes over.

- [George] And now experts worry

that if China moves totake over Hong Kong,

Taiwan could be next on Beijing's list.

- The reality is that Chinacracking down on Hong Kong

means that Taiwan has even less reason

to believe Chinese promises of autonomy

and noninterferenceshould the two reunify.

- [George] George Thomas, CBN News.