Originally posted by the Voice of America. Voice of America content is produced by the Voice of America, a United States federal government-sponsored entity, and is in the public domain. Experts Fear Impact of China's National Security Laws on Hong Kong's Freedoms Verna Yu HONG KONG - For many Hong Kongers, the Chinese parliament's approval of a plan to impose controversial national security laws on the bustling Asian financial hub this week was a moment of hard decisions. Fearing that a sweeping erosion of the city's rule of law, rights and freedoms will soon start affecting their lives, many people quickly sold shares, converted savings into U.S. dollars, and seriously inquired into emigration. Hong Kong stocks fell for a third day on Friday, with the benchmark index tallying its fourth monthly loss this year. China's National People's Congress passed the plan in a vote on Thursday - details of the legislation will be drafted and could be enacted within the next couple of months. Legal experts and human rights groups are now concerned that China's vaguely defined national security laws, used to suppress dissidents and government critics in mainland China, will be applied to the semi-autonomous city. They say the move has essentially sounded the death knell for the "one country, two systems" policy which has enabled Hong Kong to maintain the rule of law and basic civil liberties established during its years as a British territory -- core values that have underpinned its success as an international business hub. .