> The hub will have diplomatic immunity, such as the protections afforded to an American embassy, and operate under U.S. common law—the first arrangement of its kind anywhere in the world. The two-year lease is renewable for 99 years.

This seems like a 19th century style colonial concession. I would have hoped we were past that.

It's the best deal they are gonna get from anyone and it comes with implied US protection against Chinese aggression.