FOR A CITY THAT prospers by its reputation for the rule of law, the elite that run Hong Kong often indulge in the most incredible blather that calls into question their understanding of freedoms guaranteed by law. While it is mainland immigrants that most unsettle the establishment, the Falun Gong comes a close second. Given the public profile of the Falun Gong, we grant that Secretary for Security Regina Ip was only being honest when she said the Security Bureau would keep a close eye on the group. No authority anywhere could fail to keep a watching brief over any group with such exposure. But let's hope that a lawful watch is all that is in question. For in Hong Kong the Falun Gong is a legitimate religious organization that has broken no law. On most days, a few stalwart members of the group are camped outside the old Xinhua offices as a reminder to the central government of their pleadings on the mainland. That and other lawful activities reflect their right of free speech. But this has not stopped a prominent politician from calling on the local government to consider a subversion law. Nellie Fong, an executive councillor, reportedly said that though Hong Kong had not needed this before, the Falun Gong changes everything, and that its existence "in Hong Kong makes us very embarrassed." Think again. Hong Kong would look a bigger ninny if it selectively decided who deserve their rights and who don't.