Reuters reports that the US State Sec. Pompeo says China in the past year 'has shed any pretense' that people of hong kong enjoy high degree of autonomy required by law.
The headline follows earlier news that Pomero has certified to Congress that Hong Kong is no longer autonomous from China and does not warrant special treatment under US law.
Risks to financial markets are significant. More on that here:
Chart of the Week analysis from the open of this week stated that the US and Chinese tensions are at the forefront of markets.
- China's plan of national security law in Hong Kong puts Trump in an unwelcome spot with Xi
- The Hong Kong Dollar, the next black swan?
In other headlines, The Global Times reports that the US has "hidden key information and failed to handle the pandemic properly, leading to the global health crisis. Lawmakers said Chinese citizens & companies should have the right to sue the US government."
The Global Times has also stated that the "central government of China is trying its best to protect Hong Kong from instability and riots regardless of pressure from the West; the US is taking actions to harm the Hong Kong' economy, so Hong Kong's people with common sense will see “who is really helping Hong Kong."
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