The Trump administration may soon expel thousands of Chinese graduate students enrolled at U.S. universities and impose other sanctions against Chinese officials in the latest signs of tensions between Washington and Beijing that are raging over trade, the coronavirus pandemic, human rights and the status of Hong Kong. … [Read more...] about Donald Trump raises fears of new trade war with China by announcing White House press conference in wake of move to rein in Hong Kong’s autonomy, sending share prices down
China economy news
Hong Kong was plunged into its biggest political crisis since the former British colony's return to Chinese rule in 1997, with a wave of protests against a now withdrawn extradition bill which would see people sent to mainland China for trial in Communist Party-controlled courts. … [Read more...] about Australia issues a joint statement with the UK and Canada condemning China’s anti-protest laws in Hong Kong
HONG KONG: Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy. WHY DOES CHINA NEED HONG KONG AS IT IS? China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing. The size of Hong Kong's economy may only be the equivalent of 2.7% of mainland China's, down from 18.4% in 1997 when it reverted to Chinese rule, but the territory punches above its weight due to world-class financial and legal systems. As a gateway between China and the West, Hong Kong attracts global capital for China more efficiently than its other cities. HOW IS THAT CHANGING? Under the 'one country, two systems' formula agreed as part of Britain's handover of the territory … [Read more...] about How important is Hong Kong to China as a free finance hub?
LONDON (Reuters) - The euro extended its gains, testing two-month highs, on Friday as traders waited for U.S. President Donald Trump’s response to China’s tightening control over Hong Kong, which could worsen tensions between the two over the financial hub. … [Read more...] about Euro tests highs before Trump’s press conference on China
Trump announced in March he would end India’s access to the decades-old Generalized System of Preferences trade programme over what the United States said was lack of access to India’s market. The programme allows emerging countries to export goods to the United States without paying duties. … [Read more...] about Modi picks China expert and former envoy to U.S. to steer India’s foreign policy