BREAKING: The Financial Times reports that the Biden administration will this week warn US companies of the increasing risks of operating in Hong Kong as China asserts greater control over the financial hub, citing three people familiar with the matter.
ft.com/content/8ca8fb…
ft.com/content/8ca8fb…
That the Biden admin is taking an official position means many US companies (i.e. American Chamber of Commerce, US I-Banks) are not taking the issue seriously enough.
“The move will mark the first time a US administration has issued a business advisory in relation to Hong Kong.”
“The move will mark the first time a US administration has issued a business advisory in relation to Hong Kong.”
From a US official: “If you do not exit these supply chains you run a risk of violating US law. We want to make clear to the business community that they need to be aware of reputational, economic and legal risk of their involvement with entities involved in human rights abuses.”
“Biden may impose more sanctions against Chinese officials in Hong Kong, according to a person familiar with the discussions. The warning will mention recent events such as the forced closure of #AppleDaily.”
Here is the no-paywall version of the article:
archive.is/r5fYd
Here is the no-paywall version of the article:
archive.is/r5fYd
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