Pompeo: US ending controlled defense exports to Hong Kong
|Reuters reported that the United States is ending controlled defense exports to Hong Kong and taking steps toward imposing the same restrictions on exporting US defense and dual-use technologies to Hong Kong that it has in place for China, Secretary of State Mike Pompeo said in a statement on Monday.
"The Chinese Communist Party’s decision to eviscerate Hong Kong’s freedoms has forced the Trump Administration to re-evaluate its policies toward the territory," Pompeo said. "The United States is forced to take this action to protect U.S. national security. We can no longer distinguish between the export of controlled items to Hong Kong or to mainland China."
key notes
- US ending controlled defense exports to Hong Kong - Secretary of State Pompeo.
- Says US to take steps toward imposing the same restrictions on u.s. defense technologies to hong kong as it has on China.
End of Hong Kong's financial sector greatly exaggerated – Global Times
Market implications
In recent weeks there has been speculation that the 36-year old Hong Kong Dollar / USD peg breaks. Yohay Elam, Senior Analyst at FXStreet wrote in a long article on this here.
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