US Sec. of State Pompeo: Hong Kong will become just another communist-run city
|Early Friday morning in Asia, US Secretary of State Mike Pompeo used twitter to register his angst against the Chinese Communist Party’s (CCP) Hong Kong Security Law.
The tweet
The CCP implemented its national security law on Hong Kong, in violation of the commitments it made to the Hong Kong people– and disregarding Hong Kongers’ human rights and fundamental freedoms. A free Hong Kong was one of the world’s most stable, prosperous, and dynamic cities. pic.twitter.com/9Nrc7CT1wV
— Secretary Pompeo (@SecPompeo) July 2, 2020
The CCP implemented its national security law on Hong Kong, in violation of the commitments it made to the Hong Kong people– and disregarding Hong Kongers’ human rights and fundamental freedoms. A free Hong Kong was one of the world’s most stable, prosperous, and dynamic cities. pic.twitter.com/9Nrc7CT1wV
— Secretary Pompeo (@SecPompeo) July 2, 2020
FX implications
Although China hasn’t yet strongly responded to the US attacks on the Hong Kong security law, such a repeated criticism risks pushing the dragon nation towards hard stand against the world’s largest economy. This would exert additional downside pressure on the market’s risk-tone sentiment that recently weighed down by the coronavirus (COVID-19) concerns. That said, Wall Street benchmark lost some ground during the latest hours while the US 10-year Treasury yields also recede to 0.669% by the end of Thursday.
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