WH adviser Hassett: China's move in Hong Kong is bad for Chinese economy
|China's move in Hong Kong is going to be very bad for the Chinese economy, White House Council of Economic Advisers Chairman Kevin Hassett said on Friday.
Overnight, China’s ruling Communist Party proposed a controversial national security law for Hong Kong that is seen as Beijing looking to strengthen its hold over the region.
Commenting on the economic outlook, Hassett said he expects the economic growth in the third quarter to be the highest in the US history.
Market reaction
These comments had little to no impact on market sentiment. As of writing, Wall Street's three main indexes were down between 0.35% and 0.68%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.