US politicians with stakes in China should be careful – Global Times

Dhwani Mehta FXStreet

Global Times Editor-in-Chief Hu Xijin responds on Wednesday to the US’ Uyghur human rights bill.

Hu tweeted out: “The bill is a paper tiger with no special leverage that could affect Xinjiang. Xinjiang officials, including the Party chief Chen Quanguo will look at 'sanction' with scorn because they have no connection with the US. But US politicians with stakes in China should be careful.”

Late Tuesday, the US House passed a bill demanding sanctions on senior Chinese officials over the treatment of Uighur Muslim minority. The bill was immediately met with opposition from the Chinese Foreign Ministry, as it urged the US to stop wrongdoing concerning the Xinjiang bill

The latest US-China conflict on the human rights issue added to the renewed trade concerns and kept the risk tone softer in Wednesday’s Asian trading. USD/JPY meanders near lows of 108.49 amid negative Asian equities while Aussie faces double whammy and heads towards 0.6800 levels.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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