Its the banks that matters. Any sanctions is not likely just to freeze the individual access to America or his assets (if any) in America, but it would mandate any banks having dealings with those individuals to cease any such business, otherwise those banks will also be sanctioned and cut-off from American capital and markets.
And one more escalation...
(No clue what the "Thousand Talents" are...)Senator Tom Cotton (R-Arkansas) and Senator Marsha Blackburn (R-Tennessee) today unveiled the SECURE CAMPUS Act, legislation that would prohibit Chinese nationals from receiving visas to the United States for graduate or post-graduate studies in STEM fields. The bill would also place restrictions on participants in Chinese foreign talent-recruitment programs, such as the Thousand Talents Program. Congressman David Kustoff (R-Tennessee) will introduce companion legislation in the House of Representatives.
https://www.cotton.senate.gov/?p=press_release&id=1371e SECURE CAMPUS Act
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- ars PRC nationals from receiving student or research visas to the United States for graduate or post-graduate studies in STEM fields.
- The legislation provides a waiver for members of religious or ethnic groups systematically oppressed by the CCP.
- The legislation also provides the President with a national security waiver on a case-by-case basis.
- This prohibition does not apply to visa applicants from Taiwan or Hong Kong.
- Prohibits PRC nationals and participants in China's foreign talent recruitment programs from receiving or working on federal R&D grants in STEM fields.
- Requires universities, laboratories, and research institutes receiving federal funding to attest that they will not knowingly employ participants in China's foreign talent recruitment programs.
- Mandates that participants in China's foreign talent recruitment programs register under FARA.
- Expands the definition of "economic espionage" under U.S. Code to more accurately reflect the range of institutions that the CCP uses to steal technology from t the United States.
- Mandates that the Secretary of State develop and publish a list of China's foreign talent recruitment programs.
The tragic thing is that this need not be so. The smart move for HK would have been to lie low while Beijing and Washington fight it out. But no, instead Carrie Lam insist, against all wise counsel, to ram through the extraditon bill. That triggered a cascade of events beyond her control. The stupidity and arrogance of Lam combined with Beijing's inflexible attitude has brought us to this point.
Depends on how much influence it has on the trade being performed in USD, since USD is the de-facto global currency, this can impact international companies. Hence why INSTEX was setup by France, Germany and UK to work around US sanctions on Iran.
USD is the US's biggest asset, that's why the they see Libra as a massive threat since it could undermine the use of USD as a global trading currency if it is succesful. Which reduces the US caopability to use sanctions as a weapon. It's also why Russia and China are both working to decouple from the USD global trading systems and create alternatives.
The Thousand Talents Program is a policy of China to recruit gifted academics, researchers and other notable individuals to work in China and use their talent to benefit China. It is not illegal in the US to join this program per se (for now) but the US concern is that China could be stealing intellectual property using this program.
And while we are on escalation, the House of Representatives has also passed a bill on sanctions against Xinjiang officials found violating human rights:
https://thehill.com/homenews/house/4...xinjiang-camps
Last edited by Coolboy; 28-05-2020 at 09:56 AM.
I agree, instead of taking the opportunity that the COVID crisis has brought to bridge the divide and perhaps quietly make concessions, they are doubling down and trying to use the crisis to further the CCP goals and the assimilation of HK. I wouldn't shed one tear if the HK government and Lam had their Ceausescu moment, they are just asking for it.
The anti-China stance is beyond just Trump now, there is a bipartisan consenus on this in Washington.Original Post Deleted
The market hasn't really reacted to the news overnight (HK Autonomy, Xinjiang, Meng) - why not?