FT News Briefing Pressure on Hong Kong finance, Boeing’s resumes 737 Max production, EU’s €750bn plan
May 28, 2020
Boeing is set to resume production of the controversial 737 Max, all while planning significant layoffs. Meanwhile, the EU reveals a massive €750 billion recovery plan, facing hurdles in securing member support. Tensions escalate as the U.S. redefines Hong Kong’s status, potentially jeopardizing its role as a global financial hub. Experts discuss the implications of this shift amidst rising geopolitical strains and regulatory challenges affecting businesses.
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Hong Kong's Autonomy in Question
- The U.S. no longer considers Hong Kong autonomous from China due to new national security legislation.
- This could threaten Hong Kong's status as a global financial hub, impacting trade and investment.
US-China Tensions
- The U.S. and China relationship has been tense since the beginning of the Trump administration.
- The recent move from the U.S. seems to be the last straw after already implemented tariffs and pressure on Huawei.
Potential U.S. Actions
- The U.S. might impose similar trade restrictions and tariffs on Hong Kong as on China.
- Further actions on visa issues are uncertain due to business interests.