As the Chinese netizens put it, the “achievement” of the Chinese Communist Party’s “two session meeting” is to exchange a “world-class financial hub” for primitive “street-vendor economy”. The CCP is playing along with the US to sink Hong Kong and its dollar with the controversial National Security Law. Today’s Bloomberg report suggests that the CCP is “defending” the Hong Kong dollar’s peg to USD.
Even though Bloomberg is trying to shed a positive light on the Hong Kong dollar, which is not a surprise given Michael Bloomberg’s close ties with the CCP, it may not be able to alter Hong Kong’s economic outlook.
With the full support from most of the countries in the world, the US launched coordinated full-blown attacks on the CCP & Hong Kong’s financial systems starting on Jun 11 according to Chinese dissident Miles Guo:
- Impose sanctions on the Hong Kong Stock Exchange, Hong Kong officials, Hong Kong dollars & Hong Kong banks
- Delist all the CCP stocks from the US stock exchanges
- Stop the US government employees’ retirement fund from investing in Chinese stocks
- Cancel Hong Kong’s special trade status
- Stop US companies from providing critical parts to Huawei
- Huawei’s business partner Taiwan Semiconductor (TSMC) will go out of business
- Bank of China will go belly up
- CCP’s oversea financial institutions will close their doors
- Hong Kong dollar and Chinese Yuan will be worthless
- Burst the bubble as the CCP is faking numbers on Shanghai, Shenzhen, and Hong Kong stock exchanges.
- The US will withdraw its businesses from Hong Kong
- The US will withdraw its stock listings on the Hong Kong Stock Exchange
- The US will sanction Hong Kong entities and individuals until the Hong Kong dollar disappears
- The US will complete all required legislation by August
- The US might allow Taiwan to declare independence
- The US will attack the CCP militarily if the CCP dares to attack Taiwan. The CCP could even use nuclear weapons.