The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Hong Kong. Earlier on, the US government had started lifting the special status for the Hong Kong economy by halting defense exports and restricting the territory’s access to high technology products.
Not very intelligent. Hong Kong is the only country where the United States have a trade surplus. It reminds the shoot-my-feet tactics used by the EU in the confrontation with Great Britain over Brexit.
Socrates would not approve, says Italian economist Michele Geraci, who posted the following dialogue:
Socrates: “The EU Commission and Merkel raise their voice with Boris Johnson on NoDeal. In your view, who has the upper hand?”
