Business
Currency weapon: The US dollar threat is becoming very real for China – Sydney Morning Herald
The US’s willingness to use its dollar’s dominance of global financial activity as a weapon has China nervous.
Banks in Hong Kong, however, arent as sanguine. Some, like Citigroup, acted quickly to close accounts associated with the sanctioned individuals even though Hong Kongs monetary authority said that unilateral sanctions had no legal status in Hong Kong and banks were not obligated to comply with them.
The individuals can respond to the US action by shifting their banking activity to Chinas domestic banks but the willingness of the US to use the dollars dominance of global financial activity to ta…
-
Noosa News22 hours agoQueensland government to review greenhouse gas emission reduction targets
-
Noosa News23 hours agoYoung voices shape Sunshine Coast’s future
-
Business23 hours ago2 Low Cost Active ASX ETFs to consider
-
Noosa News20 hours agoStar Entertainment signs $300m lifeline deal with US gaming giant Bally’s