Overseas Headlines – May 28, 2020

United States:

Trump-China Feud Is Increasing Risks for Markets and Economy

“It’s only a matter of time before the Trump administration hits China over a range of grievances. The question for CEOs, investors and economic policy makers is how bad things will get. U.S. lawmakers moved on two fronts Wednesday, with Secretary of State Michael Pompeo declaring Hong Kong no longer autonomous from China and the House of Representatives authorizing sanctions against Chinese officials for abuses against Muslim minorities. Other bills in the pipeline would target Huawei Technologies Co., Chinese companies listed in the U.S. and banks that do business with Chinese officials who interfere in Hong Kong’s affairs.”



Europe’s $826 Billion Recovery Fund Will Have Strings Attached

“The European Union’s top economic officials warned that the bloc’s 750 billion-euro ($826 billion) recovery package won’t give countries blank checks, as grants and loans will be conditional on the implementation of reforms and will have to focus on the region’s green and digital priorities.”



China Approves Hong Kong Security Legislation, Defying Trump

“Chinese lawmakers approved a proposal for sweeping new national security legislation in Hong Kong, defying a threat by U.S. President Donald Trump to respond strongly to a measure that democracy advocates say will curb essential freedoms in the city.”



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