Hey Q, no doubt, for the last couple of hours. They dont like what we know and what we are doing with it. Keep up the good work!
Blackrock Pressed To Divest of All Chinese Assets By NPLC After COVID, Human Rights Abuses
Just minutes after the "threat" from China, the National Legal and Policy Center (NLPC) issueed a press release asking Blackrock - the world's largest asset manager - to divest its customer's money from the 137 Chinese companies currently listed on American stock exchanges.
As Every cautioned, echoing what we said yesterday, "either bill would severely impact already dented US-China relations – especially on the back of the US decision on de facto capital controls to China, and the Global Times’ claim of a “tsunami of anger” already leading some in China to consider walking away from the “Phase One Trade Deal” by declaring force majeure. Likewise, did nobody read the op-ed written by USTR Lighthizer which screamed ‘Made in America’? As a former Deputy USTR once told me, as lawyers USTRs had one missive: whether silicon chips or potato chips, more free trade was always better. Well not anymore."
And while the “market” that is USD/CNH is still largely unmoved…
… "so is snow before the avalanche", and as we also said previously, "Trump already has zero rates and the Fed buying trillions in assets, and he and EVERYONE knows they will do even more if markets fall. So why not push back against China to provide political cover?"
So while we wait to see whther Trump decides to go "all in" anti-China sentiment ahead of the election, moments ago Beijing - via its Twitter mouthpiece, Global Time editor in chief Hu Xijing, issued a preemptive warning, saying that "to counteract the abuse of anti-China litigation over COVID-19, Beijing is already preparing to take the necessary punishment measures against some members of the US Congress, the state of Missouri, and relevant individuals and entities."
To counteract the abuse of anti-China litigation over COVID-19, Beijing is already preparing to take the necessary punishment measures against some members of the US Congress, the state of Missouri, and relevant individuals and entities, sources told Global Times
— Hu Xijin 胡锡进 (@HuXijin_GT) May 13, 2020
While the actual article does not identify what measures are being taken, it does warn that China won't just strike back symbolically, but impose countermeasures that could make them feel the pain.
The bottom line is that as the Trump Administration makes China central to the re-election campaign, Beijing won't just "stand there" and take it, which means that any incremental push by either said will be met - for the first time since the trade war which concluded with a tentative truce in January - with more than just jawboning, and once words turn to deeds, it will be very difficult to de-escalate before the November 3 election.
https://www.zerohedge.com/markets/china-preparing-punishment-measures-against-members-congress-response-anti-china-litigation