Could the United States break Hong Kong’s peg to the dollar? | Counting the Cost

In recent weeks, the United States has announced a number of economic policies aimed at China.

These include imposing sanctions on Chinese officials over human rights violations of Uighur Muslims, ending preferential trade treatment for Hong Kong, and passing the Hong Kong Autonomy Act, which allows for further sanctions.

It comes amid rising tensions between China, the US and other global powers, as continuing trade disputes and recent territorial moves by Beijing erode relations.

We discuss whether the US government will go further – to restrict Hong Kong’s ability to use dollars, which would undermine the self-governing territory’s dollar peg and damage its financial operations.

Also on Counting the Cost: We examine Turkey’s military expenditure and the cost of wars in Libya, Syria and Iraq. Plus, how is Russia’s economy faring amid low oil prices and the pandemic? We look at Vladimir Putin’s plans for the future.

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In This Story: Putin

Vladimir Vladimirovich Putin is a Russian politician and a former officer of the KGB who has served as President of Russia since 2012, previously holding the position from 1999 until 2008. He was also the Prime Minister of Russia from 1999 to 2000 and again from 2008 to 2012.

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