HONG KONG — Like Hong Kong, HSBC has long sat at the crossroads between East and West, a big global bank based in Britain that has reveled in and profited from its deep relationship with China. And like Hong Kong, it is now caught in the middle of a new era of confrontation between Beijing and major Western governments. In China, HSBC has been accused of “setting traps” to ensnare the Chinese tech giant, Huawei. HSBC got called out in China for not publicly backing the new national security law in Hong Kong. When the bank eventually expressed support on its Chinese social media account, members of the British Parliament demanded an explanation and urged HSBC to rescind the statement.

Source: International New York Times August 03, 2020 06:56 UTC