Hong Kong Protests: Peg-Xit?
Rabobank
Rabobank’s APAC head of financial markets research Michael Every echoes industry sentiments about the will and ability of the HKMA to defend the peg but his view differentiates in the consideration of an additional external factor, U.S. President Donald Trump, who recently linked a possible trade deal with Beijing with a tweet about requiring China to «work humanely with Hong Kong first».
«If the U.S. could remove recognition of Hong Kong’s special status, Hong Kong would no longer be able to trade freely with the U.S.,» Every said. «And how does the HKD peg to the USD hold if there is no way for the city to earn U.S. dollars?»
..deferral to December. It actually helps China more than us, but will be reciprocated. Millions of jobs are being lost in China to other non-Tariffed countries. Thousands of companies are leaving. Of course China wants to make a deal. Let them work humanely with Hong Kong first!
— Donald J. Trump (@realDonaldTrump) August 14, 2019
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