Pompeo chides HSBC for ‘corporate kowtow’ to Beijing GlobeBusiness
Secretary of State Mike Pompeo speaks during a news conference at the State Department in Washington, on June 10, 2020.U.S. Secretary of State Mike Pompeo on Tuesday chided British bank HSBC for backing moves by China to end Hong Kong’s autonomy, saying such “corporate kowtows” got little in return from Beijing.
“The United States stands with our allies and partners against the Chinese Communist Party’s coercive bullying tactics,” Pompeo said in a statement, his latest swipe at China’s ruling party.Pompeo referred to HSBC’s Asia-Pacific CEO, Peter Wong, signing a petition supporting Beijing’s plans to impose new security legislation on Hong Kong. He said the “browbeating” of HSBC by China’s communist leadership “should serve as a cautionary tale” .
China’s foreign ministry spokeswoman Hua Chunying told reporters during a daily briefing on Wednesday that Beijing hopes the United States will stop using Hong Kong to stoke fires and interfere in China’s affairs. Pompeo said Australia, Denmark, “and other free nations” had faced pressure from Beijing and it showed why countries needed to avoid economic overreliance on China and to guard their critical infrastructure from CCP influence.
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