HSBC has been accused of colluding with the US to take down Huawei. Photo: Reuters HSBC has been accused of colluding with the US to take down Huawei. Photo: Reuters
HSBC has been accused of colluding with the US to take down Huawei. Photo: Reuters
Neil Newman
Opinion

Opinion

Abacus by Neil Newman

US dollar vs yuan: why China’s threat against HSBC rings hollow – for now

  • The bank is accused of colluding with the US to take down Huawei, fuelling speculation it could lose its business in mainland China
  • But with China’s efforts to internationalise the renminbi stalling, Beijing still needs HSBC to provide international access

HSBC has been accused of colluding with the US to take down Huawei. Photo: Reuters HSBC has been accused of colluding with the US to take down Huawei. Photo: Reuters
HSBC has been accused of colluding with the US to take down Huawei. Photo: Reuters
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Neil Newman

Neil Newman

Neil Newman is a thematic portfolio strategist focused on pan-Asian equity markets. Experienced in the major global financial centres of Tokyo, London and New York, he is a regular commentator on commercial investment strategies that suit constantly changing investor trends. He is a long-term resident of Hong Kong.