How do people feel about HSBC supporting China's new Hong Kong national security law?

coachman12

nyermen said:

If we accept the new law changes the situation in HK, then its time to treat it as one china.  China says "mind your own business" on their dealings there, okay, but then they can't say "mind your own business again" when HK looses its special status (which is the US's right to decide - smells of wanting it both ways otherwise).
The question comes, what's the line for boycotting business?  Is it to switch from HSBC because they support china?  What about other businesses, both those based there, and those that manufacture there?  So apple etc as well?
I say this as someone very uncomfortable with some of the behaviours recently (nine-dash line etc), but (maybe selfishly) unwilling to potentially penalise myself if there's no wider concensus.  I note the EU has condemned it, which is interesting as they tend to be more reserved than UK & US.

I welcome your mention of how the EU has reacted----they show what they could achieve if they banded together politically and militarily as well as already being the world's largest trading bloc. It's completely off topic ----apologies----but now that the US is racing towards mediocrity and the UK is completely isolated as it is now outside the EU, would it not be a very good thing for the evils of China and a worsening Russia to be balanced in the Free World by the EU ( taking the place being vacated by USA?). I do NOT want to start a Brexit debate -----that is now history ( sad history). 

Uxb1

Pah! The EU will issue some condemnation and then forget about it totally. The constituent countries and too divided about what actually to "do" than to offer some measly mouthed words which everyone will ignore and will be forgotten by tomorrow. Germany is too dependent on Russian energy imports to even raise a finger at Putin so would block any EU Russian censorship drive.
This sort of thing was yet another reason IMO why we left.
Actually no one in the UK really cares either. Even now and then some row blows up about slave/underpaid/child labour being used to make smartphone/T-shirts etc in China and it lasts 2 days.  Actually China could shoot them and the end of their shift and nowt would give a monkeys: cheap goods from china: excellent, cheap viruses form China: bad.

jonnygee2

I welcome your mention of how the EU has reacted----they show what they could achieve if they banded together politically and militarily as well as already being the world's largest trading bloc. 

I mean even when there was a war and a genocide happening inside the European continent, they failed to do this, so I wouldn't be holding any hope over Hong Kong.

coachman12

Uxb1 said:

Pah! The EU will issue some condemnation and then forget about it totally. The constituent countries and too divided about what actually to "do" than to offer some measly mouthed words which everyone will ignore and will be forgotten by tomorrow. Germany is too dependent on Russian energy imports to even raise a finger at Putin so would block any EU Russian censorship drive.
This sort of thing was yet another reason IMO why we left.
Actually no one in the UK really cares either. Even now and then some row blows up about slave/underpaid/child labour being used to make smartphone/T-shirts etc in China and it lasts 2 days.  Actually China could shoot them and the end of their shift and nowt would give a monkeys: cheap goods from china: excellent, cheap viruses form China: bad.

What a very sad post, right from "Pah"  to "Actually no one in the UK really cares" ( you have asked them all I assume?) to "cheap goods from China : excellent", (made by slaves who have committed no crime and are tortured and executed by an evil regime). I feel nothing but pity for someone who cares so little. I suppose you also giggle at the news footage from Yemen. Sad................

coachman12

Did anybody listen to the Chinese Ambassador's threats against the UK in BBC interview last night     (due to our factual statement that China had broken the Agreement signed in 1997, and supposed to last for 50 years ; and the clever move we made by offering 3 million passports to HK residents a few days ago) ?  It sounded like a 1930s ultimatum from Axis Powers !  I hope we stand firm, even though we have no geopolitical power anymore and our closest ally has a President who is ten slices short of a loaf.

bigadaj

to go back to the original question hsbc have an unenviable task in balancing the fact that much of their business, and certainly the more profitable part, is in china and that region, with continuing to operate within and through the us, which is a pre requisite for being a global bank and offering dollar clearing, might require the wisdom of confucius or beyond!

coachman12

bigadaj said:

to go back to the original question hsbc have an unenviable task in balancing the fact that much of their business, and certainly the more profitable part, is in china and that region, with continuing to operate within and through the us, which is a pre requisite for being a global bank and offering dollar clearing, might require the wisdom of confucius or beyond!

But they have not been able to "balance" ( to use your word). HSBC has clearly stated that they support the new Beijing law about HK which breaks the 1997 Agreement and which will result in the execution or life imprisonment in the worst concentration camps in the world. So HSBC has shown no balancing act at all----it has shown how unscrupulous they are under the thumb of an evil regime.
As you mention Confucius, he said : " The superior man understands what is right; the inferior man understands what will sell."  HSBC are as inferior as it gets.

Thrugelmir

For the past 25 years or so no one has objected to "Made in China". Now there's tantrums. 

bigadaj

coachman12 said:

bigadaj said:

to go back to the original question hsbc have an unenviable task in balancing the fact that much of their business, and certainly the more profitable part, is in china and that region, with continuing to operate within and through the us, which is a pre requisite for being a global bank and offering dollar clearing, might require the wisdom of confucius or beyond!

But they have not been able to "balance" ( to use your word). HSBC has clearly stated that they support the new Beijing law about HK which breaks the 1997 Agreement and which will result in the execution or life imprisonment in the worst concentration camps in the world. So HSBC has shown no balancing act at all----it has shown how unscrupulous they are under the thumb of an evil regime.
As you mention Confucius, he said : " The superior man understands what is right; the inferior man understands what will sell."  HSBC are as inferior as it gets.

Well we're not anywhere near the end game. HSBC were in hot water several years ago with the US authorities over money laundering, but this would be something of a different order. they may well have to choose or the US will kick them out and they won't be able to dollar trade which will massively impact their ability to do business anywhere. 

coachman12

Thrugelmir said:

For the past 25 years or so no one has objected to "Made in China". Now there's tantrums. 

It is true , Thrugelmir, that much of the world has turned its head from the appalling events in China, particularly in Xinjiang and Tibet.  But please do not say "no one has objected to Made In China". I think the murder of innocent unarmed students in Tiananmen Square made a big impression on good people everywhere ; and there are thriving support and goods' boycotts groups in all  civilised countries today, including https://savetibet.org/support-tibet/ of which I have been a member for many years. I have also paid 5% of my income since my first salary payment when I was 21 to Tibetan causes, including relief for those fleeing across the Himalayas to India. I have also , unless unknowingly, kept away from Chinese made products and financial investments. And a number of international groups are boycotting Chinese goods .The disappearance of millions of Uighurs has been heavily criticised all over the world in recent years and currently ------ https://en.wikipedia.org/wiki/Xinjiang_re-education_camps.
The Dalai Lama has been recognised internationally with many awards, including The Nobel Peace Prize and the US Congressional Gold Medal ----- http://www.umass.edu/rso/fretibet/education.html; and most national democratic parliaments, including ours, has condemned China's oppression and abuse and murder over many more than 25 years. And the UN has published many reports and condemnations about inhuman treatment of the innocent , including genocide and destruction of culture, religion and language, over many years since 1950, including in more recent times when Beijing's threats frighten most countries and organisations into submission.
So it's not really fair to tar us all with the same brush please.