A whistleblower from one of China’s most powerful banks says its shady dealings highlight how Hong Kong’s financial system is increasingly at the mercy of Beijing.
Illustration by Luis Grañena
Listen to SupChina editor-at-large and Sinica podcast host Kaiser Kuo read this article.
The roadshow kicked off on a steamy autumn morning in Singapore. Over the course of two days, CLSA, a Hong Kong-based brokerage firm, hyped up a $250 million, three-year bond deal for CEFC China Energy Co., a huge oil and gas firm.
It was 2016, and CEFC was flying high. The company was fresh off a deal to take a stake in a Kazakhstan oil and gas company and a Czech Republic-based bank, plus t
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European democracies, threatened by Vladimir Putin’s war on Ukraine and Donald Trump’s designs on Greenland, are embarking on historic changes in their defense posture. But China’s grip on the supply of tungsten, gallium and other vital raw materials threatens their plans.
The former official in both of the president’s terms discusses why Trump has become less hawkish on China, and his sudden departure from the administration last year.
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