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Beijing speaks of 'protracted war' when speaking of decoupling

PHRASEOLOGY from Beijing includes the use of 'protracted war' to describe its current situation, and 'dual circulation', referring to its large self-sufficient economy, notes Hong Kong-based China Economic Review

04 August 2020 - 19:00

PHRASEOLOGY from Beijing includes the use of 'protracted war' to describe its current situation, and 'dual circulation', referring to its large self-sufficient economy, notes Hong Kong-based China Economic Review.

'China's leaders are heading for the beach. But an enormous amount is going on, on and off the radar, and it's all pointing to decoupling. There is the argument that decoupling is impossible because the whole world is now too intertwined to create a clean divide, but it would appear that this argument is likely to be stress-tested in the months ahead,' said CER's weekly editorial.



'Another interesting situation is HSBC, the world's most international banks. But while it operates just about everywhere, a sizeable portion of its revenues and profits come from Hong Kong and mainland China. Is it possible that the bank, now headquartered in London, is being placed in a situation where it has to make a choice? And if so, what decision would it make? And with what consequences either way?'


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