The US House (lower house of the Congress) plans to vote next week on moves to impose sanctions on Chinese officials over human rights abuses against Muslim minorities
- the bill was approved by the Senate on May 14
This is in relation to the internment of more than 1 million Uighurs and members of other Muslim minority groups in the Xinjiang region of China
This is another indication of rising US/China strains. As these increase they tend to be a negative input for financial market risk assets (and FX) and supportive of safe haven alternatives. Add it the growing list, recent examples:
- China will not back down from "US quickening technology war mongering" - warn of "ample countermeasures"
- US to add 33 Chinese firms, institutions to an economic blacklist - accusation of helping China spy, links to WMDs
- US accuses China government of blocking US airlines flying to China
- US administration is suspicious of China nuclear weapon tests - may do so too
And, of course:
- coronavirus origin and spread
- trade
- tension over new rules from Beijing to be imposed on Hong Kong
- Taiwan
