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Over the weekend, in the This is War post, Binkius wrote this important bit:
Rumors from the Trump White House say that the USA is thinking about cancelling trade talks and sanctions if the CCP attacks Hong Kong. This is one of the few brilliant things coming out of the White House. If the trade talks are dead anyways, playing the moral high ground gives Trump some deflection of criticism because he’s defending democracy in Hong Kong.
I would keep that in mind in the days ahead. For the moment, concerns about just such a thing are pushing some red onto the screen:
As is clear from the fact that I have deployed every penny of buying power I’ve got, my view is that U.S. equity markets are in a perilous position, teetering on a precipice and staring into the abyss.
At least we have our rock-solid relationship with China as an asset, just in case things start going badly in Victoria. At this point, I’m sure China is wringing its hands with concern, cloying for the approval of their partners here in America. Art of the Deal, my ass.
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