Luckily for HSBC, it’s headquartered in Britain: a country where you can say what you like about Boris Johnson and his shambolic handling of the pandemic.
One, too, where the government does not force a company to cheerlead for a policy it may privately think outrageous. No, the bank only goes in for that sort of thing overseas.
And notably in Hong Kong, home of 54 per cent of last year’s $22.2 billion pre-tax profits.
There, HSBC has put money before morality to back China’s new security law: one that’s an assault on the freedoms of Hong Kong’s people. The bank’s justification only exacerbates the betrayal of 1997’s handover agreement: “We respect and support laws and regulations that will enable Hong Kong to recover and Continue reading Bow to Beijing a low move by HSBC | Business | The Times