US sanctions Chinese firm helping build military base in Cambodia – WSJ
The Wall Street Journal (WSJ) carries a gated story on Wednesday, citing that the US Treasury Department imposed sanctions on a Chinese state-owned company, accusing it of helping build a military base for Beijing in Cambodia.
Further details
“The US blacklisted China’s state-owned Union Development Group (UDG).”
“The company is responsible for work on behalf of a formerly secret Chinese base for corruption allegations.”
“The action was described by officials as an effort by the Trump administration to more aggressively target companies that are helping Beijing to globally expand its military reach.”
Market implications
Markets ignore the latest US-China tussle, as they remain at the mercy of the US dollar dynamics.
The retreat in the US dollar across its main peers seems to have boded well for AUD/USD, as it refreshes highs above 0.7300.
S&P 500 futures turn positive and look to recapture 3,400 levels.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.