Thailand Revives Prison Terms for Royal Insults to Stop Protests Bloomberg 2/3/2021 Randy Thanthong-Knight
(Bloomberg) After Thai King Maha Vajiralongkorn took the throne in 2016, he instructed the government to stop using a controversial law criminalizing royal insults that had often forced those charged to flee overseas.
Yet after months of protests targeting him personally and calling for a reduction in the monarchy’s powers, authorities are again ramping up use of the law. Since late November, some 55 activists who participated in the demonstrations are facing royal defamation lawsuits, according to the group Thai Lawyers for Human Rights.
The fresh charges appear to be a tactical shift in a bid to silence the key leaders of the protests, which have broken long-held taboos and started a public discussion about the monarchy particularly among Thailand’s younger generations. Although the demonstrations have become less frequent in recent weeks as vi
Hong Kong’s Lam Praises HSBC After CEO ‘Grilled,’ Slams U.K. Bloomberg 1/28/2021 Denise Wee, Haslinda Amin and Kari Lindberg
(Bloomberg) Hong Kong leader Carrie Lam endorsed a stronger presence for HSBC Holdings Plc while hitting out at the U.K. for both disparaging the bank and failing to contain the coronavirus as Prime Minister Boris Johnson opens the door for millions of the territory’s residents to move.
In an interview Thursday with Bloomberg Television, Lam said she would “love” to see HSBC expand in Hong Kong, where it has come under increased criticism over freezing the accounts of activists and supporting the financial hub’s sweeping national security law. Lam also said China probably wouldn’t take action against lenders that comply with U.S. sanctions, which the law forbids.
Hong Kong’s Lam Praises HSBC After CEO ‘Grilled,’ Slams U.K. Bloomberg 1/28/2021 Denise Wee, Haslinda Amin and Kari Lindberg
(Bloomberg) Hong Kong leader Carrie Lam endorsed a stronger presence for HSBC Holdings Plc while hitting out at the U.K. for both disparaging the bank and failing to contain the coronavirus as Prime Minister Boris Johnson opens the door for millions of the territory’s residents to move.
In an interview Thursday with Bloomberg Television, Lam said she would “love” to see HSBC expand in Hong Kong, where it has come under increased criticism over freezing the accounts of activists and supporting the financial hub’s sweeping national security law. Lam also said China probably wouldn’t take action against lenders that comply with U.S. sanctions, which the law forbids.
Biden Taps Veteran Team to Clean Up After Trump’s China Fights
Bloomberg 1/20/2021
The veteran officials President-elect Joe Biden has chosen to manage the U.S.’s fractured relationship with China are familiar throughout Asia. But they’ll find the region’s landscape dramatically changed after four years of “America First” upheaval.
Ties between Washington and Beijing have sunk to their lowest point since the height of the Cold War, while the U.S.’s alliances across Asia have been strained by President Donald Trump’s combative trade policies and demands for more troop funding. Biden’s national security team, led by long-time aides such as Antony Blinken and Jake Sullivan, are expected to leave much of Trump’s China policies in place for a period of time as they grapple with domestic crises and work with allies to build a more multilateral strategy to counter Beijing.
Ant Turning From Windfall to Nightmare for Global Investors
Bloomberg 12/28/2020 Bloomberg News
(Bloomberg) Two months ago, global investors including Warburg Pincus, Carlyle, Temasek and GIC were on the cusp of a massive windfall from what would have been the world’s largest initial public offering.
Now, returns on the hundreds of millions of dollars they invested with Ant Group Co. are in jeopardy. On Sunday, China ordered Ant to reexamine its fintech businesses spanning from wealth management to consumer credit lending and insurance and return to its roots as a payments service.
While the central bank’s statement was short on specifics, it presents a serious threat to the growth and most lucrative operations of billionaire Jack Ma’s online finance empire. Regulators stopped short of asking directly for a breakup of the company, yet stressed it was important Ant “understand the necessity of overhauling its business” and told it to come up wi