Economics
Senators Push ‘Unprecedented’ Sanctions on China Over Hong Kong
- Measures would target banks working with China on security law
- Some lawmakers question whether Senate effort may backfire
This article is for subscribers only.
A Senate Republican who’s sponsoring legislation to penalize banks that work with Chinese officials moving to crack down on dissent in Hong Kong said his bill would bring “unprecedented” action to the issue.
Senator Pat Toomey of Pennsylvania said his bill “penalizes the banks that choose to finance the erosion of Hong Kong’s autonomy and put marginal profits ahead of basic human rights.”