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The Weekly File 8.16.19: Hong Kong, 2020, and Tariffs

Last updated on August 18, 2019

The Weekly File 8.16.19: Hong Kong, 2020, and Tariffs | TDF Ep. 4

This episode was recorded on August 14, 2019. News stories apply to week of 8.16.19. The Stock Market Information for this episode was as of August 14. Updated stock info here.

Protests continue in Hong Kong

OUR LEAD STORY TODAY IS THE MANY PROTESTS IN HONG KONG. AT THE MOMENT THIS IS BEING RECORDED, THE PROTESTS CONTINUE. THESE UPRISINGS, WHICH ARE NOW BEING DEEMED RIOTS, INITIATED IN JUNE TO FIGHT BACK AGAINST A NOW SUSPENDED PROPOSED BILL WHICH WOULD HAVE EXTRADITED PEOPLE TO MAINLAND CHINA, A PART OF THE WORLD THAT DOES NOT HAVE A TRACK RECORD OF BEING FAIR IN ALL RULINGS. HONG KONG’S CHIEF EXECUTIVE CARRIE LAM SAID PUBLICLY SHE MADE A MISTAKE BY PROPOSING THE BILL IN THE FIRST PLACE… THE CHIEF EXECUTIVE NOW ADMITS THE VIOLENCE IS OUT OF HER CONTROL.

THE BILL IS NOW SUSPENDED BUT NOT FORMALLY WITHDRAWN FROM CONSIDERATION. AS A RESULT, THE PROTESTS CONTINUE, AND POLICE BRUTALITY WITHIN HONG KONG’S INTERNATIONAL AIRPORT, WHERE THE PROTESTS ARE HAPPENING, IS WIDESPREAD. AT THE MOMENT THOUGH, IT SEEMS THE POLICE ARE BEING OUTNUMBERED BY RIOTERS AT THE AIRPORT AS A NUMBER OF UNDERCOVER OFFICERS HAVE BEEN HOSPITALIZED. THIS PROMPTED INTERNATIONAL LEADERS TO ADDRESS  THE ISSUE… UK FOREIGN MINISTER WRITING IN PART ON TWITTER: WE CONDEMN THE VIOLENCE & ENCOURAGE CONSTRUCTIVE DIALOGUE TO FIND A PEACEFUL WAY FORWARD.

U. S. PRESIDENT DONALD TRUMP ADVISING EVERYONE, ON BOTH SIDES, TO STAY SAFE AND CALM, AND ALSO MENTIONED CHINESE MILITARY SERVICES ARE SCHEDULED TO ARRIVE IN THE COMING DAYS.

Bernie Sanders “restructuring” campaign strategy

POLITICO IS REPORTING THAT DEMOCRATIC CANDIDATE BERNIE SANDERS IS RESTRUCTURING HIS DEBATE STRATEGY TO MORE OBTUSELY TARGET HIS FELLOW HIGH-RANKING CANDIDATES, MORE SPECIFICALLY JOE BIDEN. ACCORDING TO HIS TEAM, THE VERMONT SENATOR IS GOING TO MAKE A MORE NOTICEABLE EFFORT TO HIGHLIGHT THE POLICIES MOST UNIQUE TO HIM, ONE OF WHICH BEING HIS SIGNATURE ISSUE: MEDICARE FOR ALL. SANDERS TOLD POLITICO THAT HE SEES MEDICARE AS A “DEFINING ISSUE” OF THE 2020 CAMPAIGN. NONETHELESS, SANDERS, WHO IS AT THE TOP IN FUNDRAISING RIGHT NOW, IS HOPING TO BOOST HIS RELATIVELY HIGH POLL NUMBERS. HE PLANS TO DO THIS BY NOT ONLY BOLSTERING VERBAL SUPPORT FOR HIS HEALTHCARE PLAN, BUT ALSO FOCUSING HIS ATTACKS ON MODERATE CANDIDATES LIKE FORMER VICE PRESIDENT JOE BIDEN. BOTH BERNIE SANDERS AND JOE BIDEN WILL DEBATE ALONGSIDE ELIZABETH WARREN, KAMALA HARRIS, PETE BUTTIGIEG, AMY KLOBUCHAR, CORY BOOKER, BETO O’ROURKE, AND ANDREW YANG IN THE NEXT DEBATE, HOSTED BY ABC. THAT DEBATE IS CURRENTLY SCHEDULED FOR SEPTEMBER 12, 2019 AND WILL SIMULCAST ON  UNIVISION. THE JAY DOHERTY PODCAST AND THE DOHERTY FILES WILL HAVE LIVE COVERAGE. 

U.S. Markets rise after a tariff implement was canceled

ALL U.S. MARKETS CLOSED UP HIGH YESTERDAY AFTER THE TRUMP ADMINISTRATION DECIDED TO TEMPORARILY PUT OFF OR PERMANENTLY REMOVE TARIFFS ON SELECT CHINESE PRODUCTS, WHICH IS LEADING INVESTORS TO FEEL HOPEFUL THE U.S. AND BEIJING COULD REACH A RESOLUTION IN THE NEAR FUTURE. THE TARIFFS WERE ORIGINALLY SCHEDULED TO BE IMPLEMENTED ON TUESDAY, AUGUST 13, AND WERE DELAYED BY THE UNITED STATES TRADE REPRESENTATIVE OFFICE, WHICH CITED CONCERNS THESE TARIFFS WOULD AFFECT THE OVERALL NATIONAL SECURITY AND WELLBEING OF THE COUNTRY. 

AS FOR DIALOGUE, CHINESE COMMERCE OFFICIAL VICE PREMIER LIU HAS SPOKEN OVER THE PHONE WITH BOTH  U.S. TRADE REPRESENTATIVE ROBERT LITE HAIZER AND TREASURY SECRETARY STEVEN MA NOO SHIN ABOUT THE TARIFF DELAY. THE HIGH-RANKING OFFICIALS BOTH PLAN TO SPEAK TO EACH OTHER IN THE COMING WEEKS ABOUT WHEN THEY CAN EXPECT SOME OF THE TARIFFS COULD BE IMPOSED. A FULL CHECK ON HOW THE MARKETS CLOSED YESTERDAY, AND HOW THEY PLAN TO OPEN TODAY AT THE END OF THIS EPISODE. 

Andrew Yang gains support of Elon Musk and Casey Neistat

IN TECHNOLOGY THIS WEEK, TESLA & SPACEX FOUNDER ELON MUSK IS IN THE NEWS FOR TAKING THE RELATIVELY ECCENTRIC APPROACH IN SUPPORTING PRESIDENTIAL ANDREW YANG VERY EARLY IN THE RACE. YANG TWEETED MONDAY IN PART: “ MY MAIN HOPE IS THAT PEOPLE TRUST THAT I’M TRYING TO SOLVE PROBLEMS AND I’M OPEN TO DIFFERENT APPROACHES – PARTICULARLY IF THE DATA DRIVES IN A PARTICULAR DIRECTION. CHANGING ONE’S MIND IS NOT A BAD THING.”  TECH ENTREPRENEUR ELON MUSK TWEETED “I SUPPORT YANG” JUST 17 MINUTES LATER.

Markets rise and fall after tariffs bonds,

A BRIEF LOOK AT HOW THE NUMBERS ARE BEING AFFECTED ON WALL STREET AS OF WEDNESDAY MORNING. YESTERDAY WAS A GOOD DAY ACROSS THE BOARD FOR THE US AND MANY OF THE MAJOR WORLD MARKETS. NOW, THOUGH, THE DOW, NASDAQ, AND S&P FUTURES ARE POINTING TO NEGATIVE TERRITORY. ANALYSTS SAY THIS COULD MEAN A RECESSION  IS COMING. INVESTORS CONTINUE TO KEEP AN EYE ON HONG KONG’S HANG SENG MARKET, AND SHANGHAI’S SSE COMPOSITE INDEX IN LIGHT OF THE RECENT LACK OF TARIFF PLACEMENT ON CHINESE CONSUMER GOODS. 

Jay Doherty

2019

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Jay Doherty, Jr. 2019. All rights reserved.
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