Trump Appoints China Hawks, Including Rubio, Worsening Beijing Ties

The relationship between the United States and China is shaping up to be as resilient as expected, with President-elect Donald Trump poised to appoint two well-known China hawks to key roles as he begins forming his “America First” cabinet. Senator Marco Rubio, who has taken a particularly aggressive approach to China’s economic rise and is one of several US officials barred from entering the country, is said to be in line for the secretary of state. Hong Kong shares led losses in Asia on fears this will mean years of trade clashes ahead. Representative Mike Waltz, who also considers China a “bigger threat” to the United States than any other nation, appears headed for the influential role of national security adviser. Zhu Junwei, a former People’s Liberation Army researcher and now director of the Grandview Institution in Beijing, had this to say about a Rubio appointment: “It would be a nightmare come true if he got the job.”

The exodus of financial professionals from Hong Kong may finally be over as the number of licensed professionals in the city rose to a record last month. China’s Citic Securities and Izzy Englander’s Millennium Management are leading the new hire, offering support to the city, which has struggled with falling real estate and an exodus of talent in the wake of the pandemic and years of political turmoil. The rise in finance jobs follows a series of measures aimed at easing immigration – policies that have also boosted rents due to an influx of mainland Chinese and foreign nationals.