Latest US sanctions on Hong Kong draw a collective shrug from analysts

‘They’re running out of things to do,’ former US consul general in Hong Kong says after seven deputy directors in the Hong Kong Liaison Office are sanctioned

Moves are seen as symbolic, with White House caught between pressure to respond to Beijing’s clampdown and a business community still seeking market access

“It’s the dog that doesn’t bark. We’re not sanctioning banks,” said Bonnie Glaser, Asia director at the George Marshall Fund. “What are the things we could do that really have some consequences? You don’t see us doing anything in that area.”

Reluctance to go that far, dubbed the “nuclear option” by some, appears to reflect a calculation by US President Joe Biden that either the cost would outweigh the benefit, or that he doesn’t have the necessary support from allies – or a combination of the two.