SWIFT is a Europe domiciled company, so it's under EU jurisdiction.
Yeah I read some of my old etherpad (internal journaling) posts when COVID first hit and never in my wildest dreams did I think US would be the worst affected and that China wouldn't even end up in the top #20 lists.
Dont bet into this. Even if Biden wins, it maybe just a temporary truce with China relationship. Plenty of Trump wannabes in both sides sides of the aisle, will always peddle this anti China rethoric as a very viable political agenda. Just look at Cotton, Rubio, even Pelosi.Biden will hire a bunch of ex-Obama foreign policy officials as part of his cabinet.
So I fully expect within 1-2 years, the Tariffs will be removed, Wang Mengzhou released, Consulates restored, ban on Huawei lifted, and discriminatory aggressive rhetorics will significant subside.
The most recent escalations is mostly driven by Jabba the Pomp and his minion Navarro (China-hawks) knowing his boss is unlikely to win re-election, so they wish to poison the relationship and provoke a China response.
Rest assured, most of these actions will be rescinded/changed upon a Biden administration. Biden will just be more smart like TPP-style containment of China, not the style of Trump's overt brashness. Biden will still treat China as a strategic competitor, but significant room for cooperation.
Oh yea. I remember articles from Westerners saying China's lockdown measures are 'draconian' and 'counter-productive' and 'makes things worse' and how 'CCP prestige and legitimacy' is undermined (regime change implications). Meanwhile, China had short-term pain, but is now fully re-opened. US has long-term pain with haphazard re-opening and closings and highest burden of disease.Yes, it was even 6 months ago when China tops the chart for death rates and infection rates day in and day out. The western MSM were saying how rubbish China was, and how this is going to hurt China. Etc.
Then all of sudden, first Italy, then Spain surpass China, and within weeks China dropped out of the chart.
China managed to suppress the virus due to draconian measures, we all seen from our posts of lockdowns and building hospitals. Sending troups in on Y 20s (My personal fav) the lockdown measures by China was criticised for. Yet, a few months later, Italy and rest of Europe was on the same draconian measures. Lol.
During this time, USA was still debating to wear masks or not! And Trump even held a rally! Now he blames China for everything! Lol
Dont bet into this. Even if Biden wins, it maybe just a temporary truce with China relationship. Plenty of Trump wannabes in both sides sides of the aisle, will always peddle this anti China rethoric as a very viable political agenda. Just look at Cotton, Rubio, even Pelosi.
There is no turning back into the old relationship. Plenty of damages are already done. We should prepare for the worst.
However SWIFT complies with US decisions and disconnect the banks that are subject to US sanctions. From 2018 SWIFT comply with US sanctions on Iran even despite to EU objections.
Oh yea. I remember articles from Westerners saying China's lockdown measures are 'draconian' and 'counter-productive' and 'makes things worse' and how 'CCP prestige and legitimacy' is undermined (regime change implications). Meanwhile, China had short-term pain, but is now fully re-opened. US has long-term pain with haphazard re-opening and closings and highest burden of disease.
Notice those anti-China articles on China's lockdowns are all quiet after Spain,Italy, USA adopted similar lockdowns? (that apparently "Democracies can't implement" but they did) So many excuses, so embarassing. This pandemic is a great equalizer and really exposes the real flaws in every country.
Even New York Times paddles in fake news, if you are not paying attention.
It is EU regulation 267/2012 that provide the basis for Belgium authorities to give green light to SWIFT, not because BunkerBoy demanded it on silver platter. There're shareholders' money and interest that you need to consider FFS.