A versatile FiSCo corporate research reporter's miscellaneous column Masabuchi's Eye | Episode 7: China's Belt and Road shows continued expansion despite COVID-19 — USDJPY wary of risk-off — [Mariko Mabuchi]
Profile of Mariko Mabuchi
Mariko Mabuchi. 7 years of investing experience. During the early phase of Abenomics she was entrusted with asset management at a company, then after three years as a full-time trader, she became a corporate research reporter at Fisco. Currently, she also handles marketing duties at Japan Cloud Capital. She graduated from Doshisha University Faculty of Law, studied at Kyoto University Graduate School of Public Policy, and holds a Master’s in Public Policy. She won Miss Doshisha during her university days.
Official blog：https://ameblo.jp/mabuchi-mariko/
Twitter：https://twitter.com/marikomabuchi
※This article is a reprint/re-edit of an article from FX攻略.com October 2020 issue. Please note that the market information written herein may differ from current market conditions.
◆ Existence of Countries Expressing Support for the Hong Kong National Security Law
The dollar-yen has been moving with small fluctuations, but around the world the spread of the novel coronavirus continues and caution is rising. In addition, risks are becoming internalized as countries take a tougher stance toward China, which may gradually lead to a risk-off trend in the market in the future.
Following the enforcement of the Hong Kong National Security Law by the Chinese government to tighten control over Hong Kong, on June 30, 27 countries including Japan, the United Kingdom, France, and Germany issued a joint statement at the United Nations Human Rights Council in Geneva expressing concerns toward China. Furthermore, U.S. Secretary of State Mike Pompeo announced at the end of June restrictions on visas for Chinese Communist Party officials and on exports of defense-related technology and dual-use technology to Hong Kong on par with the mainland.
Meanwhile, in the same meeting, Cuba, representing 53 countries including Egypt, Ethiopia, and Turkmenistan, expressed support for the Hong Kong National Security Law. The international community appeared divided over China's Hong Kong policy. Even Saudi Arabia, a country with a pro-U.S. image, was among those expressing support for China, which was an unexpected result.
