Former HK Central Bank Chief Says US Sanctions ‘Crazy’

Hong Kong’s former central bank chief Joseph Yam Chi-Kwong said US sanctions on Russia are ”stupid and crazy” and will undermine the US dollar’s status as the world’s reserve currency, the South China Morning Post reported.

Yam said the US government has “weaponised” the financial markets, criticising it as well for banning investments in some Chinese companies on grounds of national security. “These are like capital controls or restrictions on people to use the US dollar or the international financial infrastructure,” he said. “I think the Americans are getting crazier in this regard,” the story quoted him saying. Full story: South China Morning Post.

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.