US-China relations are It’s set to be just as hostile as expected, with President-elect Donald Trump set to appoint two well-known China hawks to key roles as he begins to shape 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 banned from entering the country, is said to be in line for the position of secretary of state. Hong Kong stocks led losses in Asia on fears it could spell years of trade conflict ahead. Representative Mike Waltz, who also considers China a “greater threat” to the US than any other country, 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, said this about appointing Rubio: “It would be a nightmare come true if he got the job.”

The Exodus of Hong Kong financial professionals in May finally 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 hires, providing support to the city that has suffered a real estate collapse and a talent exodus in the wake of the pandemic and years of political unrest. The increase in finance jobs comes amid a series of measures aimed at easing immigration – policies that have also driven up rental prices due to an influx of Chinese nationals and foreign nationals.