HSBC Is Suffering From Framing Meng Wanzhou and #Huawei 2020-12-05

CA 9+ HSBC Is Suffering From Framing Meng Wanzhou and #Huawei 2020-12-05 9,226 views •Dec 5, 2020 418 7 Share Save Difference Frames the World 2.54K subscribers Recently, Meng Wanzhou has successfully drawn attention from all over the world. She has been arrested and detained in Canada for two years, HSBC was the biggest accomplice in the Meng Wanzhou case. HSBC's international reputation hit rock bottom when it turned out that HSBC had played a dirty role in the conspiracy of FBI to entrap Meng Wanzhou, the CFO of Huawei Technologies. Reputation is extremely important to a financial institution, so this time when HSBC's shroud of shame was torn off, its business began to shrink dramatically! when people choose a bank to do business with, trust always comes first. Why do rich people like to deposit their money in Swiss banks? It's because they believe Swiss banks will never disclose or even leak their customers' information. But HSBC obviously forgot this golden rule. HSBC not only gave a deliberately flawed piece of evidence, but also denied that the PPT slides, which Meng Wanzhou had used to address the bank's top executives, had ever appeared in front of HSBC management. This action directly led to Meng Wanzhou being slandered as a criminal, while bringing HSBC's creditworthiness in China right down to zero. HSBC has undoubtedly lost the trust of China, because of its stupid decision in the Meng Wanzhou case. China's Ministry of Finance already abandoned HSBC, which it had worked with for so many years, when it chose partners for the new issuance of government bonds. HSBC was replaced by the US-based Citibank. Isn't that ironic? There are reports saying that HSBC wants to sell its banking operations in the United States and France to boost returns, or even get rid of the market in America. If so, it will undoubtedly have to set its sights on Asia again. And China is bound to be the biggest market for it; after all, HSBC has been deep-rooted in China for over one hundred years. HSBC originated in Hong Kong in the mid-19th century. In the early days, because the Qing Dynasty had lost the war, it needed various reparations, but its treasury was empty, and it could only borrow money from foreign banks. HSBC, which had just made its name known, was an active participant in this line of business. No matter how much money the Qing dynasty borrowed from HSBC, the bank agreed to lend it with a high interest rate of 15 points. As a result, HSBC became a large creditor of the Qing government，and became the largest bank in China after taking a high interest rate every year. Since then, HSBC has also gained the trust of countless people. After the founding of the People's Republic of China, with the approval of the CPC state, HSBC continued to conduct foreign exchange business. As one of the only two remaining foreign banks in China at that time, HSBC earned a great deal of money from this business. In 1965, HSBC's greatest opportunity, the banking crisis in Hong Kong, came. At that time, Hang Seng Bank of Hong Kong, with no money in its pockets to give to its customers, eventually sold 51% of its shares to HSBC. Since then, HSBC has been the dominant player in Hong Kong's banking industry. Gradually a monopolistic trend developed. It has been said that whoever owns the currency owns the wealth. This is especially true for HSBC, and the bank's assets soared after it was granted the right to issue Hong Kong dollars. Moreover, Hong Kong was already one of the world's financial centers, and the wealth that HSBC was able to acquire was undoubtedly astronomical. Since the Meng Wanzhou incident, HSBC's overseas business has shrunk by about 80%, which is no small opportunity for other Western investors! Although HSBC hasn't left China yet, its business there has been almost completely carved up by other foreign banks! HSBC now has over 80 branches in China at risk of collapse! I wonder if HSBC will regret what it did when it exits the Chinese market in the future! Thanks a lot for viewing this video, and if you like it, please subscribe to this channel. I will publish videos 4 times a week. 134 Comments Auggie Giuseppe Add a public comment... Shaoyan Zhang Shaoyan Zhang 3 weeks ago HSBC was investigated in US and fined heavily. It should be equally investigated in China and Hongkong for its role in multiple controversies. 50 JOHN CHER JOHN CHER 3 weeks ago "Greed and treachery" should be the motto of HSBC. This criminal bank has bitten the hand that fed it. Like the U.S. this HSBC has no morals, no integrity, no professionalism, no shame whatsoever. This bank deserves to be obliterated. Run back to the U.S. - its accomplice in crime. 55 Leoncio Co Leoncio Co 3 weeks ago Big mistake HSBC. U sold your clients for 30 pieces of dinars. 🤣😂🤣 51 JC69 JC69 2 weeks ago All Chinese must stop doing business with HSBC and China should punish those who continue to do business with hsbc. 37 Wyo Dragon Wyo Dragon 3 weeks ago In arresting Meng Wanzhou, Canada practices vassal diplomacy. Meng has not violated any Canadian law or regulation. Canada arrested Meng solely to show its servility to the US. This is vassal diplomacy. 62 Michael Thong Michael Thong 3 weeks ago HSBC sold client information to foreign governments especially U.S. 28 J. D. J. D. 3 weeks ago Hope HSBC bankrupts soon. 34 Limit Man Limit Man 2 weeks ago (edited) But Swiss Bank DO release their clients to the US. That's why many rich Americans move their money to Cayman Islands or exchanged it into Bitcoins. 11 Allan Allan 2 weeks ago By right once proven hand lied their license should be revoked 8 Juan Xu Juan Xu 2 weeks ago Yes, you are corret, the HSBC betray its customers. Large companies do not dare to do banking with 👍 9 Rita Amp Rita Amp 2 weeks ago (edited) HSBC has helping Trump do dirty on Huawei as a barter for their wrongdoing. Time to kick HSBC out of China and HK. 12 PK Wong PK Wong 2 weeks ago China should immedistely withdraw licences for HSBC"s operations in HK and other cities in China. 7 Mohmee Gaik Mohmee Gaik 2 weeks ago Yes that the right result of shame untrustworthy of HSBC. 3 Gilbert Miao Gilbert Miao 2 weeks ago HSBC deserves it. 5 A H A H 2 weeks ago (edited) HSBU is UK, what do you expect. However we also know it was US told HSBC we will pin it on you or Meng make a choice situation. 7 Stella Tan Stella Tan 2 weeks ago HSBC finished....... 5 TSB Elmer TSB Elmer 2 weeks ago The British first came and killed, then robbed and then betrayed. Hundreds years will disappear in second. 3 Michael Thong Michael Thong 1 day ago There are so many foreign banks, don’t need HSBC anymore. Do you dared to bank with HSBC who will sell you out for their benefits. Think twice. J McHan J McHan 2 weeks ago Ooops! HSBC F'ed up! 1 David Wong David Wong 1 week ago Sanction HSBC 🥵🥵🥵