people's republic of china. >> it's clear the prc seems merely not to join the ranks of industrial economies but to replace them altogether. >> u.s. speaking out against beijing's menacing china's policy warning that the u.k.'schinese telecom firm and taking measures against china's crackdown on pro-democracy forces in hong kong, blasting china's mishandling of the coronavirus, reportedly considering sanctioning all chinese communist party members. >> the targeting of beijing but president trump election year bravado bringing attention from perceived domestic weaknesses. if you will note that there's complaints against china to go around. >> we are watching the world unite to come to understand the threat from the chinese communist party. >> beijing railing against the oppressive washington and they say they hope to hang onto the u.s.-china trade deal and they're making their own threats. >> china must resolutely say no to the u.s. side bullying and unfairness. if we are determined to take action and defend our sovereignty and security in the developmental interest. >> even if there is change at the white house this fall, the tone of the u.s. china dialogue might change and otherwise the problems will remain

people's republic of china, hong kong special administrative region. the politics and the reality have changed in hong kong. how will the imf adapt to a new hong kong? --sat to be with you jeffrey: it's great to be with you here this morning, tom. thanks. we are still sorting through the broader implications, but suffice it to say that the hong kong business model has been challenged by the actions taken on both sides here and one thing that is important to remember is that hong kong is an important place for the world to transact. it's an important financial gateway for china and for the rest of the world and at some point people have to balance or figure out how they weigh these things in their mind as they go forward. studies on you've donency, this in your term, how will they adapt to the communist party in hong kong? is it the significant but simplistic idea that hong kong will pick up the business or will there be gains for others? it's a chance for other firms to decide what they are doing with what's going on. asia is a big place. the question is going to be which place sets the conditions right for the capital to flow? hong kong has proven itse