WASHINGTON—As U.S. officials weigh sanctioning China over its recent moves in Hong Kong, the city’s status as a global financial center limits the menu of effective levers available to Washington.
Major actions against Hong Kong’s financial system risk hitting U.S., Western and Hong Kong companies and consumers, officials and analysts say. More targeted sanctions against Chinese officials and trade measures against products made in Hong Kong would have little impact on Beijing’s integration of the city into the mainland’s…
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