U.S. House Passes China-Sanctions Bill on Hong Kong Law

The video discusses a bill aimed at sanctioning banks linked to Chinese officials involved in Hong Kong's crackdown. The bill, similar to one passed by the Senate, awaits final approval. It responds to China's national security law, which threatens free speech in Hong Kong. The US is taking steps against China, including halting defense shipments and restricting visas. Sanctions on China's largest banks could have significant financial impacts. Additionally, the US plans to sanction Chinese officials for human rights abuses in Xinjiang, despite previous delays due to trade negotiations.

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What are the potential consequences for China's largest banks due to the sanctions bill?