The Chinese government has reportedly deployed troops to the border with Hong Kong SAR, nominally to provide support to local police in the light of worsening protests. There’s the risk that a further escalation could lead to a reduction in Hong Kong’s autonomy. In turn the U.S. may choose to act either via ending trade negotiations – which could lead to widespread tariffs – or the removal of Hong Kong’s trade privileges by the U.S. Senate. Hong Kong’s exports in total already fell 2.1% year over year in the three months to May 31, accelerating to 8...