Markets have kept shrugging that news off, as have HK bankers: "Mo wentai" has been the mantra ("No Problem"). They weren't rattled by the imposition of the new national security law; they weren't rattled yesterday by Beijing stating pro-democratic/localist forces in Hong Kong could be breaking that law in trying to win a majority in September's election; yet, according to Bloomberg, now that Beijing has just imposed its own taxation on its overseas citizens, "Bankers Shocked by 45% China Tax Rate Mull Leaving Hong Kong". This rather makes the point about how it's hits to people's pockets that really moves the Cold War dial nowadays, not grandiloquent statements like "Ich bin ein Berliner".