Cathay's mayday

摘要

As the trade war chips away at its allure, China wants to retain the affection of foreign businesses. It has promised to level the playing field between them and their domestic rivals. This pledge is meant as reassurance that Chinese firms will receive no special favours. But it has taken on a different light over the past week, in the wake of China's assault on Cathay Pacific, Hong Kong's flagship airline. China is taking a hard line against foreign companies that displease it, lashing out at their bosses and demanding obedience, much as it wields control over domestic enterprises. Firms in Hong Kong are in the cross-hairs, but it would be a mistake to think China will stop there.