Following in the grand media tradition of running biased reports about old news in an attempt to generate a feeling of consensus and progress about the issues of the day, Hong Kong’s Headline News — one of the half-dozen Metro clones you can grab for free to read on the train to work — printed a FATCA article this morning, apparently apropos of nothing. There’s no new developments to report, so they just repeat the same old half-truths in an increasingly skewed manner.
The article features interviews with diverse sectors of society such as banks and tax consultancy firms. Only a few unimportant voices are missing, such as the government bureau which is allegedly supposed to be formulating the policy response to FATCA, or accountholders who might be affected. Unfortunately it’s the first news we’ve seen here in months, so I’ll translate it anyway as part of the ongoing project of Kremlinology in trying to figure out what exactly my adopted hometown’s response to FATCA is going to be. Continue reading