In a rare admission of the sufferings of targeted sanctions imposed by the United States, Carrie Lam, the Chief Executive of Hong Kong told the media that she had lost all banking services and had to transact solely in cash. Defying the US sanction by any commercial bank, even if that was wholly-owned by Hong Kong nationals, would have meant the end of their global business. The abovementioned sanction which Ms Lam has been subjected to is known as Magnitsky Act. It allows imposition of sanctions against individuals and entities accused of serious human rights violations and corruptions. The outgoing Trump administration has already used this act to slap sanctions including travel ban and freezing assets in US over 500 individuals and companies from across the world. Majority of those in the lists are from within the American continent, Russia and China. The apparent success of this smart sanctions tool seems a preferred choice for Western democracies. Human rights groups like Hu...