Re: USA's Clean Network
Of course the internet is just IP regardless of how many intermediaries there are and cutting off this leg of the cable isn't really going to stop the traffic flowing somehow.
But one of the benefits of a direct point to point fibre link that you can achieve very low latency and we already know that stock markets will pay huge money for cutting the round trip times by a millisecond or two.
With Hong Kong being the fourth single largest stock market in the world (according to Wikipedia) I am guessing this is more about trade wars than spying.