Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Unlock the editor’s digest in free
FT editor Raula Khalaf selected his favorite stories in this weekly newsletter.
GAccording to HSBC Chairman Sir Mark Tucker, Lobalization “can now manage it” in its current form, said that trade and geological tension would lead to strong economic relations between regional groups and trade blocks.
In a speech at the Global Investment Summit in Hong Kong on Tuesday, Tucker said in a speech that trade tension created uncertainty that created “serious potential for global growth”.
Since taking charge in January, US President Donald Trump has hit the main trade partners, including China, Canada and Mexico, and is expected to impose further after his administration on April 2 “Mutual tariffs” In countries around the world.
Money says the “deep and deep change period” in the world trade, economic policies and international security systems.
“We consider the current developments … We believe that globalization as we knew it was the way it was now,” he said.
He added, “As a result of the economic consideration of the best of the skilled supply chains, we have seen one of the best periods in the world. The balance of economic power has changed as a result and what was sustainable,” he added.
The money did not mean that the world would do “registration or geo-freezent and de-Globalize”, but there would be new opportunities and more powerful economic relations between various “political teaming and trade blocks”, which include “BRICS-Plus Group of Countries”, which would trade with each other.
HSBC Global Trade Finance is the main participant. According to its recent annual report, its trade business has been first placed by revenue for the past seven years, which quotes the statistics obtained from the Coalition Greenwich competitive analysis.
It has conducted its activities, including separated from the geographical lines in recent months as well as the two units, one of which focuses on Asia and the Middle East and the other on Europe and America.
Tucker said that economic connection between Asia and the Middle East, the main focus for the bank, maybe “more” in the coming years.
The BRICS group comprising Brazil, Russia, India, China and South Africa has expanded to include Iran, the United Arab Emirates, Egypt, Ethiopia and Indonesia.
“The growing trade and financial connections of this economy with other regions of the emerging world suggest that there may be significant growth spillover,” said the money.
He said that the BRICS group was building institutions that would be involved in strength, trade, finance, supply discipline and technology, adding that “the more emerging markets in geo -political tensions will probably join the BRICS to build more close relationships and achieve stronger voices on the world stage”.
