Aug 6, 2018
HSBC 'cautiously optimistic' about growth despite trade tensions
The bank said Asian economies remained robust despite growing trade tensions. China is embroiled in a trade war with the US, which is escalating, and could derail global growth. In June, HSBC's new chief executive laid out a growth plan which involved greater investment in China. Mark Tucker, group chairman, said in a statement: "We remain cautiously optimistic for global growth in the remainder of the year. In particular, the fundamentals of Asia remain strong despite rising concerns around the future of international trade and protectionism." John Flint, who was appointed chief executive earlier this year, said in June HSBC would invest between $15bn and $17bn over the the next three years in areas such as technology and China.
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