Hong Kong CNN —Diversification away from China is increasing, and it doesn’t just affect foreign companies, according to HSBC CEO Noel Quinn.
HSBC (HSBC) is the world’s largest trade finance bank, with a focus on Asia, meaning it helps importers and exporters carry out transactions.
For decades, China has enjoyed rapid economic growth thanks to its status as a global trade and manufacturing powerhouse.
So its supply chains and its supply to the world is going to change over the next 10 to 15 years,” noted Quinn.
De-risking, meanwhile, may be harder to detect, as “there is no single economic data series that can effectively capture companies’ decisions to intentionally reduce their real economic exposure to China,” according to the report.
Persons:
Noel Quinn, Quinn, ” Quinn, ”, —
Organizations:
Hong Kong CNN, HSBC, Bloomberg
Locations:
China, Hong Kong, Singapore, Asia, Vietnam, India