“The ongoing strained conditions faced by the real economy could give rise to contagion effects on other vital sectors in Hong Kong, including the financial services sector that contributes significantly to the gross domestic product.” said Pierre Latrobe, Director of Financial Services at Mazars in Hong Kong, in his article published in FutureCFO.
It has been more than one year since the US initiated the trade war with China and increased American tariffs. More recently, Huawei was dragged into the dispute.
Yet, this is not a China-US issue only. The trade war impacts global import and export markets, disrupting supply chains around the globe.
This negative trade situation increases uncertainty, affects business and consumer confidence, restrains investment and adds stress to the financial sector and capital markets.
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Credits: article by Pierre Latrobe (FutureCFO, 15 August 2019)