Quote | Super Quote
24239 SG-HSBC@EC1605A (CALL)
RT Nominal unchange0.010 0.000 (0.000%)

27/04/2010 18:12

HSBC's (00005) Geoghegan sees turn for Asia & Latin America

HSBC's group CEO Michael Geoghegan said the world's
centre of gravity is steadily shifting east and south, the view the bank has held since
several years before the crisis.
Geoghegan wonders, in a few years time, who'll remember the G7. But he is sure that all
will remember the E7 - China, India, Brazil, Russia, Mexico, Indonesia and Turkey.
"Emerging markets are set to grow three times faster than developed ones this year," he
said in a speech to the American Chamber of Commerce, "But many Western nations will
struggle for some time, and we could see further setbacks, particularly in Europe."
He also expects the economic firepower of emerging markets will overtake the developed
world - measured by purchasing power parity - within three years.
Apart from BRIC, Geoghegan also loves the new BRICS, or CIVETS: Colombia, Indonesia,
Vietnam, Egypt, Turkey and South Africa. He noted that each has large, young, growing
population. Each has a diverse and dynamic economy, and is politically stable.
Geoghegan also noted that in this decade, both emerging market assets and China's
currency (Renminbi) are coming of age.
"Personally, I believe the twenty-tens will bring about the close of the Western-centric
mindset.", he concluded. (KL)

Remark: Real time quote last updated: 29/04/2016 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2012 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.