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Emerging markets 'not immune' from credit crunch
07 May 2008
HSBC said that while having more domestic momentum, markets in Asia, China and India will not be free from the economic instability that has affected the US.
Stephen Green, HSBC group chairman, said that world growth is likely to reasonable despite the slowing down of more established economies.
"2008 is likely to be a year of caution in the financial sector until liquidity, transparency and the proper pricing of risk return to financial markets," he stated.
Further strategic investments from emerging markets into already established ones are predicted for the future.
HSBC stated that the continuing growth of world trade at a faster rate than world output and the fact that life expectancy has gone up all point to making a renewed effort to invest in Asia, China and India.
The global bank achieved, for the first time in its history, a profit before tax of over $1 billion (£0.5 billion), in addition to over $7 billion (£3.5 billion) during last year.
Source: Adfero
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