Word: hsbc
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...increase in cheaper foreign-sourced goods can lead to inferior quality and buying decisions being made in favor of price over quality," says Peter Wong, an executive director with HSBC in Hong Kong. Vietnam, too, could lose in this scenario, as many of its manufactured products compete directly against Chinese goods on the global marketplace on the basis of lower cost...
...Still, the opportunity that the agreement opens up for Southeast Asia is huge. According to HSBC, the China-ASEAN free-trade area will encompass 1.9 billion people and a combined GDP of $6 trillion. To capitalize on this vast market, economists advise Southeast Asian companies to specialize in niche goods and services that China cannot duplicate - and to do it fast. "Given the shifting nature of China's comparative advantage, Asian countries may best re-orientate their economies towards sectors that cannot be easily replicated by China," wrote Kit Wei Zheng, a Singapore-based economist with Citigroup...
...vast appetite, yet cannot produce, according to research analyst Mark Matthews of Macquarie Securities. Low-grade electronics manufacturers in Thailand and Malaysia also stand to be beneficiaries. "These two markets are well positioned to take China's place at the lower end of the production network," says HSBC's Wong. (See the best pictures of the week...
...made something of a recovery as analysts took a second look at what Dubai's proposed repayment halt means. Eighty billion dollars - Dubai's total liabilities - may sound like a lot of money but in the context of the past year, it's not huge. And while banks like HSBC and Barclays have billions in exposure to Dubai, they are also better capitalized than they were a year ago, and thus more able to withstand hits of this size. (See the top 10 bankruptcies...
...free-trade zone would aid economic growth by cutting import duties and eliminating the murky morass of trade barriers that impedes commerce. A model to emulate would be the establishment of the E.U., which made it far easier for companies to import and export their goods within Europe, says HSBC's Webb. Establishing a common Asian currency similar to the euro would allow companies to ship goods or arrange credit with less exposure to currency risk. "A barrier to trade over the last year in Asia has been fluctuating currencies," Webb says. "For a small- to medium-sized business...