Banks Are Facing a Squeeze From Trump's Trade War
Source: Bloomberg
For banks that finance trade in Asia, the tariff war between the U.S. and China couldn’t come at a worse time.
Lenders globally have faced declining revenue from the $9 trillion business of funding cross-border commerce for five years running, thanks to a drop in margins that is persisting in Asia. Now, as the trade dispute between the world’s two biggest economies intensifies, the risk is that volumes decline, worsening prospects for the top banks in the region including HSBC Holdings Plc and Standard Chartered Plc.
“It’s going to be a very challenging story, especially for those in Asia who are trying to grow the business,” said Eric Li, research director at Coalition Development Ltd. in London. “There are a lot of traditional players chasing the shrinking pie.”
The U.S. last week pushed ahead with plans to impose tariffs on a further $200 billion of Chinese products by releasing a list of targeted products, President Donald Trump’s latest salvo in a conflict that China calls the “the largest trade war in economic history.” While some bankers say it’s too early to determine the impact of the dispute on trade flows, the implications for lenders in the industry could be serious if shipments weaken.
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Read more: https://www.bloomberg.com/news/articles/2018-07-15/banks-funding-9-trillion-face-squeeze-from-trump-s-trade-war
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in the foreclosure market, and millions of families got the big screw, and the taxpayers got the 800 billion screw, and not one banker went to jail, and now the statue of limitations is now in effect, and we can't do anything, I believe, and now the sexual predator son n law is putting the squeeze on people in an apartment complex he just bought..............
Thats why I belong to a credit union, I and thousands of others own it................
