Posted 11/7/2023, 6:05:00 PM
Hong Kong Banking Summit Highlights Fears of High Inflation, Shadow Banking Risks, and Potential Financial Crisis
- Banking executives at Hong Kong summit expressed concerns about further inflation, new financial crisis
- Fears of extended high interest rates to curb inflation, more geopolitical escalations causing market shocks
- Warnings of risks from ballooning national debt, deglobalization fueling inflation
- Concerns over rise of shadow banking system, next crisis predicted in shadow finance sector
- Event hosted as Hong Kong aims to revive business after protests, pandemic lockdowns, shrinking investment