Published August 15, 2011
Market turmoil has stalled inflation’s rise, but real solutions are needed
David Li, CEO of Bank of East Asia, Hong Kong, feels that market turmoil has been a wakeup call for US and EU governments to address debt issues and structural problems.
I do not see major new risks for banks in the region arising from the US downgrade; I see the turmoil more as an act of frustration at the inability of governments to address sovereign debt. The root of the problem is not in Asia; we are largely bystanders. We have not changed our business outlook f...