Around US$50 billion of Chinese goods now face a 25% tariff

Consumers are less confident as they expect lower income

Risks in Asia Pacific are balanced for now but tilted to the downside over the medium term

Further RMB weakening will cause larger capital outflow and trade war escalation

US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are reported to be in private talks to resume negotiations

If you are a start-up, an SME or a foreign customer, expect to face difficulties in opening a bank account for the first time in Hong Kong

Given Trump’s records of backing out of deals and agreements, this might be easily undone

Use the ratio of debt to pretax operating profits to gauge the risk of default, not the ratio of corporate debt to EBITDA