Global Markets Won’t Split, Says HSBC Chief, Warning That Only Advanced Tech Will See Barriers

At the 2025 Bloomberg New Economy Forum in Singapore, HSBC CEO Georges Elhedery dismissed the idea of competing global financial systems emerging in the near future. He argued that despite geopolitical tensions, the financial world remains deeply interconnected, with U.S. companies thriving in markets such as China and India and repatriating significant profits. Elhedery said the core fabric of global finance is resilient and unlikely to fracture, even though highly strategic assets like advanced chips, Gen-AI code, data and cloud infrastructure will increasingly sit behind national boundaries. Beyond these restricted areas, he emphasised that cross-border business remains strong and will continue to offer vast opportunities.