It was 2003 as HSBC talked about experting the “Household Model” of predatory lending to other countries. Even through early 2006 the Household Model seemed like a rosy idea to HSBC. By 2007 it was a horribly different story. But securitizing debts in countries other than the US and UK may soon be on the table once again.
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When HSBC thought it was fashionable to look for profits in the Middle East, many people thought economic woes in the US and UK could not touch Arab nations. In fact, newspaper report orginally stated that the Middle East did not suffer from the world economic crisis. That is not true.
Category: Emerging Markets
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Should China have a global currency? What is HSBC’s stake? China is beginning an ambitious scheme to raise the role of the renminbi in international trade and finance and to reduce reliance on the US dollar,” said Qu Hongbin, China chief economist at HSBC.
Category: Emerging Markets
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HSBC has decided to stop its retail lending in Hungary and end its activities in the country within three years, laying off 282 staff, Index.hu reported on Tuesday.
Category: Emerging Markets
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First it was the United States. Now it is Mexico with new credit card laws. In May, Mexico’s Senate approved a proposal to curb hefty credit card interest rates and limit account maintenance fees and other bank charges. The country’s lower house has yet to vote on the legislation.
Category: Emerging Markets
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