Alicia García Herrero

Chief Economist for Asia Pacific, Natixis

Alicia García Herrero is Chief Economist for Asia Pacific at Natixis. She also serves as a senior fellow at the Brussels-based European think-tank Bruegel and a non-resident senior fellow at the East Asian Institute of the National University Singapore. Alicia is also an adjunct professor at the Hong Kong University of Science and Technology, a member of the Council of Advisers on Economic Affairs to the Spanish government, and an adviser to the Hong Kong Academy of Finance's research arm, the Hong Kong Institute for Monetary and Finance Research (HKIMR).  



A Chinese national flag flies in front of HSBC headquarters in Hong Kong, China, 28 July 2020. (Tyrone Siu/Reuters)

A geopolitical read of HSBC’s potential split-up

While the drama over a potential split-up of HSBC is still unfolding, what is clear is that geopolitical tensions may raise the stakes on potential financial decoupling down the road. Mixed West-East financial institutions such as HSBC stand at the forefront of the transitions and realignments under way.
An armoured vehicle of pro-Russian troops is seen in the street during Ukraine-Russia conflict in the southern port city of Mariupol, Ukraine, 11 April 2022. (Chingis Kondarov/Reuters)

China's pro-Russia stance in the Ukraine war could negatively impact the Chinese economy

The immediate impact of the Ukraine war on the Chinese economy remains limited except for high commodity prices, assesses economist Alicia García Herrero. But the full impact will depend on the political decisions China makes on the Ukraine war. China seems keen to abide by the letter of the law to comply with Western sanctions on Russia, but not so much in terms of the spirit of the law. By taking risks and helping Russia as much as it is able to, will it get caught in the crossfire between the West and Russia?