Dubai: Some Perspective from HBC

Good interview here with Arjuna Mahendran from HSBC (HBC). While markets appear to have panicked over the Dubai news, this default (assuming it even occurs) would actually be a very small bump in the road, in terms of the bigger picture. It is, however, a reminder of the difficulties that we are likely to encounter in the coming years. The problem of debt is still very much alive.

Dubai’s debt problems are merely “a blip”, says Arjuna Mahendran, managing director and head of investment strategy Asia at HSBC Private Bank. He shares his outlook, with CNBC’s Martin Soong & Sri Jegarajah.

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Comments

[auto44]

This guy is selling his backside off. Smart money my behind. This is just another symptom of the condition the worlds finances are in. The tower there is 90% sold out. Yippee! The badnews.............50% are in foreclosure. Annd thaaats the rest of the story.

2009 Nov 28 10:11 AM

[Moon Kil Woong]

I respect Dubai for not throwing good money after bad if they do in fact not cover their losses with their own country's taxpayer's money. The best thing to to with lagress is let the free market burn it off. If only America could stop feeding the pork clinging to its body we would be a bit thinner but a lot healtier going into the future.

2009 Nov 28 03:28 PM

[tobi]

HSBC is their major foreign creditor, he has no credibility.

2009 Nov 29 10:33 AM