Europe’s Negative Rates ‘Do Not Work’ for Banks: HSBC CEO

The video discusses the European economy's struggle with negative interest rates and the transition from Mario Draghi to Christine Lagarde. It highlights the challenges European banks face compared to U.S. banks, which benefited from fiscal stimulus. HSBC and UBS are focusing on cost reductions, with HSBC leaning into its Asian business due to higher yields and profitability challenges in Europe.

Discuss the significance of HSBC's focus on its Asian business.

What does the term 'normalized monetary economics' refer to, and why is it relevant?