[营销星球]汇丰银行-亚洲宏观经济报告：弯曲，而不是断裂-2019.10.14-107页

www.research.hsbc.comDisclosures&Disclaimer:ThisreportmustbereadwiththedisclosuresandtheanalystcertificationsintheDisclosureappendix,andwiththeDisclaimer,whichformspartofit.Q42019Economics|AsiaAsianEconomicsEconomicsAsiaQ42019By:FredericNeumannandQuHongbinAsianEconomicsBending,notbreakingTradetensionsandwobblylocaldemandareweighingongrowthinChinaandelsewhereinAsiaButfurtherpolicyeasing,bothfiscalandmonetary,willstrengthenresilienceacrosstheregion……evenifitmaytakealittlewhilelongerforgrowthtoswingbackhttps://www.hsbcscheduling.com/regform.php?id=bzVhYjI6ZzA0PTNuMGA1Economics●AsiaQ42019ThingshavebeenalittlebumpierthanexpectedacrossAsia,buttheregionisfirmlyholdingontogrowth.Exports,themainfuelofAsia’seconomicengine,havedriedup,withshipmentsfallingforseveralmonths.TradetensionsbetweentheUSandChinaareo