汇丰银行-亚太地区-银行业-亚洲银行业2020：失败也是一种选择-2019.12.5.pdfVIP

5 December 2019 THIS CONTENT MAY NOT BE DISTRIBUTED TO MAINLAND CHINA Asia Banks in 2020 Fixed Income Asia Credit Failure is an option  China and India’s financial systems are facing unprecedented Devendran Mahendran funding challenges, but for different reasons Senior Analyst, Sovereigns and FIG The Hongkong and Shanghai Banking Corporation Limited devendran@.hk  Top-down support is not what it used to be; we think it is time +852 2822 4521 for investors to rethink their approach to risks in the financial Dilip Shahani Head of Global Research, Asia Pacific landscape The Hongkong and Shanghai Banking Corporation Limited dilipshahani@.hk +852 2822 4520  Asia’s slowing credit growth reflects a weak investment Zoe Fang outlook; stick with the familiar and