The second day of the HSBC Global Investment Summit explored the new networks of finance and trade that are rewiring the global economy.
Michael Roberts opened Wednesday’s session. He said a decade of volatility has strengthened business and investor resilience, accelerating three trends: a rewiring of globalisation, innovation in cross-border flows, and Asia’s rise as an economic centre.
These themes were picked up by Dr Janet Yellen, who shared her views on inflation trends, monetary policy outlook, as well as the future status of the US dollar.
Finance in a changing world
We moved from policy to portfolio, in a conversation with Bob Prince, Chair of the Board and Co-Chief Investment Officer, Bridgewater Associates. With Ida Liu, he talked about the dynamics of global asset allocation as risk and volatility remain elevated.
The evolving function of stock exchanges was the subject of the next session, which brought together leaders from three of the world’s most significant bourses: Hong Kong Exchanges and Clearing, the London Stock Exchange, and the New York Stock Exchange.
Paul Chan, Financial Secretary of the Government of the Hong Kong Special Administrative Region, described how the city’s role as an international financial centre provides stability amid global uncertainty.
Understanding digital assets
The Summit continued to show how the future of finance is already here.
A panel spanning traditional and digital market infrastructure, plus a senior policymaker, talked about who will set the rules - and capture the economics - of digital assets.
In terms of specific assets, we heard the Co-Founder of Circle describe how stablecoins are becoming the settlement and liquidity layer that underpins the digital assets market.
A separate session built on this theme by investigating the institution-grade infrastructure that will enable investors and other market participants to move, manage, and settle digital assets at scale.
Allocating to alternatives
Leaders in alternatives focused on the growing status of private assets as a core holding.
The rise of private credit was highlighted by Michael Arougheti, Co-Founder and Chief Executive Officer of Ares, who shared how it’s reshaping long-term returns.
Infrastructure landed as a growing investor focus, with a diversified power producer CEO discussing how private capital can help close the funding gap.
While Asia featured as a hub for private capital, with insurance and asset management CEOs discussing where they see the biggest opportunities.
Reinventing global trade
As the sessions progressed, we looked at how global trade is being reshaped by geopolitical volatility, shifting regulation, and supply-chain realignment - making trust more important than ever.
We examined how energy shocks and commodity supply pressures could influence growth and monetary policy, and what policymakers can do ahead of the next cycle. In a separate discussion, Prof. Kenneth Rogoff assessed the outlook for the US dollar.
The Summit closed with luxury leaders on how premium brands are moving into digital while protecting culture, creativity, and long-term value.
