By Kao Shih-ching / Staff reporterAlthough a US-China trade dispute has increased uncertainty in the Asia-Pacific region, Asian economies have been growing faster than in Europe and the US, a Citigroup Inc official said yesterday. However, as the trade dispute escalates, the region has moved into uncharted waters, with people looking for evidence to decide whether the macroeconomy will keep growing or fall into a recession, Staley said. Asian firms are expanding operations into Asian countries outside China amid the trade dispute, creating “Asian-to-Asian trade,” and Citi, with its networks, has been helping these multinationals operate in those nations, Staley said. “We help them with payments, cash management and other financial services. The bank faces some challenges in the region, as benchmark interest rates in Asia-Pacific are comparatively low, which increases pressure on some of Citi’s financial products, Staley said.

Source: Taipei Times May 30, 2019 15:56 UTC