Channel Eye
Westminster Asset Management
  • Business
    • Appointments
    • Data Protection
    • Digital & Technology
    • Environment
    • Features
    • Financial Services
    • Interviews & Profiles
    • Leadership
    • Legal & Professional Services
    • People
    • Property
    • Retail & Hospitality
    • Transport
    • Wellbeing at Work
  • Careers
  • Events
    • Events in Jersey
    • Events in Guernsey
    • Events in Isle of Man
    • Events in Alderney & Sark
    • Virtual events
    • All events
    • Past Events
  • Lifestyle
    • Arts & Culture
    • Charity & Community
    • Education
    • Food & Drink
    • Health & Wellbeing
    • Home
    • Leisure
    • Travel
  • Location
    • Jersey
    • Guernsey
    • Isle of Man
    • Alderney & Sark
  • Advertise
  • Subscribe
No Result
View All Result
Channel Eye
No Result
View All Result
Westminster Asset Management
Home Business

Global protectionism trends are opportunity for Channel Islands, says bank chief

May 9, 2018
in Business, Financial Services, Guernsey, Isle of Man, Jersey
HSBC
Share on LinkedInTwitterFacebookEmail

The Channel Islands have an opportunity to play a key role in supporting the growing number of businesses who are concerned about protectionism but who are optimistic about their international business prospects, according to HSBC’s Head of Commercial Banking in the Channel Islands and Isle of Man.

A new report from HSBC, ‘Navigator: Now, next and how for business’, surveyed 6,000 firms globally and found that three in five (61%) think governments are becoming more protective of their domestic economies.

This sentiment is strongest among companies in the Middle East and North Africa (MENA) (70%), and Asia-Pacific (68%). In the USA, 61% believe protectionism is on the rise, while in Europe, half (50%) are seeing a rise in protectionist tendencies.

The survey also found, however, that firms are focused on growth, with more than three in four (77%) businesses optimistic about their international business prospects, and expect the volume of trade to increase over the next 12 months.

Emerging economies were found to be significantly more optimistic (69%) than developed markets (53%), whilst Asia-Pacific, where both Guernsey and Jersey have developed strong links over the past decade, has the most positive outlook (82%).

Reasons behind this confidence include an increase in demand for their products from consumers and businesses (33%), favourable economic conditions (31%) and the greater use of technology (22%) in driving growth.

Commenting on the findings, Warwick Long, Head of Commercial Banking, Channel Islands and Isle of Man, said: “Overall, companies are showing remarkable agility in navigating the changing trade policy landscape. An increase in protectionist sentiment hasn’t hampered the optimism of firms globally, but is causing concern about the cost of doing cross-border trade and international business.”

“These findings should resonate with firms in the Channel Islands, given the ability we have here to work with internationally-dynamic firms to provide them with the secure, safe and expert cross-border services they are clearly looking for to help them grow.”

“There are particular opportunities for the islands to pick up their market share in the bullish Asia Pacific and the Middle East markets by supporting cross-border activity such as China’s Belt and Road Initiative. Meanwhile, the emphasis the islands place on digital innovation will also be vital, with this survey showing technology as a key driver behind international growth.”

ShareTweetShareSend

Channel Eye Media

Related Stories

Silk Road Artists’ Rendezvous – opportunity to join China tour for foreign artists
Arts & Culture

Silk Road Artists’ Rendezvous – opportunity to join China tour for foreign artists

August 16, 2023
Nancy Chien
Legal & Professional Services

Bedell Cristin share insights into Jersey trusts and foundations with Chinese lawyers

July 24, 2022
Davy Guan
Legal & Professional Services

Ogier becomes first offshore law firm to launch in Beijing

February 10, 2022
Next Post

Jersey law firm named Super League Triathon partner

Skipton International
Channel Eye subscribe
  • Channel Eye
  • Channel Eye Careers
  • Channel Eye Careers
  • List your event
  • Channel Eye Careers
  • Channel Eye
  • Channel Eye Careers

Be the first to know​

Subscribe to the essential islands business news, direct to your inbox every morning​
  • JT Jersey Telecom event
  • Butterfield
  • Business
  • Careers
  • Events
  • Lifestyle
  • Subscribe
  • Advertise
  • Privacy Policy
  • Contact

©2025 Channel Eye Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Business
    • Appointments
    • Data Protection
    • Digital & Technology
    • Environment
    • Features
    • Financial Services
    • Interviews & Profiles
    • Leadership
    • Legal & Professional Services
    • People
    • Property
    • Retail & Hospitality
    • Transport
    • Wellbeing at Work
  • Careers
  • Events
    • Events in Jersey
    • Events in Guernsey
    • Events in Isle of Man
    • Events in Alderney & Sark
    • Virtual events
    • All Events
    • Past Events
  • Lifestyle
    • Arts & Culture
    • Charity & Community
    • Education
    • Food & Drink
    • Health & Wellbeing
    • Home
    • Leisure
    • Travel
  • Location
    • Jersey
    • Guernsey
    • Isle of Man
    • Alderney & Sark
  • Advertise
  • Subscribe
  • Contact

©2025 Channel Eye Limited.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.