HSBC CEO Says World at ‘Tipping Point’ Following Government Debt Binges

HSBC’s CEO, Noel Quinn, warns of an impending global debt crisis, emphasizing that nations are nearing a critical “tipping point” in borrowing. This is compounded by rising Middle East tensions and potential global recession risks. Both the IMF and World Bank have highlighted alarmingly high global debt levels. Furthermore, Europe faces sluggish growth and potential inflationary issues, with recent data showing economic declines in the region, and predictions indicating a continued eurozone downturn into 2024.

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