If the chipmaker's record $773 million antitrust fine in Taiwan illustrates anything, it’s that rules are changing. No longer do small tech corporates need to be in thrall to powerful suppliers.
Taiwanese SMEs lost an estimated $6.6 billion in TRF (targeted redemption forwards) after the renminbi’s devaluation in 2015. The question now is who will pay back this money?
HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.