Asia’s 1997 Echo—But This Time, AI Demand Is the Risk

‼️ HSBC’s chief economist says rising U.S. yields, a weak yen and tech optimism echo the conditions preceding the 1997 Asian financial crisis, though today’s key risk is a slowdown in U.S. AI demand that could hit Asia’s electronics exports. Still, he argues the region is better insulated, with many economies now exporting capital rather than relying heavily on foreign funding.

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