汇丰：全球经济-不均衡态势

By: Janet Henry and James Pomeroy Economics Global www.research.hsbc.com Q3 2025 Global Economics Uneven ground Frontloading ahead of US tariffs lifted global growth in Q1 but more US tariffs loom… …while complex US trade and fiscal negotiations are ongoing, and major conflicts are still under way Disclosures & Disclaimer: This report must be read with the disclosures and the analyst certifications in the Disclosure appendix, and with the Disclaimer, which forms part of it. Economics ● Global Q3 2025 Execut ...