Australian businesses are not unduly worried about the simmering global trade tensions according to one of the region's largest banks.
The survey of more than 9,000 across 35 countries found 84 per cent of Australian businesses expected their sales to grow next year, a more upbeat outcome compared to the global average of 79 per cent and the 77 per cent of businesses in the Asia-Pacific region expecting better times ahead.
"In our conversations with clients, we are hearing concerns over the impact of trade tensions and muted demand, so it's encouraging to see firms still aiming for growth," HSBC head of commercial banking in Australia Steve Hughes said.Perhaps counterintuitively, about two-thirds of Australian businesses surveyed believed they would gain more than they lost from the global push for increased protectionism and tariff barriers.
So now we're taking advice from a Chinese bank? Righto.
Australian business not worried about trade war, says HSBC. 🇦🇺😏❤️