“There are certain assets, which have now become or be deemed national security assets such as code, gen-AI type code, such as chips, semiconductors, the most advanced types of them, such as data and cloud,” Elhedery said. “And those assets are going to fragment. Those assets are going to have national boundaries.”
Outside of that, he said “there’s a huge ocean of opportunities where business is still conducted on a cross border basis.”
The London-headquartered firm is the world’s largest trade bank and an anchor of commerce between the Asia-Pacific region and the rest of the world.
The bank has said earlier that it doesn’t expect the tariff war that has erupted globally to have a major impact on its business, and has bought back shares and made major investment in Hong Kong, one of its key markets.
See also: ‘Remote possibility’ that USD loses reserve currency status: GIC CEO
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