Economic and political shifts are forcing businesses to respond to changing international landscapes. Governments on both sides of the Atlantic are being called upon to develop legislation, regulation, and treaties that will protect and enhance the bi-lateral trade and investment relationship between the US and the UK.
On Tuesday, October 22, 2019 the British American Business Council of Greater Philadelphia hosted a business roundtable breakfast meeting about the current state of the US and UK economies and future prospects for trade and growth. This high level discussion focused on the current economic environment in the two countries, areas of growth, and realistic future market scenarios. Laura Hickey, Her Majesty’s Deputy Consul General & Deputy Head of Mission at the British Consulate General New York presided over the meeting, engaging Ryan Wang, US Economist at HSBC Securities in a dynamic discussion about the global economy and trade factors influencing commerce.
Michael Pedrick, BABCPHL President welcomed attendees and introduced the speakers. Ryan, a US economist for HSBC Securities, a principle line of business for HSBC Holdings, one of the world’s largest banking and financial services organizations, set the stage for the discussion by providing a broad overview of the global economy. Ryan is part of a worldwide team of more than thirty economists based out of New York, London, Hong Kong, and other major financial centers. He is responsible for the bank’s view of the outlook for the US economy, including projections for growth, inflation, and Federal Reserve policy. During the BABCPHL breakfast meeting Ryan talked about economic growth and recession throughout the world during the past decade, and what US GDP might look like this year.
Laura presented a general overview of the strength and resilience of the UK economy; the UK Government’s long-term economic plan to drive productivity and growth; and the Government’s ambitions for enhancing UK-US trade and the economy after the UK’s departure from the EU. Laura supports the Consul General, promoting UK economic, commercial, foreign policy and national security priorities, and consular services. She provides leadership and direction to the teams driving economic, trade and climate policy, political engagement, public diplomacy, communications and consular work as well as providing strategic oversight for the wider work of the 110 person strong team, covering a four-state area of New York, New Jersey, Pennsylvania and Fairfield County, Connecticut.
After Ryan and Laura each spoke for a few minutes about their respective country’s economic conditions, Laura engaged Ryan in a “fireside chat” about trade, slow global growth, and how this will affect the US economy, as well as other factors such as increasing protectionist policies, the EU and US trade relationship, and prospects for US-China economic relations.. Audience Q&A followed Ryan and Laura’s dialogue. Questions were related to several hot button issues such as tariffs, taxes, immigration, and the environment/climate. Conversations continued long after the meeting was adjourned as guests networked, and exchanged business cards.
Special thanks to Laura Hickey, Her Majesty’s Deputy Consul General & Deputy Head of Mission at the British Consulate General New York, and Ryan Wang, US Economist at HSBC Securities for presenting this timely symposium.
Click here to view photos from the event.
