Hard Brexit Chance Underappreciated by Market, Hildebrand Says

The video discusses the market's reaction to Brexit, highlighting the low likelihood of the current deal passing and the potential for either a no Brexit or hard Brexit scenario. It emphasizes the market's complacency and the procedural possibility of a hard Brexit. The video also explores the strategic confrontation between the US and China, noting the risks of economic slowdown and recession. It concludes with a discussion on the potential for financial instability and the importance of managing great power competition to avoid negative outcomes.

What are the potential consequences of a hard Brexit mentioned in the text?

How does the speaker relate the current geopolitical situation between China and the US to market risks?