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China all set for good growth in 2018

As China aims to shift from quantity to quality economic growth in 2018, it aims to foster high-quality job creation in fields like robotics and artificial intelligence (AI), while forestalling global financial risks. Will 2018 still see China regain its old dominance of global growth? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in China Daily – Asia Weekly. The world economy is poised for an upturn. This is not only due to China’s economic success. Perera remarked that the decrease in the headline US corporate tax rate from 35% to 21% – one of the lowest in the developed world; and Japan’s economic reforms under Prime Minister Shinzo Abe are some of the contributing factors to the improved global economic outlook in 2018. Moreover, disruptive technologies such as drones and AI will give rise to employment opportunities globally in new sectors, compensating for eliminated traditional jobs. However, this movement depends on ho

ASEAN trade grows from strength to strength

As ASEAN trade grows rapidly, so does its economic clout – the combined Gross Domestic Product (GDP) of the region is set to reach USD3 trillion by 2024, making it among the top ten economies in the world were it a single country. What key trends will emerge as ASEAN trade forges ahead? Leon Perera, Chief Executive Officer, of Spire Research and Consulting shared his insights in China Daily – Asia Weekly. The share of intra-ASEAN trade out of the region’s total trade has grown to over 27% in 2014 from 17% in 1990. The ASEAN region continues to be an export-oriented global manufacturing and services hub for thousands of multinationals. Economic growth has led to the rise of the upper and middle classes and an increase in the consumption of luxury goods. Perera noted that Southeast Asia still imports aircraft and industrial equipment from Europe and the U.S. Moreover, toys and consumer electronics continue to be heavily imported from China. So there is no question of ASEAN beco

India’s ‘hairy’ exports for Africa

Renowned for its beauty, texture and strength, the Indian hair export market is worth about USD393.5 million. With rising demand in the African subcontinent for extensions and wigs, Indian companies are now keen to invest into the hair business more than ever. The recent announcement of South Africa-based hair extension company Friska Hair being acquired by Godrej Consumer Products India shows that hair export is serious business. One driving factor is Africa’s young and growing population, which helps ensure that consumer spending grows in lockstep with GDP. This is good news for Indian hair exporters. https://www.spireresearch.com/newsroom/spirethoughts/indias-hairy-exports-to-africa/