The Knowledge to Decide

In contrast with the US and Europe, bargaining over prices is the norm in China’s small consumer electronics retailers. Spire Research and Consulting posted a commentary on how Western brands should sell their consumer electronics products in China, published on the US Consumer Electronics Association’s blog. Chinese adults spend an average of USD917 on consumer electronics, compared to USD483 in the US. Over 60 per cent of China’s population will continue to spend more on this category. In Chinese computer and consumer electronics retailers, bargaining is a common practice. This stands in contrast to the American and European norm, where consumers are used to fixed prices, whether at large retailers or e-tailers. This is due to the saturation of retailers in the Chinese market. These retailers sell high-end consumer electronic items such as laptops, cameras, tablets, mobile phones and so forth at negotiable prices. So how do western vendors keep up with the competition?

As non-bank financial service activity expands in Asia, does the region need a more unified set of banking regulations? Leon Perera, Chief Executive Officer of Spire Research and Consulting, remarked that Asian banks and governments should be at the forefront of pushing for better global regulations on non-bank financial activities, rather than forming alternative regional standards. At stake is the delivery of financial services for Asia’s huge unbanked and under-banked population. Perera commented that unified banking regulations across the Asia-Pacific region should come via global multi-lateral platforms. Asian governments should work with each other to form an effective regional voice for improvements in global financial regulatory regimes. The implementation of the Basel I, Basel II and Base III standards after the global financial crisis had not been easy in Asia, due to various inconsistencies. Moreover, the Basel reforms were reportedly too Europe and US market centr