Impact Publications : AirCargo_247
AIRCARGO ASIA-PACIFIC • FEB - MARCH 2017 • Page 23 event EXPRESSTM Do you really want a native Event App but think that your deadline is too tight? We’ll have it ready in for you. 10 days www.eventapps.com.au Find out more at... invisage your satchel in your hand branded for your event network with social timelines attendee profiles instant messaging developed and supported in australia engage with beacon and geofence messaging and business-friendly. Its growth may be sluggish but strong macro- economic fundamentals remain in place, making Singapore relatively low-risk. The city state has strong ties to China, which may affect the economy, while the potential pro- tectionist measures taken by the US government may also slow growth. SOUTH KOREA: Experiencing some political turmoil, South Korea also faces challenges with a highly-in- debted population and strong trading ties with China. South Korea’s eco- nomic model is export-driven and is currently incapable of providing sufficient employment and pur- chasing power. The political climate makes immediate improvements unlikely. The metals, steel, construc- tion and construction materials markets have a bleak outlook but the automotive, chemical/pharmaceutical, financial services, food, services, and consumer durable industries are all looking up. TAIWAN: Taiwan’s political situ- ation remains unstable with China threatening to invade the island if it formally declares independence. Weak external demand means economic growth is subdued, especially given 40 per cent of its exports are destined for China. Public finances are sound and the budget deficit is low. Industries to with a higher risk include the auto- motive/transport, steel and metal industries. Services, consumer durables and electronics/ICT are looking up, while the food industry is excellent. THAILAND: Thailand’s econo- my is expected to grow in 2017, mainly due to increasing tourist arrivals and public investment in infrastructure improvement. Gov- ernment debt remains low and the banking sector is healthy. Howev- er, the long-term outlook isn’t quite as positive, with growth being held back by lower export demand from China and low commodity prices. The textiles, steel and consumer durables industries are high risk while the food industry is looking good. VIETNAM: Vietnam’s commu- nist government remains in pow- er despite public discontent. Its manufacturing industry depends on raw materials imported from China, even as it engages in a territorial dispute with China over conflicting claims in the South Chi- na Sea. Economically, growth is high and inflation is under control. However, Vietnam depends on Asia as an export market so it remains vulnerable to econom- ic downturns in the region and the withdrawal of the US-led Trans-Pacific Partnership will deal a heavy blow to Vietnam’s growth prospects. Consumer du- rables is the only bright spot in Vi- etnam’s economy, with struggling industries including construction, construction materials, financial services, metals, paper and steel. Hoppe said, “While Asia Pacific remains a key market for Austral- ia, it’s important to be aware of the political and economic vagar- ies of the countries organisations do business in and with. Australian businesses should protect them- selves by thoroughly researching potential business deals and by taking out trade credit insurance, which can protect the organisa- tion in the event of non-payment.” See the full report. https://atradi- us.com.au/documents/country-re- port-apac-2017-crapac1701en.pdf Singapore is stable and business-friendly. Strong macroeconomic fundamentals make Singapore relatively low-r isk.