BRIDGING THE GLOBAL IMAGING CONSUMABLES INDUSTRY

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The 3Ps of Thriving When the Euroquake Hits Asia

 

By Curt Keller

 

To a digital  printing technology and consumables marketer involved in the Asian market, Europe is nothing more than a faint spot on the horizon; a continent which has long since given up its colonial and empirical claims to “rule the world” and has now been by far overshadowed by the swiftly-growing, massive economies of the Asia-Pacific region.     However, this relative “backwater” with a population barely a third of China alone may be in the process of letting loose a seismic shift which will affect all Asian economi es—both the more devel oped nations as well as the emerging markets. With the European Union’s currency, the Euro, seemingly in its death throes, the years of financial mismanagement in far-away capitals such as Athens, Rome, Dublin and Madrid may soon have momentous echoes in Beijing, Tokyo, Jakarta and Manila. That being said, however, there are ways to help your digital printing technology and consumables online marketing efforts continue to thrive.  But it will take the 3Ps: Prescience, Preparation, and Pursuance.

Abandonment of fiscal sovereignty

The interconnected global economy is a spider’s web linking the financial destiny of all nations. Just like a gossamer web, if you jiggle it over here it jiggles over there as well. When trade barriers fell, each nation on earth essentially gave up its fiscal sovereignty in favor of a de facto worldwide common market where the economic health (or lack thereof ) of nations on the other side of oceans can cause any given nation to boom or bust.

A spasmodic & uncertain market
India’s government has recently reported that the first quarter 2012 growth was at the slowest pace in nearly a decade. The signs that the Asian economies are running into molasses are everywhere in the region: South Korea’s exports contracted severely during the spring; Australia’s manufacturing sector has been slowing; Taiwanese electronic device manufacturers are reporting cuts in orders from major brand names; and IPOs around the area are being delayed or cancelled outright, with Formula One Group and Graff Diamonds being the latest casualties of a spasmodic and uncertain market.

The Rupee is in freefall
Long the powerhouse of the continent, China’s economic growth outlook for this year has been cut by 20% due to the collapse in exports to Europe. China’s slowdown has a knock-on effect on every economy from Vietnam to Singapore and could minimize or erase outri ght growth expectati ons throughout the region. With investors fleeing the cracking Euro, a rush to more secure currencies such as the Yen has significantly pushed up its value, making Japanese exports far less competitive around the world. Other Asian nations with less attractive currencies such as Indonesia and India have been in freefall, with the rupee going from 44 to the dollar last July to over 56 to the dollar just ten months later.

 

To read more of this article, read the July digital copy or subscribe for our print version.

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