(PRWEB) April 08, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, PwC has noted that a new report from Ernst & Young shows strong growth in trade has contributed to the emergence of many rapid growth markets (RGMs) in Asia. In fact, these are expected to grow collectively at 5.3% this year, hitting 6.3 % in 2013. This comes from Ernst & Young’s quarterly Rapid Growth Markets Forecast (RGMF) report.
Big4.com has reported on the findings that the share advanced economies have in global trade is set to fall from over 80% in the 1990s to 55% by 2020. China will become Europe’s most important trade partner, far outpacing the US, with Chinese exports to Europe climbing above US$1t, twice as large as US exports to Europe. All this is predicted to happen by 2020. Overall, China will make up half of the growth in IT trade over the next ten years. This upward movement in added value will help carry China and India to just under one-fifth of global trade flows by 2020.
Gerard Dalbosco, Managing Partner, Markets, Asia Pacific at Ernst & Young added his insights to what’s called a coming “seismic shift” according to the report by looking at a number of variables that come with this new trade perspective.
“Growth prospects in RGMs remain strong but in positioning themselves, companies may have to examine a greater number of variables than in the past, encompassing transport and information and communication technology (ICT) infrastructures,” he said. “Wage and other production costs; trade liberalization policies; currencies management; technology transfers; investment and manufacturing partnerships; merger and acquisition opportunities; the quality of financial services and government procurement policies.”
Big4.com is the accounting, tax, consulting and IT professions’ premier resource, and has been exclusively focused on Big Four firm professionals and alumni for 10 years, providing high quality content, connectivity and commerce. The Big Four Job Board offers fresh job opportunities – clients include the world’s leading companies. Big Four News covers key news, developments, events, survey results, press releases and appointments. The Big Four Blog provides opinion and insight on recent and key developments, news, happenings, management changes, regulations, acquisitions and capital market activities. Big4 Video is a professionally produced news covering key global developments in this space.
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- Kristy Short