Focuses on Ernst & Young Report Highlighting Coming Trade Shift Toward Asia

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India , China, Hong Kong and Vietnam expected to be rapid growth market leaders

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Big4, 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. 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.”

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  •     Kristy Short
(734) 481-0186

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