Every day we are bombarded with news on how Greece is facing the risk of defaulting.
If this really happens, Greece will not be able to pay for their debt obligation resulting in a domino effect of financial downturns. Indeed it appears as though Portugal and Ireland’s economies are getting worse too.
Moody’s, one of the most established credit rating agencies believe that if Greece has a credit default, other countries will be in trouble. The Euro will surely be affected and every part of Europe will suffer from the recession.
When contemplating this economic threat, together with the financial strife that the US is still in, one can’t help but ask what does our future hold and how do we grow without being the victims of this global crisis? The situation is complex so the best way to sustain profits is to keep the cash flow healthy and to tap into more than one market. By doing so, your risks are spread.
Juxtaposing the Western hemisphere, Asian markets are growing more rapidly than ever. It seems likely that they will be driving the global market in the future especially in International Trade. Already we are seeing powerful brands wisely taking notice of this trend; Chanel for example have dedicated their latest range to the Chinese community with Chinese dollies.Prada, was listed in Hong Kong Stock Exchange. And French brand, Loccitaine who only recently listed themselves (in 2010) in the Asian market are taking advantage of their huge popularity by making their retail price almost double what they charge in France and the UK. It’s never too late to avoid a negative change in fortune as long as you act quickly and stay aware of changing economic patterns of your market.
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