Domestic demand remains the primary driver of Asia’s growth, despite sharp acceleration in exports growth at the start of the year, according to ICAEW’s latest Economic Insight: South-East Asia report. Exports continue to be an important factor, as healthy foreign trade underpins domestic consumption and investment, particularly in East Asia.
The region enjoyed robust GDP growth for the first half of 2017, driven mainly by domestic demand. In many countries, the contribution of net external trade to headline GDP growth was negative and was outpaced by import growth. Asia’s supply chain mechanisms and resilient domestic demand are likely to lead to import growth as exports and overall growth improve.
When it comes to food content these days, people are just going for seconds and thirds and fourths. They just can’t seem to get enough of it; and to say that we are experiencing a really big moment for food is an understatement. Consumers are looking for food wherever they can get it.
Millions of F&B themed photos are shared daily across social platforms like Twitter, Instagram, Facebook, Flickr and Pinterest which increases consumers’ awareness of different cuisines and cultures, and fuels their desire to experience them. The term ‘table for one’ rarely exists anymore because chances are you will be sharing your food photo with hundreds or maybe thousands of other people on social media.
China has a track-record of making changes rapidly. Within just the past decade or two, the world’s most populous country has become its biggest market for passenger cars, its biggest e-commerce market, its biggest exporter -- and its biggest source of carbon emissions. Now, China has also assumed a leadership position in the green-investment arena.
China is ploughing billions into clean energy, promoting the use of electric vehicles, investing in low-emissions infrastructure for its fast-growing cities, and widening the options for green financing.