Optimism in Asia

Tim Livingstone

Recently I attended the UHY Asia-Pacific Region Meeting which was held in Mumbai, India.  Attending the meeting were 28 members representing 15 countries.  The conference focus was on building the UHY network and utilising the substantial technical knowledge-sharing and marketing resources of the affiliation.

However, the real value from this meeting was the networking opportunities.  Unlike the US, Europe and most other western countries, the Asian economies are bubbling with confidence, have strong economic growth and are very optimistic about their future.  That got me thinking: why is Asia so economically successful?

A big part is the China story which has become the world manufacturing dynamo for high-volume, low-cost consumer items.  What other country in the world could provide 20,000 engineers in 9 months to springboard Apple’s iPhone/iPad production?  Globalisation has meant a significant shift of world manufacturing to China.  They have an abundance of cheap labour, capital and a relatively business-friendly environment.  China’s success has become Asia’s success.  The mass of the population save more than they consume and there is a homogenous pursuit to become wealthy and secure.

New Zealand is also a beneficiary of Asia’s success.  As Asia’s middle class grows, there will be an increasing demand for our high-quality soft commodity products and expertise in many areas such as education, engineering and renewable power production to name a few.  For those New Zealand businesses willing to invest resources and do the hard yards in developing business relationships in Asia, the opportunities will be substantial.

I returned to Auckland energised and optimistic about New Zealand’s future, and identified several opportunities for clients developing their Asian business models.  Our UHY network is very strong in the Asia region, and we invite our clients to access this resource if they are looking to explore Asia as a business opportunity.

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Warm regards

Tim Livingstone
T: (09) 839 0298
M: 021 683 707
E: timl@uhyhn.co.nz

2013-07-05T11:01:37+00:00July 5th, 2013|UHY International|