US and Chinese currencies

Businesses must become “Asia-literate” or miss the growth opportunities of the Asian century, according to the Australian government.

That was the message of its Australia in the Asian Century1 whitepaper released in October 2012, which urged the nation to plan for the future.

“Within only a few years, Asia will not only be the world’s largest producer of goods and services, it will also be the world’s largest consumer of them,” the report said. “It is already the most populous region in the world. In the future, it will also be home to the majority of the world’s middle class.”


Yet, while Asia represents a massive market with two of the world’s three biggest economies in China and Japan, business owners would be remiss to ignore the world’s biggest economy: the United States. According to the World Bank2, US gross domestic product in 2011 totalled nearly US$15 trillion from its population of 311 million, with gross national income (GNI) per capita of US$48,620.

By contrast, China’s GDP was less than half at US$7.3 trillion, with GNI of only US$4,940 for its 1.3 billion citizens. Neighbouring Japan, the world’s third-biggest economy, had GDP of US$5.9 trillion with GNI per capita of US$44,900 for its 128 million people.


US stronger for longer?

Despite China’s rapid rise, a December 2012 report by the Centre for Economics and Business Research (CEBR)3 predicted that the big three economies would maintain their current rankings for at least another 10 years

Barring unforeseen economic mishaps and currency fluctuations, the United States is expected to remain the world’s biggest economy through to 2022, although China is forecast to narrow the gap to reach 83 per cent of US GDP. However, Asia’s rise is set to continue, with India expected to overtake the British economy in 2017 and secure fourth spot from Germany by 2022. Despite becoming the world’s 12th-biggest economy in 2012, Australia is forecast to drop two places, falling behind South Korea and Italy.


CEBR’s findings contradict research by the Organisation for Economic Co-operation and Development (OECD)4, which predicted in November 2012 that China would overtake the eurozone that year and the United States within four years to become the world’s largest economy. Nevertheless, the Asia-Pacific region now has more millionaires than those living in the United States or Europe. According to a study by consultants Capgemini and RBC Wealth Management5, the Asia-Pacific region had 3.37 million millionaires in 2011, eclipsing the 3.35 million residing in the United States.

The number of such individuals in the Asia-Pacific region with investable assets of more than US$1 million grew by 0.8 per cent in 2011, twice the global average. Japan made up more than half, with China accounting for 17 per cent and Australia 5 per cent. Yet, while fewer in number, the total investable wealth of rich Americans still outstripped the Asia-Pacific region by US$11.4 trillion to US$10.7 trillion.

hi pages hire a tradie banner image www.acbocallcentre (8)

Choosing the right market

For small business owners, depending on the product or service, a better option may be to test the waters first in a similar English-speaking country, such as New Zealand or the United Kingdom.

In Asia, Singapore has become a hub for multinationals due to its attractive incentives and location as a gateway to Chinese markets, while Japan’s demanding consumers make it an excellent market to refine products.

Export consultant Peter May says the competition in China is intensifying, with Australian businesses needing a unique product or service to succeed.

“The first trap is to assume that because you’re in a big market like China, all you have to do is grab 0.1 per cent of a market segment and you’ve made millions,” says May. “In reality, it’s a highly regulated market with strong competition in all the attractive segments, and foreign companies can be required to meet standards which aren’t always applied to the locals.”

Choosing the right overseas market for business growth can be challenging. By doing your homework and seeking advice from trade advisors such as Austrade, it is possible to reduce the risks and seize the benefits of going global.

pilgrim womens fashion banner image www.acbocallcentre (96)

Henry Sapiecha



July 11, 2006 It’s normal for things in the digital realm to get much larger very quickly, but it seems the same thing is happening with container ships, which seem to be more efficient the bigger they get. Samsung Heavy Industries recently launched the World’s largest container ship, breaking its own world record of 9200 teu (a teu is a 20 ft container) which it set less than 12 months ago. The Xin Los Angeles is the new heavyweight champ and carries 9600 teu – equivalent to 1.3 million 29 inch color TVs, or 50 million mobile phones. Whatsmore, the record will almost certainly be broken again in the near future as SHI has developed a 12,000 teu container ship design in co-operation with Lloyd’s Register and is working on a container ship capable of carrying 14,000 teu. To put matters in perspective, SHI built what was then the world’s largest container ship in 1999 – it carried 6,200 teu. This ship is more than three times larger than the Titanic and has a crew of (you’ll never guess) …
GlobalOption - Your option to trade

How many crew does it take to comfortably man the world’s largest container ship? Thanks to incredibly sophisticated automation, the answer is a staggering 19 men.

The world’s largest container ship, Xin Los Angeles, has been delivered by Samsung Heavy Industries Co Ltd (SHI) to Lloyd’s Register class. The ship is owned by China Shipping Container Lines (CSCL) and is operated by China International Shipmanagement Company Ltd, a joint venture between CSCL and V.Ships.

The ship is 9,600 teu and is the first in a series of eight being built by SHI. The ship will trade from China to Europe initially and will eventually also trade to the US.

Xin Los Angeles can carry a maximum of 18 rows of containers by eight tiers on the weather deck and 16 rows by 10 tiers in the holds.
Greentraders - Saving the Planet one trade at a time

The principal dimensions of the ship are: • 336.7 metres length overall • 45.6 metres beam • 15.0 metres draught.

The ship is propelled by an MAN B&W 12K98MC-C Mk6, with a power of 68,520 kW. During sea trials the ship achieved a ballast service speed of 25.4 knots.

Xin Los Angeles is unique not only in terms of size, but also in its design aspects. The ship has been assigned Lloyd’s Register’s Environmental Protection Notation, which recognises vessels which exceed current statutory environmental requirements. The ship has a certified ballast water management system and has detailed procedures and systems in place for dealing with refrigerants, garbage and sewage and will also run on low-sulphur fuel. The ship is also enrolled in Lloyd’s Register’s Ship Emergency Response Service (SERS), a naval architectural consultancy service which provides technical support in the event of an incident such as a grounding or collision. As part of SERS, the operator will undergo a set number of ship emergency response exercises during the course of a given calendar year.
Importing Australia - The Essential Guide for Importers

Xin Los Angeles has also been assigned Lloyd’s Register’s Crew Accommodation Comfort Notation. This means that the vessel has been designed to mitigate noise and vibration levels. A high specification of noise dampening material has been employed throughout the accommodation, and the vessel has been designed to minimise vibration aspects, by assessing main engine vibration characteristics, propeller design and equipment specification.

“We are very pleased that the close co-operation between the owner’s, the yard’s and our site teams resulted in the successful and timely completion of this highly notable vessel,” says Duncan Duffy, Surveyor in Charge, Lloyd’s Register Koje. “We congratulate both the owner and the yard on this record-breaking achievement.”

“We have an ambitious strategy for building the container ship fleet of the future. We are pushing the size envelope because we believe that future market demand, coupled with the increasing importance of Chinese trade to the world economy requires an innovative, forward-thinking response to ship design and construction. The excellent teamwork between ourselves, SHI and Lloyd’s Register has helped us to achieve our objectives in this respect,” says Xin Yan Lin, Site Manager, China Shipping Group.

Construction also aimed at minimizing the emission of nitrogen oxide by using environment friendly engine. It can also run at a 26&min;note speed by using the engine that is used in 7,000 TEU container ships.

SHI has so far built some 181 container ships, while receiving orders for 33 ships out of the 9,000 TEU plus container ship orders received in the global shipbuilding industry – an approximate 45% market share.

“They key technology in container ship construction is to carry more containers under the same conditions. We have already developed 12,000 TEU container ships, and are trying to get new orders for these ships. At the same time, we will continue to focus on research and development, so as to steadily maintain our number one position in the world shipbuilding industry,” CEO Kim Jing Wan said.

Sourced & published by Henry Sapiecha

Next Page »