Eastern excess
Article Abstract:
Asia, for the fashion industry, was a wonderful new market. The newly rich could buy a lot of status symbols, designer clothes and luxury items. Now that the Asian markets have crashed, fashion has to look for new growth elsewhere, or plan on holding down costs until things pick up in Asia, which many think will happen. Gucci's sales in Hong Kong are down 30% and just 34 Korean buyers went to the menswear trade show in Florence in 1/98 vs 268 the year before. Very rapid globalization and the rise of conglomerates has made the fashion industry vulnerable.
Publication Name: The Bulletin with Newsweek
Subject: News, opinion and commentary
ISSN: 1440-7485
Year: 1998
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Bottom feeders head north
Article Abstract:
The Asian financial crisis will continue to impact the world economy during the 1998-99 financial year. The region's low currency value has presented new opportunities for some investors, but others are worried about the global economic consequences. With Asian economies in turmoil, Western economies, including Australia, have downgraded their economic growth forecasts.
Publication Name: The Bulletin with Newsweek
Subject: News, opinion and commentary
ISSN: 1440-7485
Year: 1998
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Zero risk rating defuses meltdown fears
Article Abstract:
The Asian economic crisis has improved Australia's rating as a place for overseas investment. Investors rate Australia and the US as equal in risk. Prime Minister John Howard should be commended for enacting key reforms of his 1996 election agenda. Reforms improved the economy, the environment and the health-care industry.
Publication Name: The Bulletin with Newsweek
Subject: News, opinion and commentary
ISSN: 1440-7485
Year: 1998
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