新闻、出版刊物及活动
2014-04-15
經濟學刊物

Electronics in Asia / Sector Barometer

Panorama Coface Expert credit insurance SECTOR BAROMETER

We start this first 2014 Panorama dedicated to our global sector barometer, which assesses credit risk by key economic sectors in three of the world’s major regions.

 

SECTOR BAROMETER

North America remains on track, with companies posting constantly improving results. Their confirmed financial strength stabilises sector risks at relatively comfortable levels. In Western Europe, the return to economic growth may only be gradual, but it is real. Without making any major changes, we note that sector risks tend to stabilise, particularly in the countries most affected by the last recession. Finally, Emerging Asia is now a cause for concern. The economic slowdown in China reveals structural difficulties that impact corporate profitability. Sectors suffering from overcapacity must inevitably restructure and this unavoidable process carries with it higher risks. The risk assessment of the metals industry, which epitomises every possible excess, has deteriorated in this environment.

 

ELECTRONICS IN ASIA: INNOVATION, ENGINE OF GROWTH AND RISK FACTOR

We then propose a focus on the electronics industry in Emerging Asia, a region that has become in a matter of years the world’s workshop for many electronic components. As Japan did previously, emerging countries in Asia have positioned themselves as key sector players. However, the model has its limits, and credit risk now tends to increase, as confirmed by the Coface survey of Chinese companies: medium-sized Asian players depend excessively on large foreign firms. Their margins are shrinking and they have to invest increasing amounts to keep up with rapid change. It is the case for Mainland China but also to a lesser extent for Taiwan and Hong Kong. Asian companies in the sector symbolise the success of emerging economies and are inevitably moving up the value chain. But do they have what it takes to limit the associated increase in risks?

下載此份刊物 : Electronics in Asia / Sector Barometer (902.19 kB)

聯絡


中國大陸

張 雯
電話. +86 21 6171 8100
shanghai@coface.com

香港

中国大陆
 
程 驰
电话. +86 21 6171 8100
chloe.cheng@coface.com
 
中国香港特别行政区
 
翟继志
电话. +852 2585 9188
leo.chak@coface.com
 
中国台湾
 
李圭之
电话. +886 2 8182 1015
grazia.li@coface.com
 
test

台灣

李圭之
 
电话. +886 2 8182 1015
grazia.li@coface.com

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