SHOOT: I believe current low energy prices are helping countries like Korea and China build up momentum. Korea is very very sagely using their spare cash to invest heavily in Green Tech. The USA, stupidly, is investing in Green Tech, but not as consistently (hence the psychology of previous investment into GM, Chrysler, Ford etc).
Korea and China are also nicely poised in the sense that both are the world's leading producers of lithium ion batteries (for imminent electric vehicle fleets).
Korea and China are also nicely poised in the sense that both are the world's leading producers of lithium ion batteries (for imminent electric vehicle fleets).
China’s GDP growth accelerated to an annualised rate of over 6%, up from around 1% in the previous quarter. South Korea’s GDP expanded by 0.2%, after plunging 19% in the previous three months. But Singapore’s GDP fell by 20%, even more than in the fourth quarter. Although the headline numbers show that South Korea’s exports fell by 19% in the year to April, they rose by a seasonally adjusted annualised rate of 53% in the three months to April compared with the previous three months, Goldman Sachs estimates; Taiwan’s grew by an annualised 29% over the same period. China’s exports over the last few months have only managed to stabilise, but its industrial production jumped by an annualised 25% in the past three months. As the world’s largest importer of oil and other commodities, the tiger economies have also benefited hugely from the fall in prices over the past year. This has acted like a tax cut, boosting real incomes and profits.
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