Doing business with Asia Pacific: what to expect for the rest of 2021?
The first half of 2021 saw a strong rebound of the global economy, led by some advanced economies such as the US, the European Union, the UK and Canada, combined with continued strong economic momentum in China. This has supported improving Asia Pacific exports to markets in North America and Europe.
In the meantime, Asian and Middle Eastern capital continued to invest heavily in UK tech startups during the first half of 2021. The strong flow of investment from East to West is complemented by similar flows the other way, with leading UK VC firms increasingly investing in Southeast Asia.
It is anticipated that we will see a more positive future for global trade and investment in 2021, thanks to the widespread rollout of vaccines. Most major Asia Pacific economies are forecasted to grow rapidly in 2021, and for China the growth rate is expected to be 8.3% y/y. In the meantime, there are still many uncertainties with trade wars and geopolitical tensions.
So, for British/European businesses keen to restart business with these fast-growing markets in the post Covid 2021 and beyond, what are the key aspects of their economy, trade, investment and tech trends that you need to know? And how can you best prepare for them?
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Shirley Ze Yu
Ting Zhang, Founder & CEO, Crayfish.io