No, not the European finance ministers, not Hank Paulson's latest briefing. I'm talking about the Canton Fair and the big Hong Kong sourcing exhibitions (links later). This will be a good test of how the financial storm might affect 'real' business.
Today's South China Morning Post is gloomy. Airlines are reporting a 15% drop in bookings and hotels are said to be 'half full' (although I don't really believe that). The clincher, though, is that the price of black market stands at the fair (don't ask!) is down to 3x list price from 10x.
Hong Kong TV news was also reporting last night that Electronics Fair exhibitors were refocussing their targets on developing Asia (especially India and China) as well as southern Europe and the Middle East. Watch this space!
Sent via BlackBerry.
No comments:
Post a Comment