While central banks around the world are fighting inflation, droughts and heat waves have further complicated their work. Through the summer months, large parts of the world, especially in the Northern hemisphere, were in the grips of severe droughts and heat waves. Separately, parts of Asia, particularly Vietnam and India, also offer growth opportunities. It is worth highlighting that the Asia-Pacific region is entering a period of political and security volatility. Domestic politics in Australia, Malaysia, Thailand, and Pakistan have witnessed a series of dramatic events involving high-profile political leaders.
Sharing the Country Risk and the Global Outlook report by Dun and Bradstreet India, that provides an understanding of the risk involved in doing business, along with a region-specific and cross-border assessment of the risk.
The report also highlights Business prospects remain weak amidst inflationary pressures and weakening growth. Tensions between the US and Mainland China, and on the Korean peninsula, continue to simmer. Growth concerns in Mainland China have prompted another rate cut. Political events unfolding in Malaysia, Thailand, Australia, and Pakistan, warrant attention. Indian economy is expecting the upcoming festive season to support growth unless the global slowdown intensifies and spillover effects strengthen, especially upon the export growth prospect according to Dr. Arun Singh, Global Chief Economist, Dun, and Bradstreet.
Basis this, please find below commentary from Dr. Arun Singh, Global Chief Economist, Dun, and Bradstreet. Also attached above is the report for your easy reference.
Commentary from Dr. Arun, Global Chief Economist, Dun & Bradstreet
“Droughts in parts of Europe, Mainland China, and the US have upset inland navigation, hydroelectric power generation, and agricultural output, adding to pre-existing supply chain strains; in addition to this, energy insecurity in Europe makes a stagflationary scenario most likely in this part of the world. In India, although downside risks to growth now remain skewed, we expect the upcoming festive season to support growth unless global slowdown intensifies and spillover effects strengthen, especially upon the export growth prospects”