Friday September 25, 2020 20:55

Stcoks Press Release : 20 Nov 2019

Banks in Southeast Asia Risk Losing Nearly US$5 Billion in Payments Revenue by 2025, According to Accenture Report Stcoks—20 Nov 19

- As much as 17% of banks' payments revenue in Thailand, or nearly US$1 billion, is likely to be displaced by the growth of digital payments and competition from non-banks - Yet, as digital payments continue to grow, banks in the region can tap into

Atradius: Trade War Driving Growth in Global Trade Into Negative Territory Stcoks—20 Nov 19

AMSTERDAM--20 Nov--PRNewswire/InfoQuest

Atradius N.V. forecasts a 0.6% contraction in global trade growth this year with only a modest recovery to 1.5% growth in 2020. The US – China trade war is the biggest contributor to the slowing growth, however issues in other large emerging market economies, spill-overs from Germany's automotive and manufacturing slump and Brexit-motivated stagnation of European economies are also contributing to the slowdown.

The rift between the US and China is directly affecting almost 4% of global trade, roughly USD 700 billion. However, more important are the indirect effects that are being felt throughout the world. The uncertainty it creates in particular weighs heavily on business investment. That in turn negatively affects value chains and trade flows.

Despite all the uncertainty and disruption, consumers continue to spend and unemployment remains in check. With inflation stubbornly low, loosening monetary policy and tight labour markets supporting increased participation and rising wages, the consumer outlook remains positive for the near term. However, with the consumer being the lone pillar supporting economic growth, any shock to consumer confidence could destabilise the economy and reverse growth expectations in 2020.

John Lorie Chief Economist of Atradius N.V. commented, "