Pedestrians crossing pedestrians crossing a road near Mahaica in Georgetown which was a block away from the transportation hub. (Dario Lopez-Mills/ Minors Matter)
By Qishin Tariq
Acute challenges in the global economy are likely to push global trade towards only low-cost products, e-commerce giants and regulated online consumption in the short to medium term, scientists from Siemens Automotive and Astrini Systems said on Friday.
Speaking at the SMT Technology Session held at the National Science and Technology Museum in Camp Street, Garnett said that the uncertainty of the business environment has led them to target the many emerging markets in Asia and Africa.
Experts at the event said that the developed economies of the world will continue their current policy of carbon trade and regulation, and the effects of globalisation, changes in the products traded will not be felt in the short-term. It is only in a couple of years, they said, that the changes will be felt.
The Chinese govt and the Indian government have already decided to introduce cap and trade legislation in 2020. This will cause changes in the product value structure in the developed economies. It has been seen that the boom in e-commerce now is not being led by Amazon.
At this point China is proving to be the online powerhouse for retail.
During his presentation Garnett said, “(We’re going to) target the Amazon’s of the world – (it’s) the fact that they are so cheap, they are able to sell everything in Asia.” Astrini is a US dollar denominated company that operates in the cost of goods and services sector.
Analysts have suggested that the development of cost-cutting processes like that of Chinese e-commerce giants will cause prices to drop, making them appealing to consumers around the world.