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This is a hugely diverse region with national economies at different stages of development. Historic indicators suggest others are on the brink of exciting growth.
In India, oil demand is where China’s was in 2002, while the country’s GDP per capita in 2015 was the same as China’s in 2005. If India were to follow the same economic trajectory as China in the next 10 years, the business potential would be enormous.
China is an intoxicating prospect for lenders - 250 million people in China possess a driving license, but only 180 million own a car.
In Australia, concerns about the global economy and fears of a higher exchange rate are dampening the market, with equipment finance up just 1.8% in 2016, although fleet leasing achieved a 21% growth.
In the Republic of Korea and Japan, concerns over the US announcement that it is reviewing its free trade agreement with Korea have cast a shadow over this year’s prospects. Although, Sri Lanka is tipped for positive growth alongside a number of the smaller economies in Asia Pacific.
|FULL SUMMARY OF FINDINGS - SEE PAGE 6 OF THE SURVEY|
- Nidhi Bothra, Executive Vice President, Vinod Kothari Consultants
- John Dennis, Managing Director, Australian Structured Finance Group
- Paul Errington, CEO, Connaught Finance Investments, Hong Kong
- Hugh Lander, CEO, BOQ Finance
- Professor Yanping Shi, Professor of Finance, School of International Trade and Economics, University of International Business and Economics, Beijing
- Ting Yang, PhD student, School of International Trade and Economics, University of International Business and Economics, Beijing