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Frost & Sullivan Identifies New Growth Opportunities in a Contracting Global Economy – Canada NewsWire

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“The global economy has already witnessed shallow V-shaped recovery from most historical health shocks such as SARS and MERS,” said Sambhavy Shrestha, economist, Emerging Market Innovation (EMI) practice at Frost & Sullivan. “While a wide V-shaped recovery from the COVID-19 crisis is expected, the delayed revival of global consumer demand will deter quick recovery of business sentiments and unemployment rates. As early signs of recovery in the global economy emerged by the end of Q2 2020 with easing lockdowns, historically high levels of government spending will remain pivotal for faster recovery.”

Shrestha added: “With the larger economy expected to remain contracted throughout 2020 and growth recovery to pre-crisis levels expected only in 2022, businesses need to adapt to long-term shifts in consumer spending patterns and workforce transformation. Export-oriented economies will face a severe decrease in demand and consequent reduction in government revenues, even after signs of global economic revival. Telehealth and similar minimum-contact services are well-positioned to grow in 2020, given the increased demand and government incentives for such industries.”

For further revenue opportunities, global businesses and industries should:

  • Relocate production from China to other emerging market alternatives such as Vietnam, Thailand, and Indonesia to leverage government incentives and other strategic advantages.
  • Look for cross-industry M&A opportunities within the private sector and increase public-private partnerships to meet the vast unmet demand gap for technologically advanced solutions to transition to the new normal.
  • Offer diversified and customized price plans for their services and products that fit the needs of consumers of varying economic strata as opposed to standardized options.
  • Leverage the historically low interest rates on credits to increase investments and optimize government tax incentives to invest in new product development and supply chain realignment.

New Trade and Supply Chain Mega Trends to Transform the Global Economy in 2020 is part of Frost & Sullivan’s global Emerging Market Innovation Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

New Trade and Supply Chain Mega Trends to Transform the Global Economy in 2020
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JOSH LAUGHREN: No green recovery without blue economy, and no blue economy without fish – SaltWire Network

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JOSH LAUGHREN

As the federal government prepares the throne speech for Sept. 23, Prime Minister Justin Trudeau has rightly emphasized the importance of planning for a green and just recovery from the COVID-19 crisis. The $32-billion “blue economy” — our oceans — must be part of this strategy.  

The pandemic, climate change, habitat destruction and persistent overfishing have made it more urgent than ever that we invest in our oceans as the Earth’s most important life-support system. Canada now has a unique and powerful opportunity to make our oceans part of a sustainable recovery from COVID-19.  

According to government figures, the oceans are a source of approximately 350,000 jobs in Canada — often in communities with few other employment options. The term “blue economy” is a flexible one that can include almost anything related to the ocean: energy, shipping, tourism, recreation, aquaculture, transmission cables and much more. But now, more than ever before, we cannot afford to ignore the original and still vital foundation of the blue economy: wild fish to support the domestic seafood industry.   

Canada’s fisheries have been severely depleted over many decades, to the point where Oceana Canada’s latest fishery audit shows that only about a quarter of them can confidently be considered healthy. The value of Canada’s wild-caught seafood is dominated by a few shellfish species like lobster, crab and shrimp, leaving little room for error. And the situation is not improving. Our annual audits show that the overall health of Canada’s fish stocks continue to decline. The number of healthy populations has decreased from 2017 to 2020, despite new investments in science and management. 

The outcomes of Canada’s current approach to fisheries management has real costs for Canadians and coastal communities. A recent study by Rashid Sumaila and Louise Teh at the University of British Columbia, commissioned by Oceana Canada, showed rebuilding fisheries can deliver long-term economic and social gains for five of the six high-valued stocks they studied. The most optimistic scenario estimated a gain of 11 times more economic value than today. As we have seen from examples all over the world, wild fish populations will usually rebound if we just give them a chance. Failure to do so represents a massive loss for future generations. 

There is reason for hope. Successive governments under the leadership of Trudeau have restored funding to fisheries science, improved the transparency of fisheries data and greatly increased the amount of marine habitat protected. And the modernized Fisheries Act, which became law last year, requires depleted fish stocks to be rebuilt. But laws are only effective if implemented, and so far, the regulations needed to support the act have not been completed.  

Trudeau and the minister of Fisheries, Oceans and the Canadian Coast Guard, Bernadette Jordan, have stated that the blue economy is essential for Canada’s economic recovery. In fact, it is so important it is at the top of the fisheries minister’s mandate letter. Just two months into the pandemic, Trudeau urged us all to “buy Canadian” to “help the people who keep food on our plates,” as his government invested $470 million to help fisheries recover. But you can’t buy Canadian fish if there are no fish to catch. And in many communities along all three coasts, without fish to catch there will be no long-term recovery. 

This throne speech and new mandate will be a watershed moment in Canadian history. Canada’s deputy prime minister and newly minted minister of finance recently said that our country’s economic recovery needs to be green, equitable, inclusive and focused on jobs and growth. We agree.  

There is no green recovery without a blue economy, and no blue economy without fish. 

Josh Laughren is the executive director of Oceana Canada, an independent charity established to restore Canadian oceans to be as rich, healthy, and abundant as they once were.

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China's economy remains resilient despite external risks, says Xi – Reuters Canada

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FILE PHOTO: Chinese President Xi Jinping arrives for the meeting to commend role models in China’s fight against the coronavirus disease (COVID-19) outbreak, at the Great Hall of the People in Beijing, China September 8, 2020. REUTERS/Carlos Garcia Rawlins

BEIJING (Reuters) – China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday.

The world’s second-largest economy has steadily recovered from a virus-induced slump, but analysts say policymakers face a tough job to maintain stable expansion over the next several years to turn China into a high-income nation.

“The basic characteristics of China’s economy with sufficient potential, great resilience, strong vitality, large space for manoeuvre and many policy instruments have not changed,” Xinhua news agency quoted Xi as saying.

China has strong manufacturing capacity, very large domestic markets and huge investment potentials, Xi said.

Xi reaffirmed a “dual circulation” strategy that would help steer the economy towards greater self-reliance, as U.S. hostility and a global pandemic increase external risks.

China still enjoyed “strategic opportunities” in its development, although the coronavirus pandemic has exacerbated global challenges as globalisation slows and unilateralism and protectionism are rising, Xi was quoted as saying at a meeting on the country’s 14th five-year plan (2021-2025).

“We must seek our development in a more unstable and uncertain world,” he said.

Xi urged calmness amid rising difficulties and challenges.

“The great rejuvenation of the Chinese nation can never be achieved easily with the beating of gongs and drums,” he said.

Reporting by Kevin Yao; Editing by Alex Richardson

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China's economy remains resilient despite external risks, says Xi – SaltWire Network

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BEIJING (Reuters) – China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday.

The world’s second-largest economy has steadily recovered from a virus-induced slump, but analysts say policymakers face a tough job to maintain stable expansion over the next several years to turn China into a high-income nation.

“The basic characteristics of China’s economy with sufficient potential, great resilience, strong vitality, large space for manoeuvre and many policy instruments have not changed,” Xinhua news agency quoted Xi as saying.

China has strong manufacturing capacity, very large domestic markets and huge investment potentials, Xi said.

Xi reaffirmed a “dual circulation” strategy that would help steer the economy towards greater self-reliance, as U.S. hostility and a global pandemic increase external risks.

China still enjoyed “strategic opportunities” in its development, although the coronavirus pandemic has exacerbated global challenges as globalisation slows and unilateralism and protectionism are rising, Xi was quoted as saying at a meeting on the country’s 14th five-year plan (2021-2025).

“We must seek our development in a more unstable and uncertain world,” he said.

Xi urged calmness amid rising difficulties and challenges.

“The great rejuvenation of the Chinese nation can never be achieved easily with the beating of gongs and drums,” he said.

(Reporting by Kevin Yao; Editing by Alex Richardson)

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