World trade collapses: Australia at risk
The latest Dun & Bradstreet Global Economic & Risk Outlook Report has revealed a collapse in world trade, particularly in the Asia-Pacific region, is putting Australia at risk.
The report has revealed that 70 countries have had their their risk rating downgraded in the past six months, including Australia’s key trading partners China, South Korea, Hong Kong and Vietnam. This has resulted in Dun and Bradstreet lowering its growth forecast for Australia in 2009 from 0.5 percent to -0.2 percent.
Dun and Bradstreet CEO, Christine Christian believes that, while the figures are disconcerting, the worst is still yet to come.
“Clearly the worst is yet to come and Australian executives have recognised this in the expectations for declining sales and revenue in the June quarter.”
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