The Far East

by Bridget Hogan

It’s a huge area of different cultures and needs from communism to dictatorships, from archipelagos to huge land masses, from concentrated urban areas to wide stretches of unpopulated land. Growth rates are high – at 5% to 7% in the region, higher than in the US and Europe.

There is a great deal of uncertainty in the region too, which is reflected in shipping. Traditionally, most of the ship finance business for the region has been centered on Hong Kong and, as a ship finance centre, the Crown Colony is booming. No one, it seems, is concerned in shipping terms about the handover to China next year. At least one estimate of the number of banks moving into Hong Kong in order to tap into shipping potential for finance is eight or ten – in the last 12 months alone.

This is only an excerpt of The Far East

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