Prepare for the rebound – optimise the opportunity post-COVID19.
Naturally, Australian business is currently bunkering down to navigate the myriad challenges presented by the coronavirus outbreak, with a focus on the health and wellbeing of staff, clients and their operating communities.
The crisis will pass and it is important for business to be well positioned to optimise the opportunity that will follow, notably related to Asia and in particular to China.
By some estimates, China is approximately 7 weeks ahead of the rest of the world in navigating the coronavirus health crisis. From observations in the media and discussions with colleagues and friends on the ground in China, the estimate is that China is progressively getting back to work, with life returning to normal.
Some logical opportunities will present for Australian business as a result of this, providing of course that our own economic and operational state in Australia is in a sufficient state to meet demand and provided that individual businesses are adequately prepared.
These opportunities include:
Increased demand for safe, high quality Australian soft commodities, food, beverages and health products, as a result of reduced trust in domestic manufactured products in China
Sourcing of cheaper, better quality manufactured inputs into Australian supply chains as the Chinese government stimulates the Chinese economy to get manufacturing back to work
Gradual resumption of Chinese visitor flow to Australia (our largest source of foreign visitors in 2019 at - 1.46 million visitors) with related economic benefits including in the education, retail, tourism, hospitality and property sectors
Increased investment into Australia of Asian capital seeking enhanced returns aligned with Asian market demand.
How can ShineWing Australia help?
ShineWing Australia is an Australian owned and operated advisory and accounting practice with a long history and deep Asian connectivity.
We are helping an increasing number of Australian businesses, across many industry sectors, to navigate challenging unfamiliar markets in Asia, to ensure that Australians make the right decisions as they do business with or in Asia markets or with Asian business partners.
We are helping with strategy development and practical execution of strategy including export and trade opportunities, manufactured input sourcing, debt and equity capital sourcing, or a combination of all of these, to help Australian business grow.
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