Western Europe: the metal and automotive industries have left the "very high risks" category.
North America: majority of sectors at "medium risk".
Emerging Asia: paper-wood and construction sectors downgraded by a notch.
At a time when it appears vital to capture the growth potential in Asia, European airlines are stumbling due to aggressive competition from low cost operators and airlines from the Gulf. Currently, they are among the least profitable in the world. Faced with these new constraints, what changes are conceivable?
From 2004 to 2008 Brazil had grown, on average, by 4,8% a year, but in the former period, from 2009 to 2013, the average rate declined to 2,7%. The country did not take advantage of the good winds to make important reforms, such as improving the infrastructure and the business climate...
Since the beginning of the year, the Chinese government has continued its effort to carry out various items on the reform agenda, particularly on fine-tuning the structure of the Chinese economy. As domestic demand remains subdued, property market continues to be sluggish and over-capacity in some sectors remains unsolved, it would be unlikely China will achieve the 7.5% growth target. Coface expects the GDP growth of China could reach 7.4% in 2014, given more policy support in sight.