Developed Markets- Highlight
14 Feb 2018
With Japan emerging from its economic hibernation, there was an air of optimism at IFFT / Interior Lifestyle Living Tokyo. Few exhibitors, though, dared embrace the luxury label, lest wary buyers saw them as beyond their budget.
The Japanese economy is estimated to grow by 1.8% in real terms in 2017 on the back of healthy global demand, and the growth is projected to slow down to 1.2% in 2018. Inbound tourism has been one of the bright spots in recent years, supporting local retailers, hotels and restaurants.
Mainland China and Russia have failed to embrace the market-oriented economic policies championed by the World Trade Organisation and are not living up to key commitments they made when they joined the WTO, according to the Office of the U.S. Trade Representative’s annual reports on each economy’s compliance with WTO rules.