Michael Duck - APLF Director
The In his remarks at the opening of APLF 2019, director of the company that organises the event, Michael Duck, said that tanners’ present plight of lower prices and lower demand is being exacerbated by a downturn in the automotive market.
Even in China, he said, the car market “seems to be taking a breather” because sales there dipped for the first time in two decades in 2018.
Asked if he was encouraged by some of the measures the Chinese government has announced to stimulate consumer spending, he said he took hope from the suggestion that banks in China have been asked to make more money available to consumers to spend.
“Banks will release more than 30% more loans,” he explained, “and Chinese people will go and spend the money. Chinese people are very patriotic and if they think it will help the Chinese economy, they will spend. Therefore, what I see is that, this year, there should be reasonably good growth.”
Report courtesy of Leatherbiz