New blog entry: “Bad” is just around the corner, which is good
01/09/2015
In his monthly column for September, Mr Peters says that in spite of a downturn in growth in the Chinese domestic economy and a decline there in recent months in mainstream auto sales, and in spite of the recent fall in share prices on Chinese stock exchanges and the devaluation of the local currency, people are optimistic.
In the column, which you can read in full here, Mr Peters says: “The devaluation is not regarded as a big deal, especially as all commodities have come down substantially this year and for the domestic business there are few complaints about a 2% decline in currency. Let’s also not forget that leather is a quasi-recession proof industry.”
He goes on to say that, in speaking to tanners for the past 40 years, he has come to the conclusion that there are only three words used to describe leather business conditions: bad, terrible and worse. But he says his feeling is that “worse” is behind the industry now and that conditions have progressed to “terrible”, with “bad” just around the corner, which is a good thing.
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