Soaring energy costs and inflation, the weakest euro in 20 years, and Russia's invasion of Ukraine are pushing Europe's major economies closer to recession. The OECD projected euro zone economic growth would plunge from 3.1% this year to only 0.3% in 2023. The economic challenges are also putting a squeeze on retail goods, which are expected will hit exports from the Mainland and ASEAN, as European consumers tighten their belts for a tough winter. Will the weak euro drive export growth and investment from member countries, or impact future confidence and investment in the bloc? Or is this a crisis out of which savvy entrepreneurs will find opportunities? To help members understand what risks and opportunities may lie ahead, the Chamber has invited two business and investment analysists to share their views on 7 December. Jan Friederich, Senior Director, Fitch Ratings, will discuss the outlook for the European economy in the context of the energy crisis and how it impacts some of the underlying factors of the euro's weakness against the dollar. Eberhard Brodhage, Founder, Asia Europe Business Partners Ltd, and former country CEO for Commerzbank Hong Kong, speaking from Berlin, will try to make sense of the multiple crises that Europe is battling. He will also analyze what these could mean for companies doing business with and investing in the EU for the coming year. |