more driven by the global weakness of falling demand on ships, that rather than the tension between the us and china. however, going forward, this will have more significant impact in the coming months. this could be a warning, though, for asian economies which rely so heavily on exports and in particularfor south korea, taiwan, a specific industry like chips? industry like chips? yes, that is one of industry like chips? yes, that is one of the industry like chips? yes, that is one of the major industry like chips? yes, that is one of the major risks - industry like chips? yes, that is one of the major risks for l is one of the major risks for taiwan and korea s economy. however, for korea s case, actually, the domestic demand cycle is also going to bottom out, so probably on gdp, overall gdp, it will be in second half next year, and also we believe the opening of china is going to boost some of the
is the cost of living crisis eating into consumers budgets? yeah, we have had this macro fear in kind of touching the consumer wallet for i think well over a year by now with various different aspects of it. last year i believe our category fared relatively well. we grew our business by 7% in 2022. so we kind of stood quite strong. the other aspect i think it is important to remember in particularfor the pandora case, a lot of our products are bought to be used as gifts to celebrate birthdays and other things, so that puts a level of resilience into the business. so actually so far we are quite pleased with what we are seeing. are people still buying jewellery? perhaps less expensive items? we look at the level of traffic, which has been very healthy in the last 12 18 months. we convert at a very
and of course then it normalised after that. so whether that was revenge spending or people just kind of wanting to get out of their houses, i don t know. and outside of china how are things holding up? is the cost of living crisis eating into consumers budgets? yeah, we have had this macro fear in kind of touching the consumer wallet for i think well over a year by now with various different aspects of it. last year i believe our category fared relatively well. we grew our business by 7% in 2022. so we kind of stood quite strong. the other aspect i think it is important to remember in particularfor the pandora case, a lot of our products are bought to be used as gifts to celebrate birthdays and other things, so that puts a level of resilience into the business. so actually so far we are quite pleased with what we are seeing.
of his administration majorforeign policy failures of his administration in the first year that he was in power, and this comes as congress has increased its scrutiny of the afghanistan withdrawal because the republican house is now investigating it and it comes as narratives will begin to shape up, given the fact that the 2024 elections are now looming on the horizon. so the white house looming on the horizon. so the white house is looming on the horizon. so the white house is blaming - looming on the horizon. so the white house is blaming the - white house is blaming the chaos on a deal that the former president donald trump had made with the taliban a year earlier. how fair is that in your assessment given the research you have done in this area? , . , ., ., area? the trump administration is certainly area? the trump administration is certainly to area? the trump administration is certainly to blame area? the trump administration is certainly to blame partly - is certainly
that we are keeping an eye on. it is a real concern, no certainly in the uk we ve seen where supermarkets in the past have driven down what they spend and what they pay producers and farmers, that situation is having to change, isn t it? because of course there is a shortage, there is a lack of goods in supermarkets right now. lack of goods in supermarkets right nova lack of goods in supermarkets riaht now. . ., , right now. yeah, we are seeing countries right now. yeah, we are seeing countries take right now. yeah, we are seeing countries take measures - right now. yeah, we are seeing countries take measures to - right now. yeah, we are seeing countries take measures to try | countries take measures to try to boost local production, to try to protect local supplies in order to ensure food levels in order to ensure food levels in their own countries and especially a lot of countries for example that provide subsidies, in particularfor subsidies, in particular for wheat subsidies,