The value of global trade in 2020 could drop anywhere between 11 per cent and 30 per cent, according to the International Chamber of Commerce. Photo: AP The value of global trade in 2020 could drop anywhere between 11 per cent and 30 per cent, according to the International Chamber of Commerce. Photo: AP
The value of global trade in 2020 could drop anywhere between 11 per cent and 30 per cent, according to the International Chamber of Commerce. Photo: AP

Trade

Asian suppliers brace for ‘insolvency storm’ from cash-strapped buyers amid rise in overdue payments

  • As Covid-19 brought business to a halt, many small Asian suppliers and exporters have seen a huge rise in overdue payments from their buyers who trade on credit, a survey has found
  • India, Taiwan saw the greatest increase in overdue payments, but the worst is yet to come as the coronavirus is seen reducing global trade by up to 30 per cent

Topic |   Trade
The value of global trade in 2020 could drop anywhere between 11 per cent and 30 per cent, according to the International Chamber of Commerce. Photo: AP The value of global trade in 2020 could drop anywhere between 11 per cent and 30 per cent, according to the International Chamber of Commerce. Photo: AP
The value of global trade in 2020 could drop anywhere between 11 per cent and 30 per cent, according to the International Chamber of Commerce. Photo: AP
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