Friday, November 4, 2011

Philippe Waechter, "Growth of the Reunion Island through more regional trade"


Philippe Waechter, director of economic research at Natixis Asset Management, gave an interview to our colleague Reunion Thursday. Excerpts.
Question: What is your view on the Indian Ocean region?
Answer: The exchanges are growing and are more dense. This can be seen on the market in the Asia and the Indian Ocean, and in the evolution of foreign trade of the Meeting, for example, with higher imports from Asia. In this changing environment, I believe that growth in emerging countries more independent vis-à-vis developed countries is one of the important facts of the past 10 years. It also results in more significant exchanges between developing countries. The dynamics of each economy is strengthened, forcing them to be more responsive and flexible to adapt to the environment. This is a more complex situation, but certainly richer in growth and jobs. This is clearly the perception I have of the Indian Ocean area.
Question: A crisis for the meeting she goes through a development of trade with its immediate neighbors rather than the city?
Answer: In the coming years, the growth dynamics for the meeting is likely to increase in participation in this trade more than local pending pulse from the metropolis. The geographical area is growing rapidly creating similar opportunities.
Question: What do you think are the prospects for ending the crisis in Europe?
Answer: In Europe, the situation is difficult to adjust and should result in a period of resorption of debts, public and private, which will be associated with slow growth. It seems therefore necessary to develop local ownership is in a favorable environment, even if short-term dynamics is less flamboyant but this should be temporary
(Interview by EM, The Journal of the island of Reunion.)

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