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...solution? Li & Fung is moving up the food chain, becoming a brand-managing powerhouse. This year it is on track to sell more than $200 million of licensed goods like Levi's Red Tab and Signature tops and Disney plush toys--a business many analysts expect to grow to $1 billion by 2007. In August it paid $124 million for the U.S.-based Briefly Stated, which produces pajamas, underwear and T shirts for such diverse brands as Professional Bull Riders Inc. and Catwoman. Eradicating the middleman role for some products could open up other opportunities for the firm too. "This...
Chile, meanwhile, seems to be doing everything right. Though it is small (pop. 16 million), its GDP is $145 billion, one of Latin America's highest per capita, and is expected to grow more than 5% this year with little inflation (though recent labor and student protests indicate Chileans want a larger slice of that wealth). Its size precludes large-scale manufacturing, so it heavily promotes value-added industries for its myriad commodities, like copper and timber. Compañía Sud Americana de Vapores, Latin America's largest maritime-transport concern, reflects how Chile has turned itself from a hemispheric...
...African entrepreneurs; two very different stories. Together they illustrate the promise and pitfalls of business on the world's second fastest-growing continent. Africa? That's right. In October, the IMF predicted that sub-Saharan Africa's real GDP will grow 6.75% in 2008, versus 7.2% in Asia, 3.2% in Europe and 1.9% in the U.S. Growth rates in several African countries evoke the Asian tigers of two decades ago, prompting keen international interest. In October, London-based New Star Asset Management announced the creation of a $200 million Heart of Africa Fund...
...primary focus of U.S. attention today is China, whose economy continues to grow apace and attracts huge amounts of foreign direct investment--an eye-popping $53.5 billion last year. For months now, American economists and politicians have been fretting publicly over whether China is overheating, whether it is the next Asian meltdown-in-waiting and how long its currency can remain so blatantly undervalued against the dollar...
...Sonic Aerospace said it plans to start a budget carrier in China with a Chinese state company. Tiny Singapore will be home to three low-cost airlines: Valuair, Jetstar Asia (which boasts Australia's Qantas Airways as a large shareholder) and Tiger Airways (backed by Singapore Airlines). "We'll grow as quickly as we can and fly wherever we can," vows Stephen Johnson of Indigo Partners, an investment company based in Phoenix, Ariz., that owns 24% of Tiger. But for all those grandiose dreams, executives believe that not all the budget carriers can survive. "There is going to have...