The week that was: 13 May 08 - 20 May 08
Anyone in procurement who imagined that counterfeiting was purely an issue for the Chinese authorities would have been shocked with the findings of a study published earlier this week. A report by the European Commission found that the interception of ‘dodgy’ goods had increased massively within Europe’s borders over the past 12 months. And whilst the 17 per cent rise is still overshadowed by the huge numbers of counterfeit goods emanating from China it seems that the need to tackle the ongoing problem of intellectual property protection is as pressing here as it is elsewhere.
Figure of the week – 50 – the potential percentage rise in the price of platinum in 2008, according to a poll of analysts by Reuters.
Procurement Leaders remains in a state of perpetual confusion over the demise, or otherwise, of the credit crunch. Last week the head of International Monetary Fund told a European Parliament Committee that the worst of the financial crisis was over. However, before the sighs of relief were full exhaled, the head of the European Central Bank was telling the BBC that the credit crunch was “ongoing” and warned that a serious cut in interest rates could have catastrophic consequences. So who do we believe? Well, take it with the familiar pinch of salt if you will, but a local barman told Procurement Leaders on Saturday night that the second half of 2008 would signal a change in fortune. He may be right, he may be wrong, but at the moment his prediction is good enough for us.
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