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We had exhibited at Hong Kong Jewellery & Gem Fair June, held at the Hong Kong Convention & Exhibition Center, for 4 days from 21/06/2018 to 24/06/2018．
The US-North Korean summit, which had been thought to be canceled temporarily, was held on the 12th of this month, and denuclearization agreement was concluded at this meeting. From the expectation that it might bring the Korean Peninsula is going to be expected, the geopolitical risk has been retreated．By this thing, gold and yen which are regarded as safe assets were sold and Japanese stocks were bought; yen became mid 110 levels and Nikkei Average rose around 200 points to go over 23,000 levels． The next day, on 13th, FRB decided to raise interest rates at FOMC for the first time in three months． It because that prices started to rise in the US economic recovery phase, also it seems that price indexes have started to rise; most of the price index has reached 2％ targeted by the FRB and the economy and employment are judged to be improving.
After this, it is predicted that money from all over the world is headed to the US due to the rise in interest rate. Along with the economic expansion, the US interest rates are easy to rise even now, and economic policy of President Trump is spurring the rise further. If the expansion of the fiscal deficit accelerates as a result of large tax cuts and fiscal expansion, the US Treasury might embark on the increase in US government bonds. For that reason, it is expected that the rise in long-term interest rates and the declining pressure on bond prices will further increase in the US．The US government bonds are standards for all asset management in the world, and movements of these bonds may change the scenery of the world in the future
The current world economy is led by the two major economic powers of the United States and China, but it is expected that this form will become stronger if political risk is weakened．In the United States, high interest rates attract world money and together with return money which American companies have in overseas makes double effect, the future economic boom is expected． The rapid growth of three companies called BAT such as Baidu, Alibaba and Tencent in China, and the rise of these Shenzhen based ICT enterprises like Xiaomi, Didi Chuxing and Mobike believed to make further growth of Chinese economy．World top 10 market capitalization companies are only US and Chinese companies now, and it is very much different from 10 years ago. Japanese companies are no longer in the top 20．
There are 108 unicorn companies in the United States and 58 companies in China, widening the gap from other countries. Currently it is said to be a disparate society, but it seems that more and more human resources gap and economic disparity will progress in the future．This tendency seems to have appeared also in this jewelry show． There were a lot of buyers came from the first day． Even there were buyers from the US and Taiwan, but I had the impression that majority of the buyers were Chinese. Chinese buyers were highly motivated to buy expensive items without hesitation if prices and quality match, while the others were just looking. It is no exaggeration to say that Chinese buyers brought bustle at this jewelry show.
Also, in China, 35％ import tariffs have been imposed on jewelry, but it has been decided that it will be 10％ from July．For the reason above, I believe that deal of jewelry for China would increase and business gets hot in the future．
Recently, it is in the vigilant situation that trade friction between the US and China might occur by retaliation tariffs over these countries．And, their policies in both countries will affect the entire world, and this influence can be thought to extend to our industry also． Our industry is currently undergoing a major turning point, and might be changed greatly in the future．
Many people visited us even under such circumstances at this fair． I felt that people who came to our booth were a lot of positive people with strong willingness to purchase． Even thoughour industry is not in a good situation at this moment, but I felt that business disparity will be widen between the people who act and those who do not act, in the future．We will make every effort to make our booth attractive to the people who act forward positively． And, we would like to give our sincere gratitude to all of you who visited our booth this time．We are looking forward to seeing you again at the next fair．
