On December 19, China Credit Insurance Corporation released the “Country Risk Analysis Report” and global risk map. Due to the impact of the global financial turmoil, short-term credit risks in North America have increased significantly, and Europe has become the second “hardest hit area” in terms of export risks.
From January to November 2008, the losses of Chinese export companies in the United States increased significantly. Judging from the reports received by China Sinosure, textile products have the largest amount of reported losses, exceeding 10 million US dollars.
At the same time, Europe has become the region where textile export companies have been most severely damaged. The amount of losses reported by textile companies received by China Credit Insurance increased by more than one million US dollars compared with the same period in 2007.
In contrast, due to the relatively limited direct and short-term impact of the financial crisis, risk levels in Africa are less volatile and are still dominated by fundamental risks. But relative to other regions, Africa still has the highest absolute level of overall risk.
