If what we wear on the outside reflects how we feel on the inside, these are challenging times indeed. Will you fight or choose to take flight, asks MARY LIM
“FOR THE ECONOMIC climate, the present situation is…mid-term scary. I don’t think we will be able to globally avoid a crisis when I see the interest rates so low, when I see the amounts of money flowing into the world, when I see the stock prices which are much too high, I think a bubble is building and this bubble, one day, will explode.”
These words have been repeated in many different ways over several years past. But when uttered by Bernard Arnault, the chairman and chief executive officer of global luxury conglomerate LVMH, they sound even more alarming. His company owns the world’s leading designer brands such as Dior, Louis Vuitton, Bulgari and Tag Heuer.
In his interview with CNBC in June, the French tycoon stopped short of saying that the global financial crisis is at the doorstep. “There has not been a big crisis for almost 10 years now, and since I’ve had a business, I have seen crises more than every 10 years, so be careful.”
American investor Jim Rogers, now based in Singapore, is of the same opinion. In the next few years, a market crash will occur, and it goes downhill from there, he predicts. “Always happens where we’re not looking,” the 74-year-old said in an interview with Business Insider. By “not looking”, he refers to 2007, when the bankruptcy of Ireland snowballed into the collapse of Lehman Brothers and worldwide financial turmoil.
The threat of war, set in motion by the Isis in Syria and Iraq, looms even more dangerously. Our senses are starting to numb as the battle against terror is extended throughout the globe. Heightening the potential for conflict is North Korea, which reportedly successfully tested an intercontinental ballistic missile believed to be able to hit as far as Alaska from its capital Pyongyang.
Denne historien er fra September 2017-utgaven av Prestige Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 2017-utgaven av Prestige Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Sailing Into A Dream
Scenes from the fantasy feature Game of Thrones come to life in the otherworldly landscapes of the Arctic Circle.
Here Come The Sun Seats
Italian furniture has long held the crown for blending luxurious, sophisticated design with impeccable craftsmanship.
ABSOLUMENT FAB
France's premier fair for fine-art and antiques returns for its third edition inside its new home in the Grand Palais.
Through the Director's Lens
Filmmaker JIA ZHANGKE and his protégé RAFAEL MANUEL share their perspectives on life, cinema and their current projects.
THE CUTTING EDGE
Having long played quiet supporting roles in the gem industry, gem cutters are finally having their day in the sun. Four acclaimed independent master gem cutters share more about their love of the craft and the creation of their best pieces.
Spheres of Power
Following up on the gold- and titanium-focused Tiffany Titan by Pharrell Williams launch collection, the superstar now turns to pearls for a softer, but no less striking, second act.
Horological Masterpieces Reimagined
Beyond the wrist, these timekeepers transcend all traditional boundaries.
WILD IMAGINATION
Cartier's latest category-spanning Panthère de Cartier novelties showcase the endless ways in which the panther continues to inspire.
READY FOR ACTION
The latest watch to come from the celebrated Richard Mille and McLaren partnership looks set to be another trailblazing timepiece.
THE RIGHT ANGLES
Twenty-five years after the launch of its last new collection, Twenty-4, Patek Philippe introduces the Cubitus range.