Risk is the ‘blue touch paper’ which once lit, can ignite the firework causing it to sail into the sky, or, if it fails to light, will result in unfulfilled expectation.
With the exception of those engaged on military procurement, the successful involvement in trade requires risk free ventures. In terms of steel use, construction totalled ~50%, Engineering products ~40%, transport ~5%, electrical goods ~3% and domestic ~2%. In that year Global Industrial GDP was ~US$22 trillion of which construction dominated with ~47%, agriculture with ~15% and oil/gas, automotive and aerospace at ~10% each. This article will seek to examine the: who, how, why, where and when impact that inflation may/will have on the global fastener industry.īecause of the Covid-19 pandemic, to make any sensible comparison with recent industrial data it is necessary to track back to 2018. For these reasons if for nothing more, since fasteners quite literally hold virtually all assembled manufactured goods together, inflationary pressures on fasteners caused by these events must be important and of concern. The third decade of this century has witnessed the first global pandemic in one hundred years and the first invasion of a European country in seventy five. This may not be what is wanted or required?
Remove a vacuum and the available space can be rapidly refilled by what is readily available and which flows most quickly and freely. This is because the opposite of inflating space with a medium is withdrawing it which in turn produces a vacuum. Whilst the economic aspects of inflation will predominate here, it is also possible that the context of the space itself may be considered important. For governments, it means a reduction in the value of the currency and hence its purchasing power. For someone in purchasing it indicates a rise in the price of goods and services. For a balloonist and a cosmologist, it implies an expansion of space. The definition of inflation is related to the context in which it is used. By Dr Peter Standring, technical secretary, Industrial Metalforming Technologies (IMfT)