One reason I 'expect' a 'surprise' upside in US client numbers.
US GDP per capita is high, but not evenly distributed. Below is a table of the Gini index.
"Distribution of family income - Gini index measures the degree of inequality in the distribution of family income in a country. The more nearly equal a country's income distribution, the lower its Gini index, e.g., a Scandinavian country with an index of 25. The more unequal a country's income distribution, the higher its Gini index, e.g., a Sub-Saharan country with an index of 50. If income were distributed with perfect equality the index would be zero; if income were distributed with perfect inequality, the index would be 100" https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html
I live in Australia. Post ww2 family moved to Canada, NZ, and Aust. Then settled in NZ and Aust. Post agrarian economy (post 1980's free trade) the NZ side of the family always did it tougher. There is a noticeable day to day difference between Gini 30 and 36. 30 is a light ambiance of, "have a go it will probably work". 36, is a grind. Potato chip sandwiches is more of a NZ thing. Roast lamb is more of an Australian thing if you can see / feel the difference in life style. Look at the US Gini!!!! it is more of a riot / starve / illegal immigrant labor thing. On this logic (high Gini = good market for APT) Malaysia would be a good market. Strong demand. Malaysia Gini = 46.2 in 2009. Also it would fit with Sharia law, for the more observant Muslims.
Gini index
1
134Australia30.3
30.3
2
117Canada32.1
32.1
3
116United Kingdom32.4
32.4
4
88New Zealand36.2
36.2
5
39United States45.0
45
APT Price at posting:
$47.41 Sentiment: Buy Disclosure: Held
