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Asia’s Quickening Slump Heading for Us

While what passes for economic debate in this country ranges from whether there will be a recession, to whether we will have a budget deficit (both a big yes), the freight train that is running down the tunnel towards us in the shape of an Asian economic slum, is moving closer at faster speed.

Yesterday Federal Treasurer Wayne Swan appeared on TV and confirmed there would be a “temporary budget deficit”.

No once did he or his questioner look at what is happening in Asia: Mr Swan did mention slowing China, but slumping Japan or slowing South Korea didn’t rate a mention at all. That’s a pity because the news from both countries was terrible.

“You’ve seen a marked slowing in China, and, of course, we’ve seen the unwinding of the mining boom. In the past four or five years, that’s produced a surge of revenue to the Australian nation and of course to our budget bottom line.” Mr Swan said on the Nine Network.

“But if you look at the carnage on the stock market, what’s happened with commodity prices, generally slowing growth, what’s happening with company profitability, I think you’ll see a very big hit to our budget bottom line.

“For example, I think company taxation could be down as much as $50 billion over four years as a consequence of the global recession. Of course, what that means is, because of the unwinding of China, the global recession; it will be inevitable that Australia has a temporary budget deficit.”

But the cover of the current Asian edition of The Economist magazine was headlined: “Asia’s Shock, Where the crisis is hitting hardest.”

It was written before new bad news on industrial production for December from Japan and South Korea, or first and third largest export destinations.

The magazine said: “The scale and speed of that downturn is breathtaking, and broader in scope than in the financial crisis of 1997-98.

“China’s GDP, which expanded by 13% in 2007, scarcely grew at all in the last quarter of 2008 on a seasonally adjusted basis. In the same quarter Japan’s GDP is estimated to have fallen at an annualised rate of 10%, Singapore’s at 17% and South Korea’s at 21%.

“Industrial-production numbers have fallen even more dramatically, plummeting in Taiwan, for example, by 32% in the year to December.”

It’s a pity Mr Swan wasn’t asked about the impact of the terrible figures on Australian exports because the toll will be considerable.

It is now clear it’s not the Global Financial Crisis that is going to hit us in Australia, it’s Asia’s economic slump that will whack us hardest of all, whether China rebounds or not. If it does, that will only soften part of the blow.

Friday the Japanese Government reported that industrial production fell 9.6% in December. South Korea’s fell by the same figure to be down nearly 19% over the year.

Japan’s unemployment rate jumped to 4.4% from 3.9%, the biggest jump in 41 years.

The Government said household spending fell 4.6% in December, the 10th fall in a row as Japanese consumers refuse to open their wallets.

Japan is our biggest export market, taking around $34 billion in shipments in the year to June, 2008.

The drop in Japanese industrial production followed the 35% plunge in exports in the month and a sharp fall in household spending, while unemployment rose.

The record plunge followed the previous record set in November which was originally forecast at an 8.1% fall, then revised down to 8.5%.

That holds out the prospect that the December figure could reach an unheard of 10% cut.

Japanese industrial production has fallen by over 30% since September. No wonder more and more companies are warning of rising losses and starting job cuts in Japan and globally.

The market had been forecasting an 8.9% fall. That’s gloomy number for a forecast, but gets worse. The government re-did its forecasts for January to a 9% drop and February, down another 5%.

In all, that knocks nearly a third off Japan’s output since September.

Macquarie Bank’s Tokyo analysts said it put Japanese output back at 1983 levels.

The figures released Friday also showed a rise in business stocks of unsold goods, which points to further slumps in output in coming months (As does the surge in inventories in the US in the December quarter).

For carmakers, production is forecast to hit just 50% of last year’s levels. Every major sector behind Japan’s export machine is being hurt.

But Japan is not the only Asian economy being battered. South Korean output fell 18.6% year-on-year in December, the economy contracted in the closing months of the year, as did Singapore, Hong Kong and Taiwan.

It was South Korea’s industrial output largest ever monthly drop.

Annual production plunged 18.6% from a year ago, following a 14% drop in November, the National Statistics Office said.

December output fell 9.6% from November as major Korean companies cut output to cope with cooling demand.

The International Monetary Fund forecast this week that the Japanese economy would contract by 2.6% this year, the worst among the major industrialised countries outside of the UK. These latest figures confirm the severity of that forecast.

The Bank of Japan has forecast consumer prices will fall for two consecutive financial years to March 2011.
The bank last week re-wrote its forecasts for Japanese growth next year and admitted that GDP was likely to shrink by about 2% in the year to March 31.

The slowdown in Japan is being felt well beyond its ports.

Production at the UK factory of Japanese motor giant Honda plant in Swindon stopped at end of Saturday’s until June 1.

The 4200 workers will receive their full basic pay for the first two months, reducing to 60% for the rest of the shutdown. More factories in Japan and around the world will follow.

In recent weeks, electronics manufacturers and consumer end users such as Sony have reported savage declines in demand.

Electronics giant NEC said it was slashing 20,000 jobs worldwide to cope with the economic crisis and forecast a loss of $US3.2 billion. Hitachi said it stood to lose $US7.8 billion the March year and announced it would cut up to 7,000 jobs.

All Nippon Airways, Japan’s second-biggest airline, said it now also expected a loss for the current fiscal year.

Honda Motor said net profit in the third quarter was down 89% and it issued its 4th profit downgrade for the year.

The country’s second-largest bank, Mizuho Financial Group, announced losses of $US565 million in the nine months to December.

“Toshiba expects to report a record US3.2 billion net loss this year while Sony is forecasting a US2.9 billion.

Back home in Australia and the financial crunch has seen foreign banks cut their lending to Australian businesses, which in turn have been cutting borrowings as they start battening down the hatches.

The news of the slump in the highly important business lending came from the Reserve Bank’s credit growth figures for December and 2008.

They revealed that if anything, the credit crunch and economic slowdown have already taken a firm grip on lending and our financial system.

The Reserve Bank revealed that lending to Australian consumers and businesses shrank last month for the first time since 1992, with the slowdown in loans in foreign currencies a big part of that development.

“The fall in total credit in December reflected a fall in business credit, which is estimated to have contracted by 1.1 per cent. This reflected a fall in foreign currency denominated lending,” the RBA said.

That development alone will help the RBA cut rates by at least 1% on Tuesday, or even more. It was the first drop in business lending for years.

As well there was a sharp fall of 9.1 points in the latest reading of the Roy Morgan Consumer Confidence poll. The index’s reading of 92 is 26.6 points down from this time a year ago.

“Today more than half of Australians 61% (up 10%) expect “bad times†for Australia economically over the next 12 months compared to just 13% (down 2%) of Australians that expect “good times†economically,” Morgan said in commentary on the poll result.

“Australians are also increasingly worried about their family’s financial situation over the next 12 months with 25% (up 6%) of Australians expecting their family to be “worse off financially†this time next year compared to 32% (down 4%) of Australians that expect their family to be “better off financially.â€

The RBA’s credit figures, especially the slump in business lending and the reason for it, justifies the move by the Federal Government to set up various funds to replace loans and lending to property, cars and other sectors that might be threatened by the exit of foreign lenders from the Australian market.

Total credit fell 0.3% in December from the previous month, according to Reserve Bank of Australia figures out today. That was after a 0.4% rise in November.

The news took the market by surprise, as economists had been forecasting a 0.5% month-on-month gain. For 2008, total credit grew by 6.7% higher, compared with an expectation of a 7.5% increase.

The surprise slump in lending fell largely in the business sector, which fell 1.1% (down 5.2% over the year, thanks in part to the fall in margin lending as the stockmarket plunged).

Housing lending rose 0.4% for an annual rate of 7.6%. There are signs the first home buyers grant given in the $10.4 billion budget stimulus is working. But the annual rate was still the lowest for over a decade.

After falling in December, business credit was up 8% over the year, but down by around two thirds from the 23.8% rate in December, 2007.

Seeing business spending had been holding up the economy as personal spending and housing credit fell, it’s a real worry if the slump continues into the early months of this year, or is made worse by more foreign banks cutting lending that can’t be replaced locally.

We will find out Friday what the RBA thinks the outlook for the economy is with its first Monetary Policy State of the year. We should though, get a hint when it chops rates by at least 1% tomorrow.

Finally here’s what The Economist had to say in the last paragraph of its leader in the current edition.

“If emerging Asia needs a warning of the dangers of relying on exports, it need look no further than Japan.

“Japan’s decade-long stagnation ended in 2002, thanks to a boom in exports, especially to China.

“Now, largely because of its failure to tackle the root causes of weak domestic demand, it is taking more of an economic hiding than any other rich country.”

“Japan used to see itself as the lead goose in a regional flight formation, showing the way to export-led prosperity. It is time for the other geese to break ranks.”

IMPORTANT: AIR reports about financial markets and investment products in the widest sense possible. The AIR website and all its contents is prepared for general information only, and as such, the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore talk with their financial planner or advisor before making any investment decisions.

About the Author

Australasian Investment Review (AIR) is a free daily news service covering global financial markets with a focus on Australia, New Zealand and Asia. Each day our team of experienced journalists presents you with a concise digest of expert opinions and analysis on trends and backgrounds that matter in these markets. Subscriptions are free at aireview.com.au

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2Pcs TB6560AHQ Stepper motor Driver IC For TOSHIBA ZIP-25


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10Pcs TB6560AHQ Stepper motor Driver IC  For TOSHIBA ZIP-25


10Pcs TB6560AHQ Stepper motor Driver IC For TOSHIBA ZIP-25


$23.47


TB6560AHQ Stepper motor Driver IC  For TOSHIBA ZIP-25


TB6560AHQ Stepper motor Driver IC For TOSHIBA ZIP-25


$2.44


5pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


5pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


$10.47


20pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


20pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


$64.57


2pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


2pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


$4.23


10pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


10pcs TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


$23.46


TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


TB6560AHQ PWM Chopper Bipolar Driver IC TOSHIBA F Stepper Motor Controller


$2.45









4257 Stepper Motor Driver Board / Drive Toshiba Tb6560 3A 2 Axis Shared Heatsink


4257 Stepper Motor Driver Board / Drive Toshiba Tb6560 3A 2 Axis Shared Heatsink


$45.98


4257 stepper motor driver board / drive Toshiba TB6560 3A 2 axis shared heatsink

1) Working voltage DC 10V-35V. Recommended to use a switching power supply DC24V power supply. (Power input termination reverse protection diode)

2) 6N137 high-speed optical coupling, guarantee high speed without losing step.

3) using the Toshiba TB6560AHQ new original chip with low pressure off, overheating parkin…








TA8050P 1.5a Motor Driver with Brake Function


TA8050P 1.5a Motor Driver with Brake Function


$2.95



Pumpkin 6.95 Android 4.4.4 Universal In Dash HD Touch Screen Car DVD Player Double Din GPS Navigation Stereo AM/FM Radio Support SD/USB/Bluetooth/3G/Wifi/OBD2/1080P/DVR With Free External Microphone and backup Camera As Gift


Pumpkin 6.95 Android 4.4.4 Universal In Dash HD Touch Screen Car DVD Player Double Din GPS Navigation Stereo AM/FM Radio Support SD/USB/Bluetooth/3G/Wifi/OBD2/1080P/DVR With Free External Microphone and backup Camera As Gift


$599.99


*System and Hard Parameters
Language:English,German,French,Italian,Spanish,Portuguese,Russian,Polish,Turkish,Arabic,Korean,Japanese,Danish,Dutch,Swedish,Chinese,Hebrew;
OS:Android 4.4 system;
CPU: Rockchip 3066 Cortex A9 dual-core;
RAM: SAMSUNG DDR3 1GB;
Flansh: 8GB;
Radio: FM/AM;
GPS: SIRF III;
Screen: Capacitive and multi-touch screen (Original Hanstar Screen);
TFT drive:RK3066…

Pumpkin Android 4.4.4 KitKat Car DVD Player 6.2 inch Double Din In Dash Capacitive HD Multi-Touch Screen GPS Navigation Radio Stereo Support Bluetooth/SD/USB/Ipod/Iphone/AM/FM/AV-IN/OBD2/3G/Wifi/DVR


Pumpkin Android 4.4.4 KitKat Car DVD Player 6.2 inch Double Din In Dash Capacitive HD Multi-Touch Screen GPS Navigation Radio Stereo Support Bluetooth/SD/USB/Ipod/Iphone/AM/FM/AV-IN/OBD2/3G/Wifi/DVR


$329.99


*System and Hard Parameters
Language:English,German,French,Italian,Spanish,Portuguese,Russian,Polish,Turkish,Arabic,Korean,Japanese,Danish,Dutch,Swedish,Chinese,Hebrew;
OS:Android 4.4 system;
CPU: Rockchip 3066 Cortex A9 dual-core;
RAM: SAMSUNG DDR3 1GB;
Flansh: 8GB;
Radio: FM/AM;
GPS: SIRF III;
Screen: Capacitive and multi-touch screen (Original Hanstar Screen);
TFT drive:RK3066…

3HP TOSHIBA 3600RPM 182T 230/460V TEFC EQP GLOBAL SD #0032SDSR41A-P


3HP TOSHIBA 3600RPM 182T 230/460V TEFC EQP GLOBAL SD #0032SDSR41A-P


$435.27


Toshiba, General Purpose, EQP Global SD, Totally Enclosed Fan Cooled, NEMA Premium Efficiency…







Makita 9820-2 1.1 amp Horizontal Wheel Wet Blade Sharpener


Makita 9820-2 1.1 amp Horizontal Wheel Wet Blade Sharpener


$331.64


Blade sharpener features a large 7 7/8in. aluminum-oxide wheel for efficient sharpening. Sharpens planer blades (knives) up to 15 3/4in. long. Amps: 1.1, Case Included: No, Cooling System: Water feed, Product Type: Sharpener, Speed (RPM): 560, Wheel Size (in.): 7 7/8, Wheel Type: Aluminum oxide…

Toshiba Debuts Microcontrollers for Hybrid/Electric Cars.: An article from: Electro Manufacturing


Toshiba Debuts Microcontrollers for Hybrid/Electric Cars.: An article from: Electro Manufacturing


$9.95


This digital document is an article from Electro Manufacturing, published by Worldwide Videotex on August 1, 2011. The length of the article is 574 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Toshiba Debuts Microcontrollers for…


 Toshiba 250 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer - Bulk


Toshiba 250 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer – Bulk


$52.99


Toshiba America Information Systems, Inc. (TAIS), Storage Device Division introduces the MK2552GSX 2.5-inch 250GB Hard Disk Drive. The MK2552GSX offers the industry’s highest areal density per platter, at 251.6 giga bits per square inch. The drive’s 5400 RPM motor speed, improves system-level performance by as much as 12 percent when compared to 4200 RPM. This new drive offers enough capacity for portable video recording and editing, with lower power consumption compared to the traditional 3.5-inch HDDs. This functionality provides ideal storage for a range of commercial and consumer notebooks, as well as non-PC applications such as PDAs, printers, copiers, GPS systems and MP3 players. The MK2552GSX incorporates the Serial ATA (SATA) 2.6 interface, supporting high media transfer rates of up to 801 megabytes per second.

 Toshiba 80 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer


Toshiba 80 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer


$52.99


Toshiba America Information Systems, Inc. (TAIS), Storage Device Division introduces the MK8052GSX 2.5-inch 80GB Hard Disk Drive. The MK8052GSX offers the industry’s highest areal density per platter, at 251.6 giga bits per square inch. The drive’s 5400 RPM motor speed, improves system-level performance by as much as 12 percent when compared to 4200 RPM. This new drive offers enough capacity for portable video recording and editing, with lower power consumption compared to the traditional 3.5-inch HDDs. This functionality provides ideal storage for a range of commercial and consumer notebooks, as well as non-PC applications such as PDAs, printers, copiers, GPS systems and MP3 players. The MK8052GSX incorporates the Serial ATA (SATA) 2.6 interface, supporting high media transfer rates of up to 801 megabytes per second.

 Toshiba 80 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer


Toshiba 80 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer


$25.22


Toshiba America Information Systems, Inc. (TAIS), Storage Device Division introduces the MK8052GSX 2.5-inch 80GB Hard Disk Drive. The MK8052GSX offers the industry’s highest areal density per platter, at 251.6 giga bits per square inch. The drive’s 5400 RPM motor speed, improves system-level performance by as much as 12 percent when compared to 4200 RPM. This new drive offers enough capacity for portable video recording and editing, with lower power consumption compared to the traditional 3.5-inch HDDs. This functionality provides ideal storage for a range of commercial and consumer notebooks, as well as non-PC applications such as PDAs, printers, copiers, GPS systems and MP3 players. The MK8052GSX incorporates the Serial ATA (SATA) 2.6 interface, supporting high media transfer rates of up to 801 megabytes per second.

 Toshiba MK-8026GAX 80 GB 2.5 Internal Hard Drive - IDE - 5400 rpm - 16 MB Buffer


Toshiba MK-8026GAX 80 GB 2.5 Internal Hard Drive – IDE – 5400 rpm – 16 MB Buffer


$64.99


The MK8026GAX offers the industries highest areal density per platter, at 64.7 gigabits per square inch. The drive’s 5400 RPM motor speed, improves system-level performance by as much as 12 percent when compared to 4200 RPM.

 Toshiba MK1652GSX 160 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer - Hot Swappable


Toshiba MK1652GSX 160 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer – Hot Swappable


$56.7


Toshiba America Information Systems, Inc. (TAIS), Storage Device Division introduces the MK1652GSX 2.5-inch 160GB Hard Disk Drive. The MK1652GSX offers the industry’s highest areal density per platter, at 254 gigabits per square inch. The drive’s 5400 RPM motor speed, improves system-level performance by as much as 12 percent when compared to 4200 RPM. This new drive offers enough capacity for portable video recording and editing, with lower power consumption compared to the traditional 3.5-inch HDDs. This functionality provides ideal storage for a range of commercial and consumer notebooks, as well as non-PC applications such as PDAs, printers, copiers, GPS systems and MP3 players. The MK1652GSX incorporates the Serial ATA (SATA) 3.0Gbps interface and is ATA-8 compliant, supporting high media transfer rates.

 Toshiba MK2546GSX 250 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer - Hot Swappable


Toshiba MK2546GSX 250 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer – Hot Swappable


$73.75


MK2546GSX Hard Drive is the perfect hard disk drive solution for many of today’s electronic devices needing high capacity with low power consumption in a 2.5-inch form factor. The MK2546GSX also offers the industries highest areal density per platter and has a motor speed of 5400 RPM which is an improved performance of more than 12% compared to the standard 4200 RPM models.

 Toshiba MK4032GAX 40 GB 2.5 Internal Hard Drive - IDE - 5400 rpm - 8 MB Buffer


Toshiba MK4032GAX 40 GB 2.5 Internal Hard Drive – IDE – 5400 rpm – 8 MB Buffer


$39.99


Toshiba America Information Systems, Inc. (TAIS), Storage Device Division introduces the MK4032GAX 2.5-inch 40GB Hard Disk Drive. The MK4032GAX offers the industries highest areal density per platter, at 68.0 gigabits per square inch. The drive’s 5400 RPM motor speed, improves system-level performance by as much as 12 percent when compared to 4200 RPM.This new drive offers enough capacity for portable video recording and editing, with lower power consumption compared to the traditional 3.5-inch HDDs. This functionality provides ideal storage for a range of commercial and consumer notebooks, as well as non-PC applications such as PDAs, printers, copiers, GPS systems and MP3 players. The MK4032GAX is ATA-6 compliant, supporting high transfer rates of up to 100 megabytes per second.

 Toshiba Mobile 100 GB 2.5 Hard Drive - IDE - 4200 rpm


Toshiba Mobile 100 GB 2.5 Hard Drive – IDE – 4200 rpm


$65.52


Massive capacity has been achieved through the development of head, media, signal processing technology, servo technology as an element technology allowing up to to 13.2Gb/cm2 (85.2Gb/in 2) high density and up to 50GB per disk, 100GB per drive (2 disks) high capacity. FDB (Fluid Dynamic Bearing) spindle motor and Head Load/Unload mechanism enable in high shock tolerance. The drives withstand up to 900Go-p (duration 1ms) non-operating shock and up to 225Go-p (duration 2ms) operating shock.

 Toshiba Mobile 80 GB 2.5 Internal Hard Drive - IDE - 5400 rpm - 8 MB Buffer


Toshiba Mobile 80 GB 2.5 Internal Hard Drive – IDE – 5400 rpm – 8 MB Buffer


$49.4


Fujitsu is once again proving that less is more. Our newest 2.5-inch mobile hard disk drive offers increased capacity and processing power, yet actually reduces the power needed to do so. Fluid Dynamic Bearing (FDB) motor helps limit acoustic noise, resulting in whisper-quiet operation.

 Toshiba Mobile MHT2040AH 40 GB 2.5 Internal Hard Drive - IDE - 5400 rpm - 8 MB Buffer - 1 Pack


Toshiba Mobile MHT2040AH 40 GB 2.5 Internal Hard Drive – IDE – 5400 rpm – 8 MB Buffer – 1 Pack


$39.95


Thanks to their high capacities, performance and reliability, Fujitsu’s family of 2.5 disk drives are equally at home in notebooks and non-PC applications, such as consumer electronics, audio-visual products, GPS and in-car entertainment systems, and much more. They offer high storage densities (up to 40 GB/platter), spindle motor speeds of up to 5,400-RPM, ATA-100 interfaces, 8-MB buffers, head load/unload technology, Silent HDD technology that is based on Fluid Dynamic Bearing (FDB) spindle motors, and an intelligent seek profile that reduces acoustic noise up to 30% compared to previous models.

 Toshiba Mobile MHV2060BH 60 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer


Toshiba Mobile MHV2060BH 60 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer


$65.52


This efficient hard disk drive provides the best of all worlds. With higher shock tolerance and improved input-output per second (IOPS) rates, both performance and reliability are increased when using multiple hard disk drives. Fluid Dynamic Bearing (FDB) motor helps limit acoustic noise, ensuring whisper-quiet operation. And you can rely on the 2.5-inch SATA hard disk drive to meet industry specifications.

 Toshiba Mobile MHV2080BH 80 GB 2.5 Internal Hard Drive - SATA - 5400 rpm - 8 MB Buffer


Toshiba Mobile MHV2080BH 80 GB 2.5 Internal Hard Drive – SATA – 5400 rpm – 8 MB Buffer


$20.89


This efficient hard disk drive provides the best of all worlds. With higher shock tolerance and improved input-output per second (IOPS) rates, both performance and reliability are increased when using multiple hard disk drives. Fluid Dynamic Bearing (FDB) motor helps limit acoustic noise, ensuring whisper-quiet operation. And you can rely on the 2.5-inch SATA hard disk drive to meet industry specifications.

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