Terry Guo, Chairman of Hon Hai Group, the largest EMS provider worldwide, forecasts a very challenging year ahead for world economies, mainly driven by the economic and political issues in the Eurozone and a potentially difficult economic condition in the U.S. in 2013 after Presidential elections this year, according to a report by The China Post, citing a recent Chinese magazine interview.

Guo also predicts that China’s exports will be even weaker than that of Hon Hai’s. Despite this, Guo said that Asia, in particular China, will be the growth driver in the future, as European and U.S. manufacturing sectors will continue to remain weak.