29 July 2013 22:25 [Source: ICIS news]
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Much has been made of the Chinese government working to cool down its economy, with Q2 GDP recently clocking in at 7.5%, the lowest figure in four years.
Mike Shannon, global leader of chemicals and performance technologies practice for KPMG, said the Chinese economy’s deceleration should not be viewed as the beginning of the end for making business in-roads in the country.
“I don’t think the engine is drying up,”
The analyst sees
“The market is starting to see more specialty products take hold,” he said. “If you have a higher value product, companies now are more willing to pay for that.”
And when it comes to making specialty chemicals for the Chinese market, Western producers have the advantage there, he added.
Fellow analyst Paul Harnick, KPMG’s global chief operating officer for the company’s chemicals and performance technologies practice, offered that many companies are “almost too focused on
Harnick sees countries such as the
Shannon agreed, but maintained that
“It’s still the main region of growth,” he said.
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