....that's the case - in the Middle East case because of advantaged feedstock and in China's case because it will be strategic.
In previous downturns, far more capacity was western, or other Asian, and liquids based and so rate cuts brought markets more quickly into balance.
The graphs below from ICIS Plants & Projects data show that while only 14.8% of existing capacites comprises the M-E and China, this will rise to 62.3% of the new capacities being brought onstream in 2008-12.
This will leave M-E and China accounting for around 27% of total gobal ethylene capacity.
ME gas crackers + China.ppt.....