Mahathir Mohamad is one of the Grand Old Men of the Asian political establishment. He was Malaysian premier from 1981 – 2003, and led its rapid modernisation and economic growth. Over the period, which included the Asian financial crisis, the former colony’s economy grew four-fold in real terms, and it is now the 37th largest […]
Tag Archives | Eurozone
Human beings go through a number of stages when confronted by a major change such as today’s Crisis. As first described by Elisabeth Kübler Ross, the process starts with: • Denial that any change is taking place • Then Anger at the implications of the change • Bargaining to reduce its magnitude • Depression as […]
There is much discussion of countries such as Greece being likely to leave the Eurozone. Some even believe it is inevitable. But on a practical basis, how would it happen? This is a question that has been bothering the blog for some months. But with another crisis summit meeting about to start, it is no […]
Europe is at the eye of the storm when it comes to energy pricing. This is the last thing required by its struggling economy. As the chart shows, Brent in euros (green line, RHS) is now back at the same level as June 2008, whereas WTI is 35% cheaper (black line, LHS). Such a divergence […]
New analysis by Bloomberg supports the blog’s view last month that the arrest of former IMF head Dominique Strauss-Kahn (DSK) probably marked a critical turning-point in the Eurozone debt crisis Not only was DSK no longer able to persuade German chancellor Merkel that the problems needed just “a little more time, a little more money”. […]
The Dominique Strauss-Kahn affair may come to be seen as a critical turning point, when the story of the Greek default is written. The then IMF head was en route to meet German Chancellor Merkel, when arrested in New York last month. He had been at the forefront of the campaign to pretend that Greece […]
A thousand years ago, the Viking King Canute had himself carried into the sea by his courtiers. He was the most powerful king of his time. But by showing that he could not turn back the incoming waves, he hoped they would understand that he was not all-powerful. This is a lesson still to be […]
Q1 was a very strong quarter for Western companies operating at the upstream end of the chemicals value chain: • Plants were generally operating well, with few force majeures • Most importantly, the crude oil price jumped 20%. Many buyers had reduced inventory in December for working capital reasons. Then they found they had to […]
There seems to be gathering concern in Germany about the outlook for 2011. This is very significant, as the economy has done well this year, and business confidence is at record levels. Bosch CEO, Franz Fehrenbach, who runs the world’s largest auto parts supplier, has warned that “the rebound in commodity prices will put intense […]
The EU loans crisis began 6 months ago, when it became likely that Greece was never going to be able to repay its debts in full. Since then, Ireland has moved into a similar position. And there are expectations that Portugal and Spain will follow during 2011. Unsurprisingly, however, given the general lack of transparency […]
FREE TRIAL TO ICIS NEWS
LATEST CHEMICAL INDUSTRY NEWS
Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts.
Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.