In early August, the blog noted that politicians were beginning to recognise the seriousness of the economic situation. First, China’s finance minister Liu He warned that ‘an economic restructuring was inevitable’. Then the UK’s finance minister said the ‘global economy was at a 60-year low’, and France’s Prime Minister added that the world was facing […]
Chemicals and the Economy
‘A very, very serious global economic slowdown’
A trend seems to be developing amongst the world’s policy makers. Last month saw China and the UK’s finance ministries warning of bad times to come. Yesterday, France’s finance minister joined the chorus, saying that she had ‘underestimated the spillover from the US financial and housing market turmoil’. Even more significantly, her boss, French prime […]
Fuel subsidies to double in 2008
Fuel subsidies are set to double this year to at least $100bn, according to the head of the International Energy Agency (IEA), Nobuo Tanaka. This is in spite of the fact that some countries such as Taiwan have recently abolished subsidies, whilst others such as Indonesia have reduced them significantly. But for every subsidy withdrawn, […]
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