China has been the motor of the chemical industry’s recovery since the dark days of Q4 2008. Polyethylene (PE), the largest of the polymer markets, saw volumes rise 53% between then and 2010. But the party has now come to an end, as the government battles the inflation that followed its 2008 decision to double […]
Chemicals and the Economy
China cuts back lending to the USA
The US government used to depend on China to fund its deficit. In 2006, China bought 47.4% of all US bonds issued. But last year, as the chart from the NY Times shows, China bought just 4.6%, leaving US investors to buy the rest. This is a yet another indicator of the profound changes underway […]
Beggar my neighbour
English children have a card game called ‘Beggar my Neighbour’, where the aim is to win all the cards from your opponents. Central bankers seem to be learning its rules, and applying them to currency trading. OPEC’s weekend summit showed it is clearly worried that it will have a losing hand if oil remains priced […]
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