Asian Chemical Connections
Often called a "pillar" of the Chinese economy, textile manufacturing rises from a foundation that is not entirely within the country's control chemical feedstocks. China's major resource advantage is inexpensive skilled labor, not raw materials, and it must procure huge volumes of chemical intermediates abroad because it has too little petroleum and natural gas to make them at home.
© Rex FeaturesChina does, however, have some of the largest coal reserves in the world.
INSIGHT: Wall Street to slash chems earnings estimates on lower oil
"The premise of whether lower or higher oil prices are better for chemical producers is still a point of debate."
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