By John Richardson CONVENTIONAL wisdom, as everyone should have discovered over the last 16 months, has a horrible habit of being completely wrong. Today, therefore, if anybody tells you this, “China might widen the band within which the Yuan trades against the US, but, other than that, it won’t allow a sharp depreciation of its […]
Asian Chemical Connections
What Yuan Depreciation Means
By John Richardson THE truth is that nobody has ever entirely understood the nature of China’s chemicals and polymers demand. During the good times, at the height of China’s credit Ponzi scheme, if you were a sales manager, why ask too many questions? Sales were sales and if mono-ethylene glycol (MEG) ended up stuck in […]
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