Debt can’t make a country middle-class overnight. Even a massive amount of debt can’t achieve this. Even the largest amount of debt in history can’t do this. China’s experience since 2007, when it increased debt four-fold, proves this. As McKinsey have reported, China increased its debt from $7tn in 2007 to $28tn by the middle of […]
Chemicals and the Economy
Mckinsey says global debt now 3x global GDP, and rising
A major new report from consultants McKinsey confirms my concerns over the dramatic increase in global debt levels since stimulus policies began in 2008. As their chart above highlights: Global debt has risen by $57tn to $199tn since 2007, nearly 3x global GDP Government debt is up by $25tn, with three-quarters of this in the developed […]
Do you know where your polyethylene is in China?
In the late 1970s and early 1980s, New York Mayor Ed Koch fronted a series of public service TV commercials asking parents: “Its 10pm. Do you know where your children are?” The blog was reminded of this when checking China’s polyethylene (PE) import data on Global Trade Information Services for the January – May period, as shown […]
Jump to page: