Its all about jobs. That’s the clear message from this month’s critical Economic Plenum in China, confirming the blog’s analysis back in February 2012. Of course, there was a lot of detail about future reform plans, which will certainly help to move the country’s economy in the right direction. But in the short-term, the key […]
Chemicals and the Economy
Record $142m for Bacon work shows markets now in “melt-up stage”
The blog is actually a fan of the artist Francis Bacon, and it rather likes the above painting of his friend and fellow-artist Lucien Freud. But the reason for showing it is not to discuss the finer points of art criticism. It is instead simply to note that its sale by auction house Christies in New York last […]
Auto sales face weaker H2
This week’s special blog series has focused on auto markets, a critical source of chemical demand. Today, it concludes by summarising developments in China, USA, EU, which account for ~55% of global sales. They have moved in different directions since the Great Recession began: • China’s volumes soared in 2009-10 • The USA has fallen […]
Facts of the week
The Financial Times reports two interesting facts: • Japan’s leading seismologist warned Tokyo Electric Power in June 2009 that “tsunamis of a completely different scale have come before” in the region of the Fukushima Daiichi nuclear plant. One, in 869, had “destroyed a castle“. But no changes were made to the plant’s defences. • The […]
China’s December surge makes it largest auto market
December was a good month for global auto sales. China’s volume jumped to 1.3 million, as buyers rushed to capture stimulus discounts before they ended. In Beijing, many ‘brought forward’ planned 2011 purchases, in order to beat the new quota system, which aims to reduce congestion by capping 2011 sales at just 240k versus 891k […]
New White Paper now available
We face more uncertainty today than I have ever seen over the past 30 years. Will last year’s strong performance in terms of profit continue? Or will higher oil prices ruin the party? Might China’s demand slow, as the government there worries about rising inflation? How will European demand be impacted as governments switch from […]
China’s Li calls for “reasonable” GDP growth in 2011
The blog is awarding itself a pat on the back today, for its decision to focus on electricity consumption and bank lending as key indicators for China’s economy. According to the Wall Street Journal, these are 2 of the only 3 statistics used by China’s Vice Premier, Li Keqiang (the other is rail cargo). Li’s […]
Global chemical operating rates stay at 85%
October is usually a seasonally strong month for chemical production. Factories are back from the summer holidays, and working flat out to meet orders before the Christmas and Lunar New Year breaks. So it is a bit disappointing that, as the above chart from the American Chemistry Council shows, operating rates (OR%) actually slipped slightly […]
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