BARCELONA (ICIS)--A more optimistic outlook for the global economy and chemicals could be jeopardized by rising geopolitical instability.
- Current downturn reminiscent of 1970s' oil shock
- Global GDP growth could start to recover from 2025
- Geo-political risks are rising and could jeopardise economy
- Chemicals CEOs slightly more upbeat
- PMIs show China manufacturing now expanding
- But China challenged by debt, property bubble, youth unemployment, demographics
- Expect 2-3%/year China GDP growth in 2030s as population declines
- Europe economy is stabilising, driven by services
- US economy should see a soft landing
In this Think Tank podcast, Will Beacham interviews ICIS chief economist Kevin Swift, ICIS Insight editor Nigel Davis and Paul Hodges, chairman of New Normal Consulting.
Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.
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