PODCAST: Slowing China will hurt global economy, chemicals
BARCELONA (ICIS)–As lockdowns, the Common Prosperity policy and lacklustre export markets cut growth in China’s economy, the global chemical industry should prepare for negative demand growth in 2022.
- Lockdowns have frozen large sections of China’s economy
- Some restrictions may be in place until November
- May be no China demand rebound in 2022
- Demand for polymers in China may fall this year
- China could drag down global polymer, chemicals demand growth
- China PE, PP margins have often been negative since last year
- Slowing global economy hurts China exports
- China may not remain driver of global economic growth
- Common Prosperity policy undermined by zero-COVID policy, economic problems
- Common Prosperity aims to redistribute wealth, tackle property bubble, environmental problems
In this Think Tank podcast, Will Beacham interviews ICIS senior consultant for Asia, John Richardson.
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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