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China’s apparent demand growth in polypropylene (PP) was just one 1% in Q1 as imports fell by 20%. This was the result of a decline in the availability of credit which led to a slowdown in sales growth in one key end-use sector for PP – autos. Overall economic growth could be further jeopardised if the Chinese government switches its attention to controlling the rise in consumer debts. So far, economic reforms have been aimed at reducing corporate debts.
Editor’s note: This blog post is an opinion piece. The views expressed are those of the author, and do not necessarily represent those of ICIS.