PODCAST: New Asia trade bloc is good news for China chemicals, disaster for US

Author: Will Beacham

2020/11/17

BARCELONA (ICIS)--A newly formed free-trade bloc, containing almost one-third of the global economy, will push developing economies together at the expense of the US and its allies.

  • The Regional Comprehensive Economic Partnership (RCEP) signed by China, 10 southeast Asian countries, plus South Korea, Japan, Australia and New Zealand
  • Aims to eliminate tariffs and simplify Rules of Origin
  • Developing economy bloc may become self-sufficient
  • US, Europe chemicals left with slow/zero growth markets
  • ICIS data shows chemical industry upswing towards year end
  • China’s economy is powering global chemicals into positive 2020 growth

Podcast interview with Paul Hodges, chairman of New Normal Consulting; John Richardson ICIS senior consultant Asia; and Nigel Davis, ICIS Insight editor.

Interview by Will Beacham

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.

Read this week's ICIS Chemical Business.

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Read Paul Hodges ICIS Chemicals and the Economy blog.

Read John Richardson's Asia Chemical Connections blog.

Interview by Will Beacham