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

Will Beacham

17-Nov-2020

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

Click here to listen to the podcast

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.

ICIS is organising regular updates to help the industry through this time of crisis. Register here .

Read Paul Hodges ICIS Chemicals and the Economy blog.

Read John Richardson’s Asia Chemical Connections blog.

Interview by Will Beacham

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