China capitalizes on crisis

July 2007
ICIS Chemical Business Americas;7/2/2007, Vol. 272 Issue 1, p20
Trade Publication
The article reports on the impact of Asian financial crisis on China's petrochemical position. While China and Southeast Asian countries such as Indonesia and Thailand were mentioned in the same breath before the crisis, project delays and cancellations during the recession enabled China to steam ahead. However, chemical investments were particularly badly hit in Indonesia and South Korea. In contrast, China's fortunes have improved in the past 10 years. It enjoys a gross domestic product growth of 9-10%/year, compared with 4-5%/year for Southeast Asia.


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