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APLA: Latin American Firms Brace for a Difficult 2009

4:57 AM MST | November 17, 2008 | Kara Sissell in Rio de Janeiro

Latin American countries are bracing for a difficult 2009 as  regional GDP growth is expected to be far lower than earlier predictions, according to speakers at the Latin American Petrochemical Association (APLA) annual meeting, being held in Rio de Janeiro. A surge in global ethylene capacity in 2009 will coincide with a further drop in petrochemical prices and the price decrease could be as much as 44%, says Paulo Rabello de Castro, a Brazilian economist and v.p. of the Instituto Atlantico. Latin American countries are more experienced in dealing with...

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