China Slows

China has been one of the main drivers of growth for the global economy and the chemical sector during the past decade, but a slowdown in 2012 has cooled global chemical demand (p. 19). Economic growth in emerging economies, led by China, have been well above rates in the U.S., Europe, and Japan, helping industry escape global recession. It turns out, however, that China is not immune, as weakness in Europe has hurt Chinese exports. Growth remains positive but has decelerated, particularly in sectors exposed to exports. China’s GDP is still set to rise 7.7%...

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