Economic Challenges, Trade Wars, and Geopolitical Tensions in Japan and China

A more optimistic outlook for the global economy and chemicals could be jeopardized by rising geopolitical instability. 

-          Current downturn reminiscent of 1970’s oil shock 

-          Global GDP growth could start to recover from 2025

-          Geo-political risks are rising and could jeopardise economy

-          Chemicals CEOs slightly more upbeat

-          PMIs show China manufacturing now expanding 

-          But China challenged by debt, property bubble, youth unemployment, demographics

-          Expect 2-3%/year China GDP growth in 2030s as population declines

-          Europe economy is stabilising, driven by services

-          US economy should see a soft landing