As the existing global trading system crumbles, and overcapacity keeps growing, Europe’s chemical industry must move back to a more national or regional business model.

- Trade war shows global trading system is breaking down

- Chemical industry could move back to a national or regional business model

- Would be a return to pre-1990s industry structure

- Europe has smaller chemical plants, ideal for regional markets

- EU must now act fast to protect chemical and industrial value chains

- China chemicals has been based on 6-8% GDP growth per year

- Now real GDP growth is only 1-4%, according to unofficial estimates

In this ICIS Think Tank podcast, Will Beacham interviews John Richardson from the ICIS market development team, ICIS Insight Editor Tom Brown and Paul Hodges, chairman of New Normal Consulting.

Twilight Producer - Marty Bowen