Episode 970: Think Tank: US bank run could herald tougher lending conditions for chemicals
The rescue of two troubled US banks signals the end of two decades of easy lending, so chemical companies may find it more difficult to access funds in the future. - Central banks have facilitated reckless lending - Chemical companies may have to work harder to justify funding- Lack of financial discipline has fuelled massive global overcapacity in chemicals- Huge levels of government borrowing may trigger Asia debt crisis- China demand for high density polyethylene (HDPE) may fall from 2023-2040- China’s economic growth may never return to previous high levels