More Extending Downstream Chemicals Affected By The Smaller Oil
SINGAPORE Bloomberg financial tsunami, not completely at low tide, a debt crisis set off from Greece then from Europe to the world. At the same time, have a significant economic benchmark of international oil prices diving again and again to bring the collective lie down the entire commodities market. Will this new crisis to recover just slightly again became bogged down the domestic chemical industry? How should China’s chemical industry to avoid the debt crisis and the fall in oil prices triggered a chain reaction?
5 18, in the chemical industry for many years YPC invasion – BASF limited liability company president Blumenberg, accepted an exclusive interview with Shanghai Securities News, to respond to the above issues.
Shanghai Securities News: current debt crisis countries in Europe are more panic, worried that the global economy, the possibility of second bottom. Do you think Europe will be like the debt crisis of the financial crisis in 2008, the domestic chemical market as a huge hit?
Cloth Ming states: First of all, we hope that European governments able to control the crisis. Second, the dollar-euro exchange rate has been significant volatility in serious depreciation of the euro, which exports to China from Europe more competitive products, while exports from China to Europe will be weakened competitiveness of their products. From this perspective, the debt crisis on the domestic chemical market or have a certain influence. But overall, China is still the chemicals in importing countries, import more and export less, this effect may not be significant.
Shanghai Securities News: be specific to the chemical industry and downstream, including Yamba your company affected by the crisis level like?
Cloth Ming states: Yamba mainly based on the Chinese domestic market, products are mainly sold in China, less affected by the crisis. However, our customers, 25% of export-oriented enterprises, including customers of our customers, there are many products for export. Therefore, this part of the indirect export customers will be the euro and the debt crisis. Of course, the euro is also good that we buy from Europe, the cost of equipment and installations lower than before the?? Although this part of the impact is not great.
Shanghai Securities News: The domestic chemical market for some time to see how the trend? The Chinese government should continue to produce measures to stimulate the economy?
Cloth Ming states: Do not underestimate the potential demand within the Chinese market, this component will be far greater than the export part. It should be noted, the Chinese government’s measures in this crisis is the best in all countries?? Response to the fastest and most rapid, measures the most accurate. As a result, China’s economy affected by the crisis are minimal. At present, the Government should consider whether to continue to stimulate the economy, but should be considered when it can be stopped. As for the recent debt crisis in Europe, I personally think that this is still not necessary to take special measures, unless the crisis to further develop and affect the real economy.
Shanghai Securities News: In the European debt crisis, international oil prices, a number of downstream products are also affected.
Cloth Ming state: as long as international oil prices remain at a certain range, then the downstream market can still rely on self-adjustment to alleviate the crisis. And the more down, price changes, chemicals and crude oil price changes, not exactly. This is the second phase of the project we have to do Yamba One of the aims?? When the more downstream value chain extension, subject to smaller fluctuations of crude oil.
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