A V-shaped economic recovery forecasted in the middle of the global financial fiasco is now underway. The process of recovery initiated last year in countries like China, Indonesia, and India and gradually spread to other emerging and advanced economies. The Asia-Pacific region is expected to outdo the 8 percent growth forecast. This will be led by a real growth rate of 10 percent by China (Mussa, 2010). The process of recovery will be slow in advanced economies. In countries like the US, the biggest growth drivers will be a business investment, government spending, and foreign consumers; and the rebound is expected to be risk-laden.
This is the same in the case of Japan as the country’ s economic revival appears fragile due to record unemployment levels, falling wages, etc. Despite this, the Japanese economy is likely to exhibit a growth but there may be a decline in the growth momentum. China has performed much better than the other countries in the recent global phenomenon. This has been added by massive monetary and fiscal expansions (Deloitte, 2009). The industry of household appliances has gained competence in economically developed regions of China like the Pearl River Delta.
It is a leading manufacturing center in the country. The “ National Development and Reform Commission of the State Council of the People’ sThe Republic of China” released an outline relating to the reform and development of the Pearl Delta region. This plan is mainly aimed at transforming this region into a highly competitive region with high standards (Teng, 2010). The plastic goods are widely used by the various components of the national economy and are an integral part of our lives.
It is predicted that the 21st century will be a century of plastic and China will be the largest plastic market. Along with the continuous rapid economic development in China, the plastic industry will keep developing at a high speed in the long term. It is widely believed that the price of the plastics has decoupled from the crude but there is still a co-relation. The price of oil is difficult to predict as it is based on market factors. With the rising price of oil, the price of plastics produced from oil will also move up.
Any mismatch between global demand for oil and its supply has a profound effect on various industries including plastics. Business Forecast of Canada Corporation Ltd. The plastic industry is an industry with low entry barriers, strong bargaining power of the suppliers and buyers.
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