A recent story in the October 2013 issue of CC&N asks us to consider the implications of recent developments in China. Under a new president, China has adopted new environmental laws on air, water and environmental standards. From an economic perspective, new regulations will result in an increase in operating costs and wages. This change comes at a time when the Chinese, known for achieving 30 percent growth in the chemical industry on an annual basis, are shifting to higher-technology chemical manufacturing. SOCMA, (the Society of Chemical Manufacturers and Affiliates) and its members are concerned about the transparency of these changes and possibility of REACH-like regulations on US based chemical manufacturers. With many changes on the horizon, one thing is certain: the global chemical business climate will feel the impact of a new leadership in China focused on changing to a more market driven economy.
Here is a link to the article from CC&N: http://www.cendigital.org/cendigital/20131007?sub_id=IedAwpqrFmkb&folio=26#pg28
CC&N interviewed eight industry executives for their perspectives on the new Chinese regulatory reform. Listen to what they have to say.