Maleic anhydride markets around the world continue to reel in the face of the global COVID-19 pandemic, which has knocked out thousands of tonnes of potential growth and which is far from over as we head into the colder months in many parts of the developed world. Possible lockdowns ahead of us may stifle growth even more, but there are glimmers of light, especially in China, where growth is already starting to pick up again as the country is ahead of the rest of the world in terms of recovery.
In this chart, we can see that global GDP growth is expected to shrink substantially this year, and more significantly than in the previous recession in 2008-2009. China will lead the recovery, as we are already starting to see, but we can not rely on China to bail us out of this crisis as its GDP growth rate is not as high as it was in the last recession.
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