Zibo Huaxing Additives Co., Ltd.

The impact of the global financial crisis is the impact of emerging markets, including emerging markets in the Asia-Pacific region. For chemical manufacturers in Asia-Pacific region in 2009 may be the situation is more serious. Asian Development Bank (ADB) has recently once again lowered GDP growth of emerging economies in East Asia (ASEAN countries, China, Korea and Chinese Taiwan) in 2009, this is the second time down in the past three months. According to the ADB said the region's GDP growth in 2009 expected to 5.7% in 2008 to 6.9%, 9% in 2007. By the impact of weak exports and the sharp decline in private capital flows to Asian developing economies in 2009 will be subjected to severe challenge. Jong-Wha Lee, ADB regional economic integration, person in charge of the Office believes that this year was a difficult year for developing Asian economies. However, if the response measures properly, this difficulty can be resolved. According to ADB forecast, some countries in Southeast Asia's economic growth in 2009 will be the sharp decline in Thailand's GDP growth will fall by half to two percent of Indonesia's GDP growth from 6.1% to 5%, Malaysia from May % to 3.5%. The newly industrialized economies, GDP growth will be a sharp decline in Korea's economic growth slowed down from 4.2 percent last year to 3 percent, Taiwan's economic growth from 2.4% slowdown to 1.7%. The growing financial crisis is enormous pressure on the Asian chemical industry. Most chemical manufacturers have cut production or temporarily shut down the device, in response to the decline in market demand. According to the American Chemistry Council (ACC), the Asia-Pacific region (excluding Japan), chemicals output growth in 2009 from 8.4 percent in 2008 dropped to 6.3 percent. Which the growth rate of decline in the sharpest Korea, chemicals output growth in 2009 than in 2008 fell more than half to 3.1%. Chemicals output growth from 6.1 percent last year to 3.5%. Singapore's chemicals output growth from 2.5% to 2.3%.