It is not just China. The Gulf petrostates have been building plastics manufacturing facilities like crazy.
Even Russia, which used to import most of its plastics, has been building facilities for it.
Because of high energy costs in Europe, they will need to consign themselves to screwdriver assembly of parts made elsewhere with cheaper energy costs. Most of us analyzing this situation have known this ever since 2-2-2022. People calling Russia a "gas station" have no idea what they talk about. Russia is a commodities giant. They produce just about every single resource by simple virtue of having the largest piece of real estate in the world.
Something like electric smelting of steel would have more decent chances in France which still has most of its power generated from nuclear and where most of its nuclear reactors are operating on the residual factor.
In Germany I expect the next government to backpedal on much of the Green energy policy and stop the closure of steel production using coal.
For plastics you need cheap petroleum feedstocks and right now Europe cut itself off of those. Both it and chemical production will move outside of Europe.
Even Russia, which used to import most of its plastics, has been building facilities for it.
Because of high energy costs in Europe, they will need to consign themselves to screwdriver assembly of parts made elsewhere with cheaper energy costs. Most of us analyzing this situation have known this ever since 2-2-2022. People calling Russia a "gas station" have no idea what they talk about. Russia is a commodities giant. They produce just about every single resource by simple virtue of having the largest piece of real estate in the world.
Something like electric smelting of steel would have more decent chances in France which still has most of its power generated from nuclear and where most of its nuclear reactors are operating on the residual factor.
In Germany I expect the next government to backpedal on much of the Green energy policy and stop the closure of steel production using coal.
For plastics you need cheap petroleum feedstocks and right now Europe cut itself off of those. Both it and chemical production will move outside of Europe.
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