Episode 1226: Think Tank: Poor Q2 results signal permanently lower growth, need for bold strategic moves

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Collapsing second quarter financial results show that the industry may face permanently low growth, driving the need for radical business model transformation.  -          Q2 financial results show persistent downturn in sales, profitability-          Europe chemicals still plagued by China-driven global overcapacity, higher production costs, poor downstream demand-          BASF reports double-digit fall in net income, weighed by lower prices. Warns of second half risks from stronger price reduction, lower volume growth-          Dow CFO said consumer durables, building and construction will likely remain weak through the rest of the year -          Need for widespread closures to balance supply and demand-          Chemical companies need to adopt radical new business models-          End of China’s economic miracle means there will be no return to strong demand growth globally