Taiwan, one of the leading countries of producing and exporting Chemicals has been in a lot of trouble lately. Given that most global leading chemical companies are located in Taiwan, the competition between them is being raised to the roof. This pushes a few bodies to start implementing illegal moves to help boost their stance in the market.
Recently, China has announced that they believe that chemical firms from Taiwan are conducted illegal and unfair moves towards he economy. The accusation by China has started an investigation which declares that Taiwanese companies are selling certain chemicals at a very low price. This move has had a negative effect on all other companies in the market including China’s own firms. This was stated directly by the Chinese Ministry of Economic Affairs (MOEA).
The problem doesn’t stop there as China accused Taiwan and the United States to be included in dumping of butyric alcohol which is one of the main chemicals used for create a huge spectrum of chemicals related to the petrol industry including coatings, adhesives, textile auxiliaries and plasticizers.
According to China, Taiwan was able to sell a total of US$112 million for butyric alcohol alone to China. This value was back in 2014 and ranged from US$117 million, US$106 million and US$108 million in the next 3 years.
This has made Taiwan the biggest supplier of this product to China, making it make up to 63.64% of almost all China’s imports.