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Devaluation in China to benefit Turkish producers: Eroglu

by ChemOrbis Editorial Team -
  • 14/08/2015 (14:30)
According to a statement made by the President of Turkish Plastics Industry Foundation (PAGEV), Yavuz Eroglu, the devaluation of the Chinese yuan will help Turkish converters gain access to feedstock resources with more competitive prices. Eroglu stated that the feedstock costs will weaken due to the devaluation of the yuan and this situation will give more competitiveness to Turkish producers in the markets they operate.

In addition, Eroglu commented that the China’s devaluation strategy won’t increase the country’s exports in the long term since China is losing its low-paid employment advantages as wages there have tripled in recent years. Eroglu added that in Turkey’s plastics sector, meanwhile, higher quality toys are already sold more expensive than Chinese toys, therefore the yuan devaluation won’t cause a major loss.
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