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Today's economic downturn not only differs from previous recessionary periods, but it also differs by country and region. For the chemical industry, the recent downturn was caused by the already mature chemical industry cycle combined with a premature forced bottoming of demand due to the credit crisis. Of course, cycles are an inevitable part of business for the chemical industry. The variety of cycles - for example, geographic, product and cost - can be confounding when powered by the larger force of a macroeconomic cycle.
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